World's Most Expensive Artwork
World’s Most Expensive Artwork, an artwork made by the freelance artist and illustrator Frederik F. Mettjes, launched as the very first of its kind crypto-artwork of the planet. The artwork is programmed by the blockchain-based ‘smart contract’ algorithms to be costlier than any other artworks in the globe.
The World’s Most Expensive Artwork unites the technology of blockchain along with the principles of the commercial art market and digital painting. It is considered the very first crypto-artwork that distinguished its selling cost, making it the most expensive piece of art in the universe.
Named as “Ente mit Wasser,” the original source code and digital painting of the artwork is stored and encrypted securely on the Ethereum blockchain, meaning it’s only accessible by the owner of the artwork. There aren’t any other copy comprising the original HD quality, and there’s no watermark exists. The crypto artwork is deemed to have 1-million ERC-20 tokens, which are available to everyone through the cryptocurrency of Ethereum (ETH). Such crypto-tokens acts to preserve the value of the artwork. That’s because they symbolize a share of the drawing and can be traded freely without having to sell the entire artwork.
The World’s Most Expensive Artwork has 1 million token shares which are based on the ERC20 token standard of Ethereum. The Coin or Token name is WMEA. One WMEA embodies the one-millionth part of the value of the crypto artwork. Small segments of the tokens are also accessible.
What makes it the most expensive artwork of the world is that the algorithms in the smart contracts are programmed so that the cost is higher than the price of the costliest artwork ever sold on the market. Apart from that, the standard value of the piece of art – along with the consideration of the inflation rates – is continuously becoming more expensive. This artwork can’t be possessed at a low price, and even the creator can’t lower the price.
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