As of January 1, 2021 the original auction for the Pixel has ended, and the second phase of this living artwork has begun. Each day the pixel will drop in price by 1 ETH from its original listing price of 1,780 ETH. This process will continue until the Pixel is purchased by a buyer, permanently etching what it’s worth into the blockchain of the Pixel, or until its value drops to .0006 ETH, the same as its partner piece of 9,999 pixels. Should the Pixel reach this point without a buyer, it will be permanently removed from the marketplace rendering it unvalued, but unattainable forever.
What is it worth to you?
What makes something valuable?
Is it rarity? It’s relation to another object, event, or a person? Or is it the history of the object itself?
How do we define any of these things?
These are the subjects I hope to explore with the living piece “What is it worth?”, a collection of two digital paintings:
They have been minted separately on blockchain as NFTs for sale and given independent values. The larger canvas is priced at $1, easily obtainable but incomplete. The Pixel removed from the larger canvas is an auction currently priced at $3 million, almost unattainable but complete on its own, with a price defined by its value to others.
As this collection exists online and on blockchain it creates and records a trail of digital history, fundamentally changing its value as ownership, price, and public relationship to the piece change. It is interactive in that the bulk of its value and meaning are defined by actions taken by others to interact with either picture online or on blockchain, creating a living piece that will continue to change and grow with or without any actions from me.