BitchCoin | An Art-Backed Cryptocurrency

Speculation, based on a photograph by Evan Robinson, is the first image to back BitchCoin. It is currently stored in safety deposit box #138 of HSBC, 110 William Street, NY, NY 10038.
Speculation, based on a photograph by Evan Robinson, is the first image to back BitchCoin. It is currently stored in safety deposit box #138 of HSBC, 110 William Street, NY, NY 10038.

 

What happens when we begin to invest in the artist instead of the art? This is the question Sarah Meyohas, a young artist who, fresh out of Wharton Business School, headed straight into Yale’s MFA program, hopes to answer with her latest project.  BitchCoin, is a cryptocurrency that is backed by her art. Not pieces of it, necessarily, but inches. One BitchCoin, sold for $100, is worth 25-square-inches of any one of her photographic prints.

BitchCoin Logo
BitchCoin Logo

 

Simply put, one BitchCoin, sold for $100, is worth 25 square inches of any one of Meyohas’ photographic prints. This includes all current and future artwork. When you buy a BitchCoin, you receive a certificate with an encrypted number; this slip of paper can be redeemed at any time for physical artwork. Purchasing a complete print requires 25 BitchCoins, or $2,500.

Like any market, the BitchCoin market will fluctuate over time, and the currency could come to be worth much more—or much less—depending on Meyohas’s future success as an artist, which is the point of the project.
One thing is for sure already, Meyohas, together with Brooklyn’s Where gallery, created the most clever named currency.

 

 

via wired  |  artnet