You perhaps have heard about the behavioral artistics news related to Banksy’s self-destruction art “Girl With Balloon” in Sotheby’s London auction. After the paint was hammered for 1 million pound sterlings, it was shredded automatically by a remote control mechanism inserted by the artist Banksy himself. The price was as three times as that painting was expected to achieve and also a new record for Banksy. Later, Banksy posted the painting’s self-destruction video on his Instagram account quoted Picasso: “The urge to destroy is also a creative urge”. From this piece of news, we are able to take a glimpse into the wild and creative minds of artists.
Tokenizing an asset in real world
Asset tokenization is built up under the principle of blockchain technology. It implies the process of changing the right of an asset to a kind of digital tokens.
Tangible assets can certainly be tokenized but what makes asset tokenization interesting is that even intangible assets or revenue generated from the tangible assets could be fractionalized, meaning that you hold a fraction of an asset.