Leading Art Auctioneer Christie’s Introduces Algorand-Backed NFT in Upcoming Sale



italian contemporary artist Andrea Bonaceto built interactive NFT work on the Algorand blockchain

SINGAPORE, October 10, 2022 /PRNewswire/ — The Algorand Foundationwhose mission is to develop the ecosystem of Algorandthe carbon-negative Layer 1 blockchain invented by the Turing Prize winner and MIT teacher Silvio Micaliis pleased to announce that Christie’s Art Auctioneer will feature a contemporary Italian artist by Andrea Bonaceto AB Infinite 1 NFT artwork, built on the Algorand blockchain, in its upcoming auction. Christie’s 20e / 21st evening sale of the century at London will take place during Frieze Week on October 13e.

The work represents an interactive snapshot of Bonaceto’s life in the eternal cycle that goes “ab infini” (Latin for “from infinity”) to the origin, symbolized by the number “1”. Algorand’s technology allows AB Infinite 1 be interactive. Audience members can edit the digital artwork through a specially designed AI mechanism that collects viewer interactions through social media channels. Reactions or suggestions are turned into visual responses that appear as part of the piece.

People can see AB Infinite 1 as it evolves over time on the artwork’s website www.abinfinite1. Users can become part of AB Infinite 1 in two steps:

  1. Share the Twitter / Instagram account in the appropriate section of the website.
  2. Hashtag #abinfinite1 on Twitter/Instagram for incorporating AI into the piece.

“Christie’s support for NFTs built on the Algorand blockchain demonstrates accelerating acceptance of digital art,” said Shamir Ozery, Head of Web3 of the Algorand Foundation. “Exposing collectors who frequent Christie’s auctions to the Algorand blockchain will set a new standard for NFTs as the industry experiences a digital art renaissance, redefining what art is and what it is. ‘he can do.”

AB Infinite 1 explores the concept of authenticity and freedom of expression. Bonaceto’s portraits reflect this characteristic vibrant style and his landscapes appear surreal with references to great artists such as Kandinsky and Picasso. The most important factor behind Bonaceto’s work is to achieve an honest attempt to express real feeling.

“I am moved to see AB Infinite 1 included in the prestigious Christie’s evening sale alongside masterpieces of traditional art,” the artist said. Andrea Bonaceto. “I see NFTs as a tool to express deep artistic concepts, not just as certificates of authenticity, but as a new brush in the hands of artists to create unique concepts. AB Infinite 1Algorand’s latest ARC-19 standard for NFTs was the technical brush that made possible the NFT artwork to be updated on-chain following people’s interaction on social media.”

About the Algorand Foundation

The Algorand blockchain — designed by MIT Turing Prize-winning professor and cryptographer Silvio Micali — is uniquely capable of delivering on the promise of a borderless global economy. It achieves transaction throughputs at the speed of traditional finance, but with immediate finality, near-zero transaction costs and on a 24/7 basis. Its carbon-neutral platform and unique pure proof-of-stake consensus mechanism solves the “blockchain trilemma” by providing both security and scalability on a decentralized protocol, and without a second of downtime. shutdown since its commissioning in 2019.

The Algorand Foundation is dedicated to helping fulfill the global promise of the Algorand blockchain by taking responsibility for its healthy monetary economy, decentralized governance, and healthy and thriving open source ecosystem. For more information, visit https://algorand.foundation

About Andrea Bonaceto

Andrea Bonaceto is an Italian contemporary artist. He believes that visual art, music and poetry can merge into a new art form. Through NFTs, AI, and programmable art, he attempts to draw audiences into his abstract works and iconic portraits.

Andrea creates at the intersection of art and technology. He has artistic collaborations with Sophia The Robot and Corriere Della Sera among others. His work has been featured in mainstream media and in museum exhibitions around the world.

Andrea has been involved in blockchain and NFT space since the early days. He is a founding partner of Eterna Capital, a leading investment firm focused on blockchain technology. In addition, Andrea is the co-founder of AoRisT, a new generation cultural institution supporting a climate change NFT marketplace for artists who create at the frontier of art and technology. Andrea is a Fellow of the Royal Society of Arts (FRSA).

About Christie’s

Founded in 1766, Christie’s is a world leader in art and luxury. Renowned and recognized for its expert live and online auctions, as well as its bespoke private sales, Christie’s offers a full portfolio of global services to its clients, including fine art appraisal, financing of works of art, international real estate and education. Christie’s has a physical presence in 46 countries, across the Americas, Europe, Middle Eastand Asia Pacificwith flagship international sales centers in New York, London, hong kong, Paris and Geneva. It is also the only international auction house authorized to organize sales on the continent. China (Shanghai).

Christie’s auctions cover more than 80 art and luxury categories, with prices ranging from $200 to end $100 million. In recent years, Christie’s has achieved the world record price for a work of art at auction (Leonardo DeVinci Salvator Mundi2017), for a 20th century work (by Andy Warhol Shot Sage Blue Marilyn, 2022) and for a work by a living artist (Jeff Koon’ Rabbit, 2019). Christie’s is also recognized as a benchmark for prestigious single-person collections, having auctioned 8 of the 10 most important collections in history.

Christie’s Private Sales offers a seamless service for buying and selling artwork, jewelry and timepieces outside of the auction schedule, working exclusively with Christie’s specialists at the individual pace of each customer.

Recent Christie’s innovations include the groundbreaking sale of the first NFT for a digital artwork never offered at a major auction house (Beeple’s Everydays, March 2021), with the unprecedented acceptance of cryptocurrency as a means of payment. As an industry leader in digital innovation, Christie’s also continues to pioneer new technologies that are redefining the art industry, including the use of hologram technology to visit life-size 3D objects around the world, and the creation of viewing and auction experiences that integrate reality, global live streaming, buy-it-now channels and hybrid sales formats.

Christie’s is dedicated to fostering a responsible culture in all of its businesses and communities around the world, including achieving sustainability through net-zero carbon emissions by 2030, and actively using its platform in the art world to amplify underrepresented voices and support positive change.

Browse, bid, discover and join us for the best in art and luxury at: www.christies.com or by downloading Christie’s applications. The COVID-related reopening status of our global sites is available here.

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SOURCE Algorand Foundation

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