The Algorand Foundation has revealed that the AB Infinite 1 NFT artwork owned by Andrea Bonaceto, a contemporary Italian artist, will feature in Christie’s upcoming auction. The auction will take place in London on the 13th of October during Frieze Week.
Algorand-Backed NFT To Feature In Christie’s Latest Auction
Meanwhile, the Algorand Foundation’s mission is to develop the Algorand ecosystem, a carbon-negative layer-one blockchain. Silvio Micali, an MIT prof and Turing Award winner, developed the blockchain in 2017.
However, the blockchain went live two years after its creation. Christie’s is a renowned art auctioneer who has sold several art pieces over the years.
The latest NFT artwork by the Italian artist is built on the Algorand blockchain. This piece is an interactive picture of Bonaceto’s life as it unfolded in the never-ending cycle known as “ab infinite” to the beginning, symbolized by 1.
“ab infinite” is the Latin word for “from infinity.” The Algorand technology makes interactivity possible on the AB Infinite 1. Algorand explicitly built an AI technology to capture viewers’ engagements through social media platforms.
This AI allows the general public to change digital artwork. The reactions or ideas of the audience are transformed into visual replies and included in the work.
On the artwork’s website, www.abinfinite1.com, viewers can see AB Infinite 1 as it transforms over time. To become a part of the AB Infinite 1 community, users can share their Instagram/Twitter accounts on the website. They can also use #abinfinite1 on Twitter/Facebook.
Shamir Ozery, Algorand Foundation’s Head of Web3, said Christie’s endorsement of NFTs developed on the Algorand blockchain illustrates the rising acceptance of virtual art.
About Bonaceto’s Paintings
Ozery said the recent development would introduce collectors who frequently attend Christie’s sales to the Algorand blockchain. Consequently, this will establish a new benchmark for NFTs.
Besides, the NFT industry is experiencing a digital art revival. This revival will redefine what art represents and what it is capable of doing.
Additionally, Bonaceto’s portraits have a distinctive colorful style, while his landscapes have a surrealist appearance with references to renowned artists such as Picasso and Kandinsky.
Furthermore, Bonaceto’s paintings reflect this characteristic vibrant style. The most essential aspect of Bonaceto’s artistic process is conveying genuine emotions.
The artist, Andrea Bonaceto, stated:
“I am humbled to have AB Infinite 1 featured in Christie’s famous Evening Sale with other classic works of art classics. I regard NFTs as a tool that can be used to communicate not just as certificate of originality.”
Bonaceto added that NFTs are tools in the hands of artists to construct ideas and conceptions. In the case of AB Infinite 1, Algorand’s ARC-19 standard for NFTs has served as a technological paintbrush.
The blockchain made it feasible the upgrading of NFT painting on-chain. This on-chain upgrade depends on people’s interactions on social media.