KEY TAKEAWAYS
- Bounce is hosting the Infinity Pump Auction, featuring a bronze Pumpkin sculpture by Yayoi Kusama, in collaboration with SeoulAuction Blue and BounceBit.
- The auction will occur in two stages, with bidding on the Ethereum Network and $AUCTION rewards distributed on the BNB Chain.
- Yayoi Kusama’s work is globally recognized, with her art achieving significant sales and popularity among collectors.
Bounce, a leader in blockchain-based auctions, is set to host another onchain real-world collectible auction in collaboration with SeoulAuction Blue and BounceBit. The event, known as the Infinity Pump Auction, will feature a bronze Pumpkin sculpture by renowned Japanese artist Yayoi Kusama. This auction follows Bounce’s previous success with the Claude Monet painting auction in November 2024.
The featured artwork, a bronze Pumpkin sculpture (Ed. 87/100, 1998), is part of a limited series of 100 pieces. Measuring 28.5 x 26.2 x 26 cm, this sculpture is notable for its polka dot design, a signature of Kusama’s work. Previously sold for over $137,000, it ranks among the top five most expensive bronze pumpkins. The sculpture symbolizes warmth, comfort, and the abundance of nature, making it a unique piece within Kusama’s celebrated oeuvre.
How the Infinity Pump Auction Works
The Infinity Pump Auction will unfold in two stages, offering participants multiple opportunities to engage and benefit. In the first stage, participants can bid for the Pumpkin on the Ethereum Network. The auction begins with a 30-minute countdown, and each bid costs 5 AUCTION tokens, adding another 30 minutes to the timer. The auction continues as long as the timer is active, and the last bidder when the countdown ends wins the Pumpkin. Each bid also grants a lottery entry for a chance to win a share of the $AUCTION prize pool.
The second stage involves winning $AUCTION rewards for free on the BNB Chain. A portion of the $AUCTION tokens from the Pumpkin auction will be distributed through a lottery draw. Participants need to stake BB or Broccoli 3Ef tokens to receive lottery entry tickets. Winners are randomly selected by a smart contract, and all staked tokens are fully refunded after the lottery ends.
Yayoi Kusama’s Global Influence
Yayoi Kusama is a pioneering figure in avant-garde art, known for her bold use of repetition, pattern, and immersive installations. Her work spans various mediums, including painting, sculpture, and performance, often exploring themes of infinity and psychological depth. According to a report by Artnet, Kusama achieved total sales of $72.6 million, ranking 10th in the “Top 10 Artist by Total Sales Volume, New York Day Auctions, 2015 to 2024.” Her global popularity and ongoing exhibitions make her artworks highly desirable for collectors.
The Infinity Pump Auction presents a rare opportunity for art enthusiasts and collectors to acquire a piece of Kusama’s iconic work. More details about the auction can be found here.
Why This Matters: Impact, Industry Trends & Expert Insights
Bounce’s collaboration with SeoulAuction Blue for the Infinity Pump Auction showcases the growing integration of blockchain technology in the art auction space. This event highlights the increasing trend of on-chain auctions for real-world collectibles.
Recent industry reports indicate the art market is increasingly embracing digital tools and sustainability. This aligns with the Bounce auction, which utilizes blockchain technology to enhance transparency and accessibility in art auctions.
As per insights from The Fintech Times, the blockchain sector is poised for significant transformation with a focus on institutional adoption and technological advancements. This supports the impact of Bounce’s auction by demonstrating the potential for blockchain to streamline and innovate traditional auction processes.
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