Ana Maria Caballero's poem 'Cord' sets a new precedent in digital art, fetching 0.28 BTC at Sotheby's.
In a groundbreaking event for the art and literary world, Sotheby's has successfully auctioned off an individual poem as a Bitcoin Ordinals Non-Fungible Token (NFT), marking a significant moment in the intersection of technology and the humanities. The poem, titled "Cord," was written by Ana Maria Caballero and fetched a price of 0.28 Bitcoin, equivalent to $11,430.
The sale of "Cord" is noteworthy for several reasons. Firstly, it is the first time Sotheby's, a prestigious auction house, has sold a poem as an individual piece, separate from manuscripts or books. This sets a precedent for the valuation of poetry in the digital age, affirming that written works can hold inherent worth as collectible digital assets.
Bitcoin Ordinals are a type of digital artifact inscribed on the Bitcoin blockchain. They are similar to NFTs, which have gained immense popularity on platforms like Ethereum. However, Bitcoin Ordinals are unique in that they are inscribed directly onto satoshis, the smallest unit of Bitcoin, leveraging the security and decentralization of the Bitcoin network.
The buyer of "Cord" not only gains ownership of the digital inscription but will also receive a signed print of the poem, bridging the gap between the physical and digital realms of art collection.
The sale of "Cord" is part of a larger trend where NFTs and blockchain technology are being explored for their potential in the art world. Artists and collectors alike are finding new ways to create, share, and own art in a digital format that is verifiable and unique.
Sotheby's Natively Digital collection, which included "Cord," showcases various artists and their work in this new medium. One notable sale from this collection was an inscription from the 'Quantum Cats' collection, which sold for over $250,000, highlighting the high demand and value of these digital artifacts.
