Pascal Boyart is a street artist based in Paris who has begun adding QR codes to his mural paintings, which gained attention on Reddit on April 30. The street artist got the idea after developing an interest in bitcoin and cryptocurrency.
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The QR code enables people impressed with the artwork to make donations to Boyart. The trend has caught on, and people have been making contributions up to the tune of $1,000 in bitcoin. This is another example of how bitcoin is changing the face of the art industry as well as the .
The Melding of bitcoin and Art
is becoming a prominent theme in the artistic and creative universe. There are artists all over the world who create pieces that are inspired by the bitcoin revolution, incorporating elements from the crypto arena into their artworks.
For Boyart, part of his fascination with bitcoin is the solution it brings to the problem of securing patronage as an artist. Platforms like Patreon and Ulule have come to supplement the efforts of galleries, but it is still not enough to service the art industry. So many talented artists struggle through lack of patronage and are forced to do menial jobs to support their talent.
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Boyart has, however, found a way to secure patronage from a rapidly increasing user base using bitcoin donations. The artist has formed the habit of putting QR codes in his paintings, calling for donations. He came into some degree of prominence when one of his artworks became a trending topic on the bitcoin subreddit. The consensus on the forum wasn’t only that the mural was good but that the bitcoin QR code idea was novel.
The French street artist tries to also express the current crypto economic landscape in his paintings. The painting which became popular on Reddit was of Rembrandt, the famous 17th-century Dutch painter. Despite his incredibly undeniable talent, Rembrandt never achieved commercial success in his time, and he struggled throughout his career with mounting debt. He even had to sell his house at some point to pay his debts. In the painting, Rembrandt is seen holding a newspaper.
Decentralization Will Disrupt the Creative Industry
Boyart believes that the concept of decentralization being championed by bitcoin and other cryptos has the potential to the art industry. Commenting on the Rembrandt mural, he that it wasn’t the first time he had incorporated a bitcoin QR code in his work:
“I first included a bitcoin QR code in my work in November 2017. I painted a street art piece of a child asking his father ‘Dad, what is money?’ And I placed a QR code at the side of my signature. I wasn’t sure if someone had done this already, but I wanted to see if people could support street artists with donations. I did it as an homage to Andreas Antonopoulos’ book The Internet of Money.”
Dad, What is Money? Source:
Since Boyart began collecting donations via bitcoin QR codes in his paintings, the artist has received (about $1,000). He believes that artists and those involved in the creative industry have a lot to benefit from adopting crypto and blockchain technology. Fellow French visual artist, Youl is also known for incorporating crypto themes in his artworks. In fact, “,” a fresco painted by Youl is considered to be one of the most iconic crypto-themed artworks.
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The Stock Exchange of Thailand (SET), with the help of the public and private sectors, has officially released its , a blockchain-fueled crowdfunding platform built to fund Thailand startups and small and medium-sized enterprises.
SET Looks to the Future with Blockchain Tech
Following in the footsteps of the and the , the SET, based in Bangkok, established Live Fin Corp Co. Ltd. where 99.99 percent of the shares are held by the SET. Its innovative creation, LiVE, the technical platform, built and based on a blockchain infrastructure, will provide Over-the-Counter (OTC) trading to assist startups and SMEs in Thailand to access capital funding.
Eight companies from business sectors such as Mobile Applications, Consumer Products, and Medical Equipment have already joined with over 50 more to follow suit.
“SET is determined to offer growth opportunities through the creation of a complete startup ecosystem, inclusively from the business management education for startup and SME entrepreneurs to assistance in connecting with institutional and accredited investors. “LiVE” platform will be a key mechanism to help drive forward Thailand’s growth especially enabling startups and SMEs to have more financial accesses through crowdfunding,” explained SET President Kesara Manchusree.
“Businesses can utilize LiVE to promote to a wider target group while using partnership to expand customer base. In addition, this platform also offers opportunities for investors, both individual and corporate, who are qualified by the Securities and Exchange Commission (SEC) regulations, to select to invest in their preferred business with growth potential.”
Businesses Must be Audited to Join Blockchain Platform
There are a few rules and guidelines, however, which a business must conform to participate in this new blockchain-based platform. The first and foremost is that they have to be companies registered in .
Additionally, the founders and executives must carry no criminal records, and certified auditors must conduct a financial statement audit. More specifically, in order to raise over THB 20 million ($625,000), an eligible business must prove they have previously raised at least THB 5 million ($156,000), or be endorsed by a certified sponsor. For fundraising over THB 100 million ($3 million), financial statements audited by SEC-certified auditors must be presented.
Four types of investors will be accommodated: 1) Institutional investor, 2) Venture capital, 3) Corporate venture capital, and 4) Specific investor with an annual income of no less than THB 4 million ($125,000) or with combined assets worth at least THB 50 million ($1.5 million) and at least one year of investment experience.
The LiVE platform is just another example of the evolution of expanding at an unprecedented pace in a multitude of directions, to increase convenience and expand access within the financial sector, as well as in almost every other public and private arena including , , and .
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