The first-ever on-chain auction of a Claude Monet Paysage was organized in collaboration with BounceBrand, SeoulAuction Blue and BounceBit. This auction plays an important role in the world where visual art and blockchain exist simultaneously, rewriting history and placing Monet’s artworks on a decentralized platform.
🚨The #auction of Claude #Monet’s Paysage is now LIVE!! 🖼️
📍: https://t.co/OSdfK8DUFu
Bidding for visual arts. Bid on #RWA. Bid on the 𝑴𝒆𝒎𝒆𝒐𝒓𝒚.
Guide: https://t.co/3k3m3Rsqqv pic.twitter.com/vDIrwMrnWd
— Bounce Brand (@bounce_finance) November 19, 2024
Monet’s Paysage: a timeless masterpiece
‘Paysage’ is one of Claude Monet’s great impressionist paintings in which he depicted the beauty of land, weather and lighting. The painting is made in varying shades of blue, with clouds depicted calmly with a hint of faint structures in the distance, and this shows how masterful Monet is at capturing nature’s coldest art. Since this work of art is part of history and art, it is considered a great asset for any art collector.
The auction details: Combining tradition with technology
The auction starts on November 19 and uses the English auction format with a minimum bid price of 0.25 ETH. Each bid must be 0.1–0.15 ETH higher than the previous bid, and if no other bid is made for six hours, the highest bidder wins. These types of auctions are made possible by BounceBit’s blockchain, which makes transactions completely transparent and secure.
The pre-auction events have already begun, and some of the ways investors can acquire Memoory Coins include staking tokens such as the $AUCTION and $stBB tokens. Additionally, unlike traditional sales, participants can guess what the final auction price might be, creating an interactive layer to the process. Since the painting’s value is estimated at between $200,000 and $300,000, the fairly accessible initial bid lowers the barrier to entry.
What’s next: Rewards and delivery
The final distribution of the Memory Coins will take place after the auction; a large portion will be held in reserve to provide liquidity. These tokens are sold on the Uniswap platform, which links the event to Decentralized Finance. The winning bidder will receive Monet’s Paysage to his or her address with extra care to ensure they are handling an art masterpiece.
This particular auction is not just a sale of works of art; it is a marriage between art and innovation using technology. Through Bounce Brand with SeoulAuction Blue and BounceBit, art lovers can access great art on the digital platform anytime, anywhere.