One of the most interesting things about Bitcoin – beyond helping you make money – is the technology platforms that are arriving because of it. For example, did you know that there is a platform that enables you to invest in hugely expensive artwork with Bitcoin? It’s called Maecenas – and here is everything you need to know about it.
What is Maecenas?
The Maecenas platform is based on the blockchain, and is a marketplace for Bitcoin owners to invest some of their wallet in famous and expensive art. As everyone knows, artwork by the likes of Andy Warhol tends to fetch incredible amounts of money in auctions, which few people can access – art is often well out of reach for the average person. Maecenas aims to challenge the status quo in that the platform allows anyone to purchase a fraction of a particular piece of artwork valued over a million dollars.
Buy Andy Warhol art
According to reports, Maecenas is teaming up with the Dadiani Syndicate art gallery in Mayfair, London, to host a world first – a cryptocurrency art auction. Up for grabs is a share of 49 percent of one of Andy Warhol’s famous works, called ‘14 Small Electric Chairs.’ Warhol’s art was created in 1980, and has a current value of $5.6 million, and anyone interested will be able to bid to buy digital certification on the blockchain. Each certificate will represent your fraction of the ownership, and you can use a variety of cryptocurrencies, including Bitcoin, ART tokens (which is Maecenas’ own crypto) and Ethereum.
Are people interested?
Absolutely. The appeal of Andy Warhol is enduring, and given this is one of the famous artist’s best-known pieces, interest in the sale is exploding. In fact, use of the platform’s ART token has gone through the roof, with an astonishing take up occurring straight after the announcement.
Is this the real deal?
It’s often the case that when disruptive and eye-catching platforms crop up, people have suspicions. And make no mistake about it – this is a pioneering event. For the first time in history, average Joes and Joannas will be able to own a piece of history. The hope is that this type of clever strategy will democratize classic artworks, as well as simplifying and expanding investment in art way beyond what is the norm today. Should you be concerned? Absolutely not. With this Andy Warhol sale, crypto owners can rest easy. The artwork is the original ‘14 Small Electric Chairs’ piece, and comes with a certificate of authenticity, direct from the Andy Warhol Art Authentication Board.
How do I get involved?
The auction takes place on the Maecenas platform on the 20 June. You will need to sign up on the Maecenas.co website to get the opportunity to ‘own a Warhol.’
Is it worth it?
One of the major complaints many naysayers have about cryptocurrencies is that what you can buy with them is restricted by the platform you use. So this new idea from Maecenas is something of a breakthrough. As everyone knows, artwork is one of the best – and safest – investments you can make in a wildly unpredictable world. And a chance to own an Andy Warhol is surely reason enough to check out Maecenas and get involved.