British artist Adrian Chesterman’s digital artwork that only exists as a high-resolution file that represents the resemblance between cryptos like Bitcoin and traditional money is predicted to exceed its reservation price of $160,000.
The Crypto Train, which is now in an online auction specializing in the latest new investment trend, Non-Fungible Tokens (NFTs), was viewed by many of its owner’s top-notch clients before going live.
Many popular musicians, artists, fashion brands and global sports franchises have launched their own NFTs in recent months. Auction house Christie’s sold a digital-only artwork in April. It became the 3rd most expensive work ever sold by a living artist.
NFTs are digital collectibles that are encoded onto a blockchain creating a unique digital watermark displaying the digital rights to that collectible and its ownership.
Director of Thomas Crown Art, Stephen Howes said that even before The Crypto Train went to auction, they received important offers from Silicon Valley investors and serious crypto lovers. Continuing further, he said that this is the next stage in art history and they don’t want to skip the early adoption stage. This is the reason they were showing keen interest before the auction, most likely expecting to earn them a bargain.
He added that this pre-auction interest proposes that the artwork will exceed its $160,000 reservation tag. He said he wouldn’t be shocked if it were eventually sold for over $270,000. Such is the demand!