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London’s First Crypto Sculpture Provokes Mixed Responses

The UK’s first cryptocurrency public sculpture is being unveiled in London this week, according to Cision PR Newswire.

The temporary installation known as ‘Crypto Connection’ sculpted by artist Federico Clapis has been commissioned by the multi-currency crypto wallet and hybrid exchange Eidoo. The piece stands three meters high and is sculpted in bronze, showing a fetus holding a smartphone inside the womb. Eidoo suggests that the bronze sculpture questions about how cryptocurrencies will influence future generations.

The monument to crypto has been positioned at Observation Point alongside the Thames where it will be on display for ten days. The PR states, “The use of classical sculpture in polished bronze together with a provocative futuristic topic juxtaposes perfectly to reflect the dichotomy of cryptocurrency itself: a seemly fleeting trend, yet built to endure.”

As a marketing tool, Eidoo will certainly raise public attention for the company, particularly placing the commissioned piece in one of London’s most populated tourist hubs between OXO Tower and the BFI. Lars Schlichting CEO of Eidoo said:

“We’re thrilled to unveil the first crypto sculpture in the world in the creative hub of London. With the crypto space developing fast we wanted to explore a way to communicate with a wider public using the hugely engaging medium of art.”

Arjun Kharpal of CNBC begs to differ, finding the piece “ridiculous” and claiming that it is such publicity stunts which give the crypto industry a bad name, resulting in it being labeled as fad or bubble, actually undermining what companies are trying to do. As part of the publicity exercise, Eidoo is also giving away a Pokemon Go-style game that allows users to walk around collecting real cryptocurrency. Kharpal is not amused by that either, arguing:

“For an outside observer, the statue and game highlight an immaturity among many of the firms in the space. And actually, I’d be less inclined to trust a business giving money away. As a company, this could also put off investors.”

Whether or not it turns out to be a successful campaign or not, this is certainly not the first sculpture planned to commemorate the crypto world. In Ukraine’s capital Kiev, plans are underway to install a statue of the pseudonymous creator of Bitcoin, Satoshi Nakamoto, in the same location where a statue of Russian communist revolutionary Lenin, used to stand.

 

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