KEY TAKEAWAYS
- Bounce Brand successfully hosted the first blockchain auction of Claude Monet’s ‘Paysage’, selling it to Oak Grove Ventures.
- The auction, conducted on Ethereum, attracted over 570 unique wallet addresses and concluded with a sale price of 86.0405 ETH.
- Bounce Brand introduced Memeory Coin to commemorate the event, with Oak Grove Ventures receiving 1% of the total supply.
Bounce Brand, a prominent on-chain auction platform, has successfully hosted a groundbreaking auction of Claude Monet’s ‘Paysage’ painting. This event, conducted in partnership with SeoulAuction Blue and BounceBit, marks the first time a Monet painting has been auctioned on the blockchain. The auction concluded with the painting being sold to Oak Grove Ventures, an investment firm focused on emerging technology sectors.
The auction of ‘Paysage,’ an authentic masterpiece by Claude Monet, commenced on November 18 at 4 AM UTC on Bounce Brand’s platform. Conducted as an English auction on Ethereum, it began with a floor price of 0.25 ETH and attracted over 570 unique wallet addresses. Approximately 16.5 hours later, the painting was sold for 86.0405 ETH to Oak Grove Ventures.
Monet’s ‘Paysage’ and Its Blockchain Journey
Claude Monet, a celebrated French painter and founder of Impressionism, is renowned for his ability to capture the transient beauty of nature. ‘Paysage’ exemplifies this with its soft, atmospheric tones and interplay of light and shadow. The painting’s authenticity is well-documented, having been auctioned three times previously at Sotheby’s.
The auction was facilitated by Bounce Brand, known for its Auction-as-a-Service model, which empowers permissionless auctions for tokens, NFTs, and real-world assets. This event represents a significant merger of fine art and blockchain technology, expanding the reach of traditional art markets.
Introduction of Memeory Coin
To commemorate the auction, Bounce Brand announced the launch of a special memecoin called Memeory Coin. This initiative aims to blend the beauty of fine art with the cultural essence of memes. Oak Grove Ventures, the auction winner, will receive 1% of the total Memeory Coin supply, while the remaining bidders will share 9% of the supply.
The Memeory Coin’s ticker and contract address will be revealed shortly after 4 AM UTC on November 23, followed by initial liquidity provision on Ethereum and distribution to all participants. This innovative approach seeks to create a lasting memory of the event and reward participants for their involvement.
For more details on the auction and its outcomes, visit the official announcement here.
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