Forex in this article
• Bought four Cryptopunks NFTs
• Incorrect information when transferring to a new wallet address
• No resale possible
Crypto mining before the eyes of museum visitors
The Center for Art and Media Karlsruhe (ZKM), established in 1989, says it has set itself the task of bringing classical art into the digital age. As part of the exhibition “Open Codes – The World as a Data Field”, which was shown between 2017 and 2019 and which depicts the importance of data today, “Cryptolab” was also launched. According to the ZKM website, programmer and crypto expert Daniel Hess’s demonstration showed how a computer mined bitcoins. “The rapid evolution of hardware can be traced from the simple workplace computer to the highly specialized ASIC miner from China. On the one-shot miner specially developed for the exhibition, you can try your luck at the push of a button. block you and maybe 12, win 5 bitcoins as a reward. However, this is much less likely than winning the lottery,” the museum reported.
NFT sent to wrong wallet address
According to “SWR2, Heiss purchased four non-fungible tokens (NFTs) from the Cryptopunks chain in 2017 using cryptocurrencies mined by CryptoLab. At the time, each digital collectible cost 90 euros, as the IT expert explained. To secure the NFTs, he then wanted to send them to a wallet specially set up for the purpose. However, according to Südwestrundfunk, he gave incorrect wallet addresses for two out of four CryptoPunks. Thus Hayes has lost all access to the two Pixel artworks and can neither sell them nor transfer them to another wallet. “I was on Etherscan and copied and pasted the Cryptopunks contract smart contract address, which is also a valid wallet address that no one has the keys to,” Hayes told The Art Newspaper.
Some Cryptopunks NFTs are sold at terrible prices. According to “NFT Evening”, the series’ most expensive sale completed in February with #5822. Deepak Thapliyal, CEO of blockchain company Chain, paid the equivalent of US$23.58 million for the digital image.
NFTs can still be issued
“Certainly no one was happy about it,” the crypto connoisseur admitted to “Monopole.” The sale of NFTs was not planned anyway. Nevertheless, Cryptopunks are still owned by ZKM and can still be displayed. According to the museum, this happened last year when various NFTs were shown on a screen on the ZKM Cube. Currently, three of the 24 x 24 pixel characters can be found on the project page, which are randomly generated and embossed as NFTs. These are Cryptopunks #1286, #2554 and #2838.
According to NFT marketplace OpenSea, CryptoPunks #1286 and #2554 are linked to a wallet that also includes other artifacts displayed in the museum’s NFT exhibition. However, the crypto wallet corresponding to #2838 is not available on the platform, indicating that it is a lost address.
Focus on “Chain of Origin” Instead of Business
“Punks’ broadcast was a stupid copy/paste mistake,” the curator told The Art Newspaper. “But looking at it another way, this is kind of a statement about what blockchain and cryptography are all about.” During the error, Heiss learned about the DEAD NFT project, which collects NFTs that may never change hands again because they were sent to the wallet address of the initiator, but whose keys are unknown. This means that digital goods can no longer be owned and are, so to speak, “dead”. “Maybe it’s less about the potential for business with the work and more about setting up a series of originals,” Hayes told the art portal.
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