May 19, 2021
2019 - Advanced Technology (Advanced Technology)
Matt Kane
Matt Kane initiated the project Right Place & Right Time – Bitcoin Volatility Art in 2019. Estimated to run for the next 10 years, the series of NFT artworks speaks to the volatility of the bitcoin market and the political, social, and financial events that led to it. Every day, a new composition is generated autonomously using a data feed of Bitcoin’s last 24 hours of price action. Made of 24 layers synchronized with Bitcoin’s price volatility from the previous 24 hours, the artwork’s visual aspects indicate the extent to which the market varied from the day or even hour before: smaller, more spread-out layers indicate market collapse while larger, overlapping layers represent recovery. The artist doesn’t turn all autonomously-generated compositions into NFT artworks. Rather responds to the global events and their visual effects. Max 210 artworks will be minted overall; about 42 have been minted so far. For example, May 19, 2021 reflects a specific event that took place on that date: Tesla announced that it would no longer accept bitcoin for vehicle purchases given bitcoin’s impact on the environment and, as a result, the bitcoin price massively plunged (hence why the layers are so spread out). Right Place & Right Time – Bitcoin Volatility Art acts as snapshots of different key moments of bitcoin history and speaks to larger conversations about economy, markets, capitalism, politics, and power.
Trained as a visual artist, Matt Kane left the art world for a decade to work as a web developer in the United States’s Pacific Northwest. He taught himself programming, gained life experience, and Kane turned into a painter of code from, previously, a painter of oils.
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