Popular NFT artworks based on blockchain history sell for $100,000+
EverdreamSoft is now selling the art NFT ‘The Theft of Mount Gox’, referring to an historical event in the blockchain space. NFT art or crypto art referring to historical moments from its origins are a common theme. These are artworks that come from within the community, and therefore often carry significant value.
‘The Theft of Mount Gox’ was originally issued in 2015 as a playable card in the game Spells of Genesis. They stored the card on Bitcoin Counterparty, a protocol that existed years before the now popular ERC-721 NFT token standard on the Ethereum blockchain.
The artwork refers to the hack of Mt. Gox, or Mount Gox. This was a bitcoin exchange from Japan that launched in 2010. Within three years the exchange was handling 70% of all bitcoin transactions across the world. However, the exchange got hacked and 850,000 bitcoin had disappeared. This heist would have a value of more than $47 billion at the current exchange rates.
The impact of the hack was big on the yet immature crypto market. The price of bitcoin dipped 36% from $800 to $489 within days. Bitcoin entered a bear market that would last approximately 18 months. Ultimately ‘The Theft of Mount Gox’ refers to the hack of Mt. Gox, but the same could be applied to all other hacks of centralized exchanges, from Bitfinex to Cryptopia. It only takes one magician to steal the gold from the mountain of a centralized exchange.
More NFT history to come
EverdreamSoft will distribute more amazing NFT artworks in the weeks to come. For May 18th they have scheduled ‘The Genesis Block’. The genesis block is the first block of the Bitcoin blockchain, and because Bitcoin was the first blockchain, it also is the first ever block: The Genesis Block.
Therefore The Genesis Block is a tribute to blockchain technology in general. It’s the technological innovation that brought us a technology that’s now enriching our world with DeFi, NFTs and uncensorable transactions.
In addition EverdreamSoft will release The Colossus of DAO, an artwork referring to The DAO, a crowdfunded decentralized autonomous organizations that got $150 million in ETH through an ICO. The DAO get hacked, and become defunct within six months. These events triggered a fork, which is why there’s now both Ethereum Classic and Ethereum. The latter made the hack undone.
The Colossus of DAO was supposed to be an invincible giant. The artwork was made before the hack took place. However, it was not meant to be. Nonetheless, this artwork tells a part of the story from a time before the current Ethereum blockchain, a significant part of blockchain history.
NFT art about historical moments
EverdreamSoft isn’t the only one creating NFT art based on blockchain history. Artists have been using familiar memes and famous developers for quite some time. One of the most popular people to appear in NFT art is Vitalik Buterin, the founder of the Ethereum blockchain. His contributions to NFT technology and programmable smart contracts are recognized by many. It’s no wonder that he appears in expensive artworks like Ethboy by Trevor Jones and Alotta Money.
The appreciation for Buterin’s work also shows in the artworks by Beeple. Into The Ether is one of Mike Winkelmann’s popular NFT drops on Nifty Gateway. It originally sold for $969, but now changes hands for more than $300,000.
The significance of blockchain history should not be underestimated. In October 2020 Christie’s New York auctioned a physical artwork in combination with an NFT for $131,000. The artwork shows the original code of the Bitcoin blockchain.
Trevor Jones x Alotta Money
Value: $140,704 (Nov 2020)
Into the Ether
Owner: DCinvestor & more
Latest sale: $305,604
Value: $131,000 (late 2020)