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“Mad Money” Looks at Crypto Art From a Whole New Perspective

A “Mad Money” exhibition taking place in Moscow on the 18th October is dedicated to the art of crypto mining and trading.

Moscow’s Electromuseum is hosting the event, where installations and artwork will examine the nature of the industry in a whole new way, with artists attempting to demonstrate how modern financial instruments can transform society, according to curator Aristarkh Chernyshev.

In the process of putting on the exhibition, Chernyshev was intrigued that many of the artists came up with original ideas for using the heat created by mining. Such ideas, creating by-products from the mining process are gaining popularity. A French-based startup recently came up with a unique idea enabling users to heat their homes whilst using the same energy to mine cryptocurrency.

Mad Money’s artists have used transaction data, stock reports, and microchips as materials for their work, at the exhibition which includes participants such as “One red paperclip’” Canadian blogger Kyle MacDonald, who once bartered his way from a single red paperclip to a house in a series of fourteen online trades over the course of a year.

The event was launched on the back of a Bitcoin’s 10th Anniversary exhibition in Paris earlier this month where artists from all over the world arrived with their own very individual commentaries on the world of cryptocurrency. Featured artwork included Marguerite deCourcelle, also known as Coin Artist who in 2014 painted a picture which contained an encrypted access to five bitcoins and Josephine Bellini, a painter of “Filter”, and Andy Bauch who created his works on the basis of Lego.

The crypto art movement is growing rapidly with some exceptional concepts being created, such as by New York conceptual artist and photographer Kevin Abosch, who earlier this year created 10 million IAMA Coin tokens using the Ethereum ERC-20 protocol. The artist drew six vials of his own blood stamping 100 blockchain addresses where the IAMA Coins reside onto 100 separate pieces of paper using the bodily fluid. Lorenzo Sconci, the owner of Dubai-based Sconci Art Gallery, and CEO of crypto startup ArtWallet which records art provenance on a blockchain commented about this new wave of art:

“Without a doubt, bitcoin and blockchain has been the biggest revolution over the past 10 years. As revolutions have shaped artistic expression throughout time, there is no doubt that crypto will accomplish the same.”

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