WORK, from ‘The Artists’ Resale Royalty Blockchain Manifesto’ series, 2022

Ink and acrylic on canvas, c. 450mm x 800mm. Black on orange.

An R_SQRD collaboration.

This painting is for sale as a physical artwork accompanied by a single digital artwork NFT edition.  The purchaser of the painting will own both the painting and the NFT edition.

Proof of work is a software algorithm used used to verify the accuracy of new transactions that are added to a blockchain.  Proof of work techniques are employed by decentralized cryptocurrency networks to ensure the integrity of new data.  Proof of work techniques are necessary as cryptocurrencies do not have any centralised governing organisation. Bitcoin was the first cryptocurrency created by Satoshi Nakamoto in 2008 and was based on a Proof of Work protocol that allowed network participants, known as miners, to be rewarded for verifying new data.  The high energy consumption and difficulties with scalability has led to the development of other algorithms such as proof of stake.

The artist will receive a 5% royalty on the resale value of the work if sold on the secondary market via blockchain.