Works of art made with Lego hide cryptocurrency secret code equivalent to USD $ 10mil
The artist Andy Bauch inaugurated an exhibition at Castelli Art Apace in Los Angeles in which he presents works of art made with Lego that hide, in abstract patterns, private keys of different wallets. The first who manages to decode them can access and take the money
In a new series, the artist Andy Bauch is mixing cryptocurrencies and art, with works that form abstract patterns constructed with pieces of Lego. Each piece visually represents the private key of a digital wallet, and anyone can access the wallet and take that money, if they manage to decode it.
Bauch began to "play" with cryptocurrencies in 2013 and, in an interview with Gizmodo, commented that he considers himself an enthusiast but not a "furious promoter" of technology. "I was not smart enough to buy enough to have money to fuck," he said. Subsequently, in 2016, the artist began to integrate his interest in Bitcoin with his artistic practice.
His latest series of work, New Money, was inaugurated at the Castelli Art Space in Los Angeles yesterday. Bauch says that each piece in the series "is a secret key for several types of cryptocurrencies." The artist bought several amounts of Bitcoin, Litecoin and other currencies in 2016 and placed them in different digital wallets
Each wallet is encrypted with a private key that consists of a string of letters and numbers. That key was initially introduced in an algorithm to generate a pattern. Then, Bauch retouched the algorithm here and there to create an image that appealed to him. After completing the jobs, you have rigorously tested them to ensure that, in fact, they provide you with the correct private key when they are processed through your formula.
The artistic proposal of the American invites an approach where the value of the work is equivalent, almost in an analogous way, with its content. Work would not exist without the wallet's private key, and each piece has its own price tag. The titles explain what type of currency is in the wallet and the investment value at the time you bought it. During the exhibition, a live broadcast of the changing values of each wallet will be screened.
The cryptographic market is volatile, and this week the total value of the work reached USD $ 10,000, but at the time of writing is approximately USD $ 9,000. A collector can buy the piece, but any viewer who believes he has deciphered the code can take the money out of the wallets. There is a level of de-coding "game" in anyone who wishes to participate: all the works can be seen in Artsy and the wallets can be found here.
"A lot of the work I'm doing is trying to cover this gap that often exists between new technologies and humanity," said Bauch. Who also added that he likes to work with Lego, because aesthetically it resembles a pixel.
Art and cryptocurrencies
In the art world, interest in cryptocurrencies and Blockchain technology has increased. Bauch is not the only one who has united both worlds. Brad Troemel, an artist who is probably best known for Tumblr's collaborative project, The Jogging, began by including physical pieces of Bitcoin, introduced into his work years ago. The physical bitcoins were adorned with real private keys, and the buyer of the work became, on acquiring it, the owner of the coins.
Lucky collectors may have charged a lot of money on the cusp of "cryptomania" last year, and they're probably still doing quite well with the "reward" contained in the works. Of course, in the adventurous world of conceptual art, the collector would risk destroying the piece if he wanted to withdraw the funds. He would have to face the dilemma of deciding whether he prefers to have the cash and a damaged artwork, or to preserve the artwork.
The medium asked Bauch if there was any additional incentive regarding the cryptocoin reward for any of the purchasers of the artwork. "Yes, there is," he said, "I'll give you a clue."
