VoV – Value of Values : Transactional Art on the Blockchain
by Maurice Benayoun and Tobias Klein
Value of Values (VoV) is a new cryptocurrency based on the Value of Human Values. Dozens of abstract concepts that can be associated to human values are proposed to exhibition visitors to be shaped by thinking. Each iteration is numbered – Freedom 1, Freedom 2… Freedom n- . Each numbered item becomes a token corresponding to a VoV value convertible into cryptos like Ethereum, Bitcoins… The one who contributes to shape the value becomes the owner of the token. The owner of the token is also the owner of the 3D model, the “idea” of the shape. The Owner can sell or barter the token, or even freely use the shape to produce artifacts, artworks or goods.
If the owner trades PEACE 404 + LOVE 2 for MONEY88 he or she defines the relative value of values. With thousands of similar transactions, we can monitor in real-time the relative Value of Human Values. If the median price of MONEY (the median price of all minted MONEY tokens) is 3 ETH or 3000 USD and the median price of LOVE is 240 we get a clear idea of the Value of Values.
VoV designs the shape of values VoV defines the value of Values. The transaction is the only way to know the objective value of a given value.
In the current state of the project, we have reached the next level in the Brain Factory project: creating VoV, Values of Values, a crypto currency made of shaped human values. All at once, the exhibition spectator has become artist, producer, art dealer, and collector. The observation of the trading process produces a real-time monitoring of Human Values in their transactional milieu. VoV is at the same time a real currency, a critical metaphor of the art production narrative and a dynamic reflection on its founding ontology. The result is a Global Art Project close to what MoBen calls “Critical Fusion”: the speculative and convertible merging of Fiction and Reality.
Produced with the support of City University of Hong, School of Creative Media, ACIM Fellowship.