CryptoArts Artwork “Red & Blue” Auction Results Reveal 5.27 ETH
On October 18th at 22:00 Beijing time, the final deadline for “Red & Blue”, a year-long project by OpenSea, an CryptoArts platform, has come and gone. After a fierce online bidding process, ID GeoffreyX has collected “Red & Blue” representing the ideologies of China and the United States, saying, “I hope that the advancement of technology and the development of art can once again help reunite human society.”
On October 18, 2019, relations between the United States and China, while slightly fractious in the area of trade, have not affected the thriving global economy. Demand for imports and exports is strong, and international cultural exchanges are frequent. Liu Jiaying, an MFA student at the Central Academy of Fine Arts, is preparing her graduation project, trying to make a piece about great power relations with elements of CryptoArts. She chose red for China and blue for the United States from the flags of the two countries, and set up a transition of 100 blocks of color in the middle to represent the tendency of value identity. The length and width of the color blocks are presented in the 3:2 ratio of the Olympic flags, and the minimalist blocks form a square in the virtual art community site CryptoVoxel, where bids are displayed as NFT images on the OpenSea.
Will the news dictate the direction of prices? Is patriotism a factor that supports market prices? Is the global distribution of digital currency users related to voting? Can an intermediate block of color representing neutrality become the core of the bidding process? …… Liu Jiaying incorporates these issues into her artworks. The year 2020 has taken the world by surprise and people have lived through 10 months of uncertainty. October 18 was the last day of the “Red & Blue” auction.
As with all online auctions, the early bidding was calm and quiet, and the bidding heated up 2 days before the cutoff.No.100 Blue was bid by ID Meteor2020 on October 16, advancing into the 2 ETH echelon, when ID GeoffreyX began to raise its bid. And then, Meteor2020 shifted to No.1 Red, which was bid at 2.0 ETH on October 17 and then overtaken by GeoffreyX. After two exciting days of bidding, Blue went to GeoffreyX at 2.5588 ETH (about $956) and Red at 2.3162 ETH (about $869) at the same time.
“Red & Blue” Auction Results 1st Place.
No. 100 Blue Block, sold for 2.5578 ETH, Collector: GeoffreyX
“Red & Blue” 2nd Place.
No.1 Red Block, sold for 2.3153 ETH, Collector: GeoffreyX
The 100 blocks of “Red and Blue” fetched a total of 5.2751 ETH (about $1,978 USD), with No. 100 Blue Block fetching the highest price, followed by No.1 Red, and the bidding for the other blocks totaling 0.4001 ETH (about $150 USD). The result was an adventure in CryptoArts for recent graduate student Liu Jiaying, who was thrilled with every bid. Was it her predetermined factors that influenced the outcome of the auction? Or are these cultural values worthless in the face of NFT’s investment properties? We had the opportunity to reach out to GeoffreyX and asked him a few questions.
Collector GeoffreyX answers questions about the “Red & Blue” bids
Congrats on getting the two most important blocks at the same time.
Thanks. It would be fair to say that each color block is equally important, and these two may have attracted more attention. Interestingly enough, this is exactly the same as the two realities of human society that they refer to and metaphorize. These are the two “cyber celebrity” color blocks. Everyone likes “cyber celebrity”, me too.
How do you know about this work?
Incidentally, I saw this piece for auction in a group discussing blockchain technology. When I opened the link, I found that this work fits my goal of NFT works in line with the spirit of the times. So I took advantage of my travel time to participate in the auction.
Is it a coincidence that the final bids for both color blocks were you and Meteor2020, and both started at 2 ETH?
Yes. But I’m still a little nervous about the final bidding process. Because it’s not like at Sotheby’s or Christie’s where the action is fixed every year and the rules of the game are completely new. Moreover, the internet was often jammed.
What’s the core of the “Red & Blue” bidding?
The emergence of any new style or school of art must be closely in tune with the spirit of the times. Tradition and classics have their own immortal values, but new art must find a new aesthetic quality that can capture the projection of human tension left by the changing times, and NFT Art is certainly no exception. The bidding of Liu Jiaying’s “Red and Blue” is an attempt to “catch” it.
Whether it is the decentralized utopia represented by blockchain technology, the underlying foundation of NFT Art, or the rise of technological nationalism; whether it is the crisis-ridden, conflict-ridden and polarized world we are living in, or the demand for unbalanced globalization that is responsible for the division of global communities… …the act of bidding on a mixture of different ideologies of color triggers the participants’ thoughts and choices about the above dilemma. I chose to do so because I still perceive common human values in the already polarized ideologies, and because I hope that technological advances and artistic development can once again help to reunite human society.
How many pieces of CryptoArts do you collect? Do you have a physical work, or a traditional work?
This is my first collection of CryptoArts. I have several small pieces of traditional artwork that are personal hobbies.
Traditional art is more likely to take me back in time and help me find a connection to known time. CryptoArts is the future and is more likely to spark my curiosity about unknown time.
What are your expectations for the future of encrypted art?
The future of the new art is unpredictable. So, it’s more fun.
I also look forward to the original creator of this piece, Liu Jiaying, creating more NFT pieces that hit the times and the heart.
The following is a list of successful auctions for the color block：
No. 1 2.3153 ETH
No. 2 0.03 ETH
No. 3 0.1 ETH
No. 4 0.01 ETH
No. 13 0.02 ETH
29 No. 0.011 ETH
47 No. 0.01 ETH
No. 51 0.05 ETH
No. 55 0.03 ETH
No. 64 0.01 ETH
89 No. 0.05 ETH
No. 97 0.011 ETH
99 No. 0.05 ETH
No. 98 0.05 ETH
No. 100 2.5578 ETH