Tuesday, February 18, 2025

Bounce Brand and SeoulAuction Blue to Host First Blockchain Auction of Monet’s ‘Paysage’

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KEY TAKEAWAYS

  • Bounce Brand partners with SeoulAuction Blue and BounceBit to host the first blockchain-based auction of Claude Monet’s ‘Paysage’.
  • The auction will use Ethereum’s blockchain to ensure transparency and global accessibility, with bids starting at $1,000.
  • SeoulAuction Blue provides the painting’s Provenance, while BounceBit enhances security with its dual-token PoS Layer 1 chain.
  • This event marks a significant fusion of traditional art and modern blockchain technology, offering a new way to engage with fine art.

Bounce Brand, a prominent on-chain auction platform, has announced a partnership with SeoulAuction Blue and BounceBit to host a groundbreaking auction of Claude Monet’s ‘Paysage’. This event marks the first time a Monet painting will be auctioned using blockchain technology, merging the realms of fine art and decentralized finance (DeFi). The announcement was made here.

The painting, an authentic masterpiece by the renowned Impressionist, comes with its Provenance provided by SeoulAuction Blue, ensuring its authenticity and historical significance. ‘Paysage’ showcases Monet’s ability to capture the fleeting beauty of nature, rendered in soft, atmospheric tones with a dramatic, cloud-filled sky.

Blockchain Technology Meets Fine Art

The auction is set to commence next week on Bounce Brand’s on-chain auction platform. It will take the form of an English Auction on Ethereum, with a floor price of $1,000, allowing participants to place bids using Ethereum (ETH). This innovative approach leverages decentralized technology to offer enhanced accessibility and transparency, enabling global participation via phones or computers.

Every bid will be recorded as a publicly verifiable on-chain transaction, ensuring a secure and immutable record of activity. This unique auction provides multiple layers of rewards for participants, further enhancing the experience.

SeoulAuction Blue and BounceBit’s Role

SeoulAuction Blue, an affiliate of Korea’s oldest and largest auction house, has been instrumental in bridging art and finance. Since its establishment in 2016, it has hosted a variety of auctions, reflecting diverse tastes and categories. The collaboration with BounceBit, a public blockchain powered by BTC restaking, enhances the auction’s security and transparency.

BounceBit’s dual-token PoS Layer 1 chain, secured by Bitcoin and $BB, offers full EVM compatibility, allowing users to earn interest and utilize liquidity custody tokens for restaking and on-chain farming.

This auction represents a significant step in merging traditional art with modern blockchain technology, creating a bridge between history and innovation.


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Shree Narayan Jha
Shree Narayan Jha
Shree Narayan Jha is a tech professional with extensive experience in blockchain technology. As a writer for CoinsHolder.com, Shree simplifies complex blockchain concepts, providing readers with clear and insightful content on the latest trends and developments in the industry.

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