A team of emerging artists at Edge Hill University joined forces in a bid to make history as the first university students to collectively sell a digital artwork with a non-fungible token (NFT).
The photography students are jumping on the latest cryptocurrency craze, which has seen investors spend millions of dollars on digital items called NFTs. NFTS are “one-of-a-kind” digital assets that represent real-world objects such as art, music and videos. They create a certificate of ownership of an original digital asset that can be bought and sold online with cryptocurrency.
The young artists, who work collectively under the name Fourteen Thirty Four, believe this will be the first time that a university has sold a collection of its students’ artwork as an NFT.
NFTs have become an increasingly popular way to buy and sell digital artwork, with digital artist Beeple recently selling an NFT of his work for $69 million at Christies, catapulting him into the top three most valuable living artists.
Following in Beeple’s footsteps, the young artists have combined a series of powerful images they have captured to create a unique digital artwork which will be auctioned later this month. Any money raised through the auction will be shared among the students and used to buy equipment for a physical exhibition of their artwork.
The winner of the auction will receive high resolution TIFF and JPEG versions of the file and all 260 individual images at the original size and resolution.