The concept and technology of cryptocurrency can be difficult to explain at the best of times, so when you find out someone sold a photo of a rose as an Ethereum (ERC20) token for $US1 million… it’s hard to know where to start. Other than to say: yes, this is a thing that happened.
The Forever Rose comes to us from Kevin Abosch, the same artist that made a million dollars selling a picture of a potato.
Unlike the tater, the rose was sold in the form of a single ERC20 token (unsurprisingly called “ROSE”), based on the above photograph.
Unfortunately, the official website doesn’t explain the implementation; you’re welcome though to look at the contract yourself on the Ethereum blockchain.
The token was split 10 ways, one for each buyer, however, it is further divisible, allowing collectors to share their portion if they so wish.
If you’re wondering, no, Abosch isn’t getting another massive payday. The $US1 million will be donated to the CoderDojo Foundation, a charity that helps young kids and teenagers get into programming.
[Forever Rose, via Crowdfund Insider]