9 Okt 2014 Jahr - 'Regular Division' - (MGAAAAAAAAAAA)

Beschreibung:

Within a prior protocol called Namecoin, Monegraphs (Monetized Graphics) were among the first blockchain collectibles with artwork and the intention of digital ownership. These assets became very popular when Sotheby's auctioned off the first piece in Monegraphs by Kevin McCoy, 'Quantum', for $1.4 million dollars. While eighteen of these tokens were created using Namecoin, one of them representing video artwork by Joe Hamilton was minted by Kevin McCoy using Counterparty.

The backstory started in the fall of 2014 where Kevin states he was 'at the New Museum trying to turn the original Monegraph idea into a functioning platform. It was going slow, but I was constantly talking to people about the idea of art and blockchains. A friend at the museum was organizing a show that included Joe's work and asked if I could make a monegraph for it.'

This asset, named MGAAAAAAAAAAA, included a Vimeo file link, a sha256 hash, a Twitter link, ownership of the artwork and a JSON as the description. The video file included with this asset is an avant-garde video piece titled 'Regular Division' by Joe Hamilton.

This asset was the first tokenized Monegraph artwork on Counterparty after Kevin McCoy minted 'MONEGRAPH' with the intention to create blockchain records for real world art. Though the MONEGRAPH token on Counterparty did not see any usage after its minting and simply stated 'Tokens for use at monegraph.com'. Kevin stated 'The idea with [MONEGRAPH] was that it could be a way to access artworks on the monegraph website -- maybe something like a points system. Obviously it didn't get past the initial issuance! But its a very early artist coin in any case.'

Kevin mentions that at this time he was 'already transitioning away from the original Namecoin-based tech after learning about xcp that summer. For this token I told Joe to send me a URL of a media file and to make a tweet with that URL as a way to attribute the art. I manually made the asset's json file using the info he sent me, based on the metadata format from the earlier work. I've forgotten why I chose the asset name or json file name that I did.'

Kevin goes on to explain the art show that Joe's piece was shown went well but 'the token ended up not being more than an experiment. No one knew what to do with it.' Kevin then reminded me 'Remember there were no examples to follow, at least that I knew of.'

Kevin went on to mention 'I was making a blockchain record that contained what I thought would work for provenance, verification and ownership of the art. Turned out my approach was over-engineered compared to what other people did later.'

It is important to note Kevin's thoughts on Regular Division as he continued on: 'It's clear there were earlier assets, but Joe's token could really be the first explicitly fine art token. Of course all these kinds of claims come down to definitions, so it's not really that useful in the end. But monegraph from day 1 was about a blockchain record that meant uniqueness and ownership of a piece of digital art, be it with Namecoin, Counterparty, Bitcoin or Ethereum.'

Kevin would also go on to create a second Counterparty Monegraph token called 'A1028163271339900500' with video art attached titled 'Silicon Flats' produced by him and his wife. This second Counterparty Monegraph token has its own entry on the timeline and is explained more in-depth.

To learn more about Regular Division and Joe Hamilton's backstory regarding Monegraphs and his other video work, check out his interview on The Adam McBride Show, his Seven on Seven 2014 presentation that went over the theory, data storage and purpose of the Monegraph project.

Even more links and info are included below like the full collection of Monegraph tokens, an Axios article explaining Quantum, an article by Amy Castor, and the original 'Regular Division' video piece.

Issuer: Kevin McCoy (for Joe Hamilton)

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