Why street art in Miami is being tokenized on Bitcoin

Guys, let’s use crypto to save the local arts centre! It sounds like the plot of a drama for young adults but, nope, it’s reality: a historic art and music venue in Miami is using blockchain to keep the lights on and to raise funds for local graffiti artists.

Graffiti artists come from all over the world to stay at Esquina de Abuela, an arts center in Alapatta, one of Miami’s hottest neighborhoods for street art. Instead of paying money to stay there, some artists paint a mural at the location. But Esquina de Abeula’s running out of money—and wall space—so it needs a new way to raise cash.

Art Rozenbaum, who runs a mechanical engineering consultancy firm, came up with the idea to tokenize a mural painted on the center, called “Precolumbian,” by Ecuadorian street artist Apitatán. Proceeds are to be split…