This Is the World's Most Expensive Piece of Crypto-Art
Art imitates life, as the saying goes.
For Andy Tian, Co-founder and Group CEO of Asia Innovations Group, that means leveraging the shift towards blockchain technology to produce a piece of virtual artwork: “The Forever Rose.”
“Just because you can’t really see it, doesn’t mean it’s no less valuable,” says Tian, whose company operates the GIFTO virtual gifting platform.
“The Forever Rose,” created by renowned artist Kevin Abosch, sold for $1 million worth of ethereum on Valentine’s Day, making it the most expensive piece of crypto-art so far. The token was split between 10 collectors who can resell their portion of the artwork.
Tian says any art, physical or virtual, derives its value from both the artist and “the significance of the artwork.” The medium it’s produced in doesn’t matter.
In fact, blockchain’s safe, decentralized nature makes it an ideal platform for the art world, he says. The market can’t be tainted with fake works, the art can’t be damaged or hacked, and it throws open the typically exclusive collector’s club to anyone who wants to buy or sell.
For the full interview, [click here](https://cheddar.com/videos/cryptocurrency-is-changing-how-we-view-art).
Parallel Systems has been selected to receive $4.5 million from the Department of Energy for an advanced testing program of its autonomous, battery-electric rail vehicles. The startup, which has raised more than $53 million to date, was founded by former SpaceX engineers to reimagine the rail system by creating a more efficient, decarbonized freight network. Matt Soule, Co-founder & CEO of Parallel Systems, joined Cheddar's Opening Bell to discuss what the company hopes to achieve.
A bipartisan bill introduced by U.S. Senators Amy Klobuchar (D-MN) and Cynthia Lummis (R-WY) aims to tackle the spread of misinformation on social media platforms, as well as the addictive nature of the sites and negative mental health impacts they have on users. The 'Nudge Act' would require studies to find and compile potential interventions that platforms could use to encourage people to think before they share a post, or log off after spending too much time on an app. The FTC would create rules based on these findings, and hold the platforms accountable. But will it work? Jesse Lehrich, co-founder of Accountable Tech, joins Closing Bell to discuss the bill, whether real results and regulations could come from it, and more.
