22nd Art Division Jury Selections
Neil MENDOZA [Japan]
Using blockchain, this work questions the value and ownership of art. The price of Art 3.0 is not subject to the whims of the art market but algo- rithmically determined and displayed in ETH, the Ethereum cryptocurrency, at all times. Each time the work is sold, its value increases 50%. The previous owner receives his purchase price plus 40%, a charity of the exhibiting institution’s choice receives 2.5% and the artist receives 7.5%.