Inspired by Crypto: Chinese Artist Creates Ethereum Based Tokens

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Inspired by Crypto: Chinese Artist Creates Ethereum Based Tokens
Weiwei said he believes that blockchain is an opportunity to set up a new system that could dismantle the old system, or at least offer a new possibility for communication.

Two world renown artists are working together on a new art project that utilizes a pair of newly-minted ethereum-based tokens.

Motherboard reports that, popular Chinese artist and activist Ai Weiwei is partnering with Irish conceptual artist Kevin Abosch to create two new freely distributable tokens, which according to them illustrates how worth is perceived and imbued within modern society.

The artists say their work would bridge the worlds of art and cryptocurrency. The explain that the project, dubbed PRICELESS (ticker symbol: PRCLS), involves twin tokens, one of which is made publicly available to the extent that, in theory, every person on the planet could own a fraction while the other token is locked away and inaccessible to anyone.

“It’s not about a potential for creating art, but rather to question the existing system and the potential to create a new system outside of the established one,” Weiwei told Motherboard.

He said he believes that blockchain is “an opportunity to set up a new system that could dismantle the old system, or at least offer a new possibility for communication.”

On his part Abosch said he embarked on the project in the hope that it would help society re-examine its entire value system.

“From the moment we’re born, people try to ascribe value to us — ‘Oh, that boy is so full of potential, or oh, that girl is worthless’ — it’s something society does to us and it’s something we do to ourselves … Our project is just another thing to engage people in the hope that they will spend a little bit more time reflecting on the perversity of how most of us ascribe value to things.”

According to Coinbase, Wallet addresses holding nominal amounts of the PRCLS token have already been printed on paper and sold to buyers, with each wallet address representing different “priceless moments” shared between Weiwei and Abosch.