Kevin Abosch, photographer and conceptual artist, just sold “Yellow Lambo”, a blockchain-inspired artwork, for more money than the actual starting price for a Lamborghini, $400,000. This work was inspired by #lambo, the hashtag often used on cryptocurrency forums.
Abosch became famous in 2016 as he managed to sell a photograph of a potato for over $1 million. Then, in February 10 collectors bought another one of his artworks for $1 million but the payment was done in cryptocurrency. All this followed last week’s sale, a special digitally-inspired artwork with the name “Yellow Lambo”. The buyer was Michael Jackson, Skype COO.
This artwork is made out of 42 alphanumerics arranged in line and in yellow neon. They represent a blockchain contract address for an Abosch created crypto token, YLAMBO. The artwork was named after the #lambo hashtag. In an interview with Business Insider, Kevin Abosch declared:
When I first became aware of the use of #lambo on social media, it struck me as vulgar. But the more I thought about it, I realized that it’s actually just a declaration acknowledging the insanity around the crypto zeitgeist.
The Lamborghini is a highly prized commodity in the community. During the past years it turned into a symbol for cryptocurrency-acquired affluence. Abosch was practically inspired by the symbolic trappings of the Lamborghini. His conceptual artwork was thus described “meditation on value”. Speaking about “Yellow Lambo”, Abosch said that some people do not understand why people spend $400,000 on a car while others do not understand why people spend this amount for bitcoin. He went on to say everything is a discussion about how things are valuated.
It is definitely interesting to think about the value of things but what is given is that people are now actively interested in cryptocurrency and we see some that actually spend a lot of money on art and other things related to blockchain technology. It will be hard to break the records Abosch sets every year but who knows? Maybe a picture of an Ethereum token will be sold for millions in the future.