Back in 2015, Meyohas launched Bitchcoin (2015), a crypto-currency backed by her art. The investor buying a Bitchcoin invests in their perception of Meyohas’s worth as an artist. Mahoyas was ahead of her time and her crypto-currency was minted before the launch of the now global Ethereum, which also facilitates trade in assets, in the form of non-fungible tokens, and just like the Bitchcoins, these are minted on the blockchain.
The physical art currently backing Meyohas’ cryptocurrency is a series of photographs of unique petals from her Cloud Of Petals (2017) project. When she first started, each Bitchcoin sold for $100 and was worth 25 square inches of any one of Meyohas’ current or future photographic prints. However, once Ethereum was launched, she was able to auction her Bitchcoins, so now the value fluctuates depending on the market.
Obviously, the title Meyohas used for her crypto-currency is a reference to the Bitcoin crypto-currency. Bitcoin’s value depends on supply and demand because it is not backed by gold, silver or any government. So not only was the Bitchcoin (2015) project a seminal piece of conceptual art that asked questions about value, it was also the first cryptocurrency to be backed by an asset.
Bitchcoin (2015) was recently part of the Proof of Art NFT show at the Francisco Carolinum Museum in Linz, Austria. It proved to be so popular that the exhibition was extended from 15 September to 12 October 2021. The auction house, Phillips, recently auctioned off bundles of Bitchcoins, recognising the work for its pioneering contribution to digital art. You can currently buy Bitchcoins on Opensea.