ARCO first NFT digital work art sold 10400 euros - The first digital work of art in NFT format exhibited at ARCO, sold for 10,400 euros.

Tree Hash, the first work in NFT format that has been exhibited at ARCO, has been sold this weekend.

The transaction has been made for about 10,400 euros, according to one of the miners of the NFT of the artist Solimán López, who has digitized a real bonsai that is connected by geolocation with the file in NFT format. Its initial selling price was 12,000 euros.

ARCO first NFT digital work art sold 10400 euros

"The work shows a complete exercise of integration of nature and biology in digital environments", point out about the NFT from the Baró gallery, through which the work of the artist from Burgos was exhibited at the artistic event held from July 7 to 11.

This edition of the International Contemporary Art Fair of Madrid has paid off with 20,000 visitors, all of them professionals from the art world due to the pandemic, and has been one of the most "digital".

ARCO first NFT digital work art sold 10400 euros

In addition to López's, another work that criticized speculation around the NFT market was exhibited: Shred (Shredder), by Daniel Canogar from Madrid.

However, the ARCO-BEEP Prize for Electronic Art, which has been awarded for 16 editions, has been won by the artist Marina Núñez, for her works Naturaleza Muerta Oleaje and Naturaleza Muerta Tornados.

The presentation to the public of a work that is marketed in NFT format in a great artistic event such as ARCO, as well as its subsequent sale, testify to the boom that cryptography and specifically non-fungible tokens (NFT) are experiencing within the art world.

ARCO first NFT digital work art sold 10400 euros

The celebration of the 41st edition of the event, between 23 and 27 February at Ifema, will serve to take the pulse of the works transferred to NFT archives within the artistic panorama.

NFT are digital assets based on blockchain technology, through which their exclusivity is guaranteed, in addition to their authorship. The use of blockchain is spreading more and more in the art world, although it goes far beyond this realm.

And it is that you can undermine absolutely anything. In fact, some experts in NFT place the boom of this type of files in a series of million-dollar sales in 2016 of designs based on the Frog Pepe, a common meme on social networks that has been associated with the political current altright. And it's not the only meme that's been sold.

ARCO first NFT digital work art sold 10400 euros

The upward trend of these digital assets is clear. In the art world, works from Banksy to a work by artist Beeple, which was auctioned at Christie's, have been marketed.

In the auction world, NFT have found an ideal ecosystem. For example, Sotheby's sold the source code of the World Wide Web a few days ago for 5 million dollars (4.5 million euros, approximately).

This type of sales has not been without criticism and many question the value that is being paid for the acquisition of these encrypted objects. From the art world the artistic quality of many of these works is questioned.

But the value in auctions and sales in general of these types of objects is what the buyer is willing to pay. Which in many cases is a lot. For example, Twitter CEO Jack Dorsey sold in March this year an NFT of his first tweet on that social network for $ 2.9 million.

ARCO first NFT digital work art sold 10400 euros

More news:

SEPE subcontracts the service to improve the system of unemployment benefits after announcing the cessation of 1,500 interim employees that it incorporated during the pandemic

The State Public Employment Service (SEPE) will subcontract the service to improve the management system of unemployment benefits, after publishing on the State Contracting Platform a tender from the General Directorate of the SEPE for the provision of this service within a 4-year contract valued at more than 4 million euros, according to Information.

The announcement of this subcontract is not a novelty, given that this service was already privatized at present and what is sought is the renewal of the contract that the company Babel Sistemas de Información is currently awarded, according to the digital newspaper, which emphasizes that it will end before the deadline foreseen by the exhaustion of credit due to the development of the temporary employment regulation (ERTE) files during the pandemic, which led the SEPE to the verge of collapse.

However, the main novelty of this announcement of a new round of subcontractors is that it occurs a few days after the Ministry of Labour, which depends SEPE, contact the eesc to 1,500 interns that joined since the start of the coronavirus to cope with an overload of work, a measure that was claimed by the General Directorate of the Costs of the Ministry of Finance.

In this way, the departures of interim workers began to occur at the end of last month and will be completed before 2022, with 500 workers dismissed before June 30, a similar amount planned to leave on September 30 and another 500 interim workers who will leave their functions before December 31, according to the Information, which specifies that the first 500 dismissals have been added another 635 casualties.

These 635 dismissals correspond to the Temporary Employment Stabilization Plan and relate to positions that cannot be filled again for a month to comply with the regulations. All this, after the Government has committed to the European authorities to reduce the temporary nature of the public service, which reaches 41.9% in public health and 29.1% in education, which caused Brussels to demand measures to curb this trend.

However, the layoffs, which will entail a reduction of 1.135 workers in the SEPE during the summer, they have been criticized by the trade unions, who believe that this service will nearly collapse during the summer period to coincide with the holiday of the rest of the staff, making the processing of unemployment benefits and FATE, especially after the cyber-attacks that have suffered the service.

The union centers criticize that the temporary terminations imply a cut in staff and criticize the expenditure made in outsourcing and privatizing services, as happened with part of the management of the ERTE, tendered to Tragsatec, and after the cyber attacks suffered by Labor in June. CCOO and USO point out the expenditure destined to privatize services compared to that destined to reinforce the structural staff of the SEPE and refuse to hand over the control of the benefits to private companies.