John McAfee Helps Tokenize Picasso Painting

The new digital asset will be represented as a single ERC721 token for the digitalized artwork.

“We are to­k­eniz­ing a mas­ter­piece, and mak­ing the paint­ing per­pet­u­ally in­ac­ces­si­ble. Any even­tual re­lease date of the phys­i­cal paint­ing can only be de­cided via a vot­ing process by token hold­ers, after the min­i­mum amount of time has passed well into the fu­ture,” the of­fi­cial blog an­nounce­ment states. 

The project is codenamed “Project Phoenix”. Unlike previous asset tokenizations performed by Maecenas, Project Phoenix will be a fully decentralized exercise, and the resulting unique tokens will be created on the public Ethereum blockchain.

The auction will take place around the year-end Holiday season.

John McAfee commented on the news via twitter:

“I am helping to tokenize rare art objects – a groundbreaking Blockchain application. We will auction a tokenized Picasso at the end of December. This is our second tokenized painting. The first was a resounding success.”