Artist Auctioning NFT Trolling Satoshi Statue for Charity

by AryanArtnews
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A Hungarian artist is auctioning a non-fungible token (NFT) created featuring a statue of Satoshi Nakamoto in Budapest, Hungary.

Commenting on Bitcoin’s high electricity bill, artist Peter Wyler placed an oversized invoice of $ 18,894,650,000 around the statue’s neck. Despite his enthusiasm for cryptocurrencies, Wyler said he felt the need to raise awareness about the amount of energy consumed by Bitcoin mining.

“We need to see how much wealth is generated by cryptocurrencies and how much it will cost,” Wyler said in a Facebook post. He added that changes are needed and will come soon “with an energy-friendly and cost-effective cryptographic solution.” It is because of these environmental issues that he advocated the use of Tezos to build NFTs.

Reflecting the rise in energy prices associated with the winter, Wyler said he would donate NFT revenues to homeless shelters in Budapest. “I thought my guerrilla actions in the Satoshi sculpture in Budapest could also do some good things,” Wyler said.

Satoshi statue

In September, the world’s first statue of Satoshi Nakamoto, the inventor of Bitcoin, was unveiled at Graphisoft Park in Budapest, Hungary. Symbolically, the face of the statue features a reflective surface, so onlookers can see themselves as Nakamoto.

BeInCrypto spoke with state director András Györfi after the statue was first unveiled in the summer. Györfi said he created the statue after being inspired by the importance of blockchain technology and the artistic quality of NFTs. His ambition was to make the statue largely known around the world, he added.

It is this perspective that gives Gyorfi a subtle perspective on the social commentary on his work. “I’m glad to see that the statue has its own life. [that] People think of it when they think of Satoshi, but trolling someone’s work is never a good thing, “he said. “But Bitcoin really has an energy consumption problem. [and] The mining community needs to understand this. “

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