ANDREA BONACETO (B. 1989) - photo 1
ANDREA BONACETO (B. 1989) - photo 2

ANDREA BONACETO (B. 1989)

Lot 50
13.10.2022 14:00UTC +00:00
Classic
Sold
£ 151 200
AuctioneerCHRISTIE'S
Event locationUnited Kingdom, London
Buyer Premiumsee on Website%
Archive
The auction is completed. No bids can be placed anymore.
Archive
ID 829055
Lot 50 | ANDREA BONACETO (B. 1989)
Estimate value
£ 100 000 – 150 000
ANDREA BONACETO (B. 1989)

AB Infinite 1

unit name: ABInf1

creator address: EMPT2JVHMIKH66Y6QA4P6ELL4UAMVGLRYYUULTYDFLQS3LDDKZPBHXDOQU

token ID: 742860434

Mutable ARC-19 NFT created as an Algorand ASA with corresponding 33734 x 1606 pixel image. The work is driven by artificial intelligence data processing, where certain portions of the artwork automatically update every few days based on people's interactions on social media. The source file is a vector which can be adapted as a video loop for any screen size or pixel image.

Executed in 2021-2022 and minted on 16 May 2022 on the Algorand blockchain. This work is unique and is accompanied by a non-fungible token.





Provenance

The artist.



Exhibited

New York, Times Square, Marriott Marquis, Andrea Bonaceto: AB Infinite 1, 2022.

New York, Times Square, Big Kahuna, Andrea Bonaceto: AB Infinite 1, 2022.

London, W1 Curates, Flannels, Andrea Bonaceto: AB Infinite 1, 2022.

Milan, Museo della Permanente, DART 2121, 2022.



Special Notice


We will invoice under standard VAT rules and VAT will be charged at 20% on both the hammer price and buyer’s premium and shown separately on our invoice.
Please note that non-fungible tokens (NFTs) are not regulated assets in the UK or protected by financial compensation schemes. The value of an NFT could go down as well as up. For tax purposes, including potential sales tax, NFTs may be considered a digital service or digital product and thus Christie’s may be required to collect relevant taxes dependent on local laws. Tax may be payable on profits from investing in an NFT. You may wish to consult an independent tax adviser.
Whilst each NFT is associated with a digital asset (for example, the digital artwork), they are separate and distinct. Purchasing a NFT does not mean that you are buying the digital asset associated with the NFT. You should check before bidding what rights to the digital asset you obtain by virtue of buying the NFT (if any). Please see the Conditions of Sale for further information.
Except in the event you are a resident of Mainland China, you may elect to make payment of the purchase price for this lot in the cryptocurrency Ether, Bitcoin or USD Coin. Payment in Ether, Bitcoin or USD Coin must be made to Christie’s via a digital wallet maintained with one of the following: Coinbase Custody Trust; Coinbase, Inc.; Fidelity Digital Assets Services, LLC; Gemini Trust Company, LLC; Gemini Europe Limited; Gemini Europe Services Limited; Paxos Trust Company, LLC; Digivault Limited; Ziglu Limited; or Archax Ltd. Only payments sent from digital wallets maintained at these platforms will be credited towards this lot purchase, and we will not recognise payments from digital wallets hosted at other exchanges or self-hosted wallets. The digital wallet must be registered to you, or, if you registered to bid as a company, then in the name of the company. You agree, upon our request, to provide documentation confirming that the payment was made from a digital wallet registered in your name and maintained at one of the platforms listed above. Partial paymen
You must pay the purchase price no later than 24 hours after we issue you with an invoice if you elect to pay for this lot in Ether, Bitcoin or USD Coin, or by the end of the seventh calendar day following the auction for all other currencies. The relevant exchange rates will be disclosed in the invoice. For further information and to view our Buyer’s Premium rates, please view the Conditions of Sale via the link below.
Please note that any tax for this artwork will depend on buyer geo location. If this artwork is invoiced to a UK address, standard VAT rules apply.



Post Lot Text

The interactive component of this work will continue until the 12 October 2022 at 23:59 BST, when it will be frozen by the artist. The buyer of this work may choose to re-open this facility in collaboration with the artist.

This work has been requested for inclusion in the following upcoming exhibitions:
Beijing, CAFA Art Museum, Andrea Bonaceto: AB Infinite 1, November 2022 - December 2022.
Milan, MEET Digital Culture Center, Andrea Bonaceto, December 2022 - January 2023.

Please note that non-fungible tokens (NFTs) are not regulated assets in the UK or protected by financial compensation schemes. The value of an NFT could go down as well as up. For tax purposes, including potential sales tax, NFTs may be considered a digital service or digital product and thus Christie’s may be required to collect relevant taxes dependent on local laws. Tax may be payable on profits from investing in an NFT. You may wish to consult an independent tax adviser.

Whilst each NFT is associated with a digital asset (for example, the digital artwork), they are separate and distinct. Purchasing a NFT does not mean that you are buying the digital asset associated with the NFT. You should check before bidding what rights to the digital asset you obtain by virtue of buying the NFT (if any). Please see the Conditions of Sale for further information.

Except in the event you are a resident of Mainland China, you may elect to make payment of the purchase price for this lot in the cryptocurrency Ether, Bitcoin or USD Coin. Payment in Ether, Bitcoin or USD Coin must be made to Christie’s via a digital wallet maintained with one of the following: Coinbase Custody Trust; Coinbase, Inc.; Fidelity Digital Assets Services, LLC; Gemini Trust Company, LLC; Gemini Europe Limited; Gemini Europe Services Limited; Paxos Trust Company, LLC; Digivault Limited; Ziglu Limited; or Archax Ltd. Only payments sent from digital wallets maintained at these platforms will be credited towards this lot purchase, and we will not recognise payments from digital wallets hosted at other exchanges or self-hosted wallets. The digital wallet must be registered to you, or, if you registered to bid as a company, then in the name of the company. You agree, upon our request, to provide documentation confirming that the payment was made from a digital wallet registered in your name and maintained at one of the platforms listed above. Partial payments of a lot from multiple digital wallets will not be allowed. The cryptocurrency amount will be calculated by us based on the following:
- For Ether: the USD/ETH hourly quoted CoinDesk Ether Price Index (ETX) at the start time of the auction. The USD/ETH rate will then be converted into GBP/ETH using the GBP/USD exchange rate provided by our bank at the same time as the ETH/USD is quoted; or
- For Bitcoin: the USD/BTC hourly quoted CoinDesk Bitcoin Price Index (XTX) at the start time of the auction. The USD/BTC rate will then be converted into GBP/BTC using the GBP/USD exchange rate provided by our bank at the same time as the BTC/USD is quoted; or
- For USD Coin: the GBP/USD exchange rate provided by our bank at the start time of the auction.

You must pay the purchase price no later than 24 hours after we issue you with an invoice if you elect to pay for this lot in Ether, Bitcoin or USD Coin, or by the end of the seventh calendar day following the auction for all other currencies. The relevant exchange rates will be disclosed in the invoice. For further information and to view our Buyer’s Premium rates, please view the Conditions of Sale via the link below.
Art style:Contemporary art
Category:NFT
Address of auction CHRISTIE'S
8 King Street, St. James's
SW1Y 6QT London
United Kingdom
Preview
13.10.2022 – 13.10.2022
Phone +44 (0)20 7839 9060
Email
4FQ.AYGKAGLUQ@FO3G@
Buyer Premium see on Website
Conditions of purchaseConditions of purchase

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