Photo“We were trying to explore how a cryptocurrency could relate to scarcity in the art market,” Mr. Sarrouy, 32, said in a telephone interview. “It reinterpreted Marcel Duchamp’s gesture of the ready-made in a radical way.”But why Richard Prince? “The project is interesting,” said Judy Mam, an organizer of the Rare Digital Art Festival, referring to the Distributed Gallery’s Duchampian token. Being pegged to cryptocurrencies, digital collectibles have risen (and fallen) in value at a far faster rate than just about everything in the analogue art world. “If you can create a market for kittens, you can do it for digital art,” said Anders Petterson, author of the Hiscox Online Art Trade Report.

Source: New York Times January 13, 2018 11:26 UTC