Xeo Chu, a 14-year-old Vietnamese painter, was trending a few hours ago after selling his most recent work for $22899. The work, titled “The Lucky Apricot Blossoms,” was auctioned off for $5000 and then increased in price the next day. Pho Van An, also known as Xeo Chu in the art world, realized his dream of becoming famous and selling his work for such a high price.
The Binance platform was used in this auction, which was the first in the use of cryptocurrencies in Vietnamese art. Chu is pleased to have sold his work, but he is also grateful to everyone who has helped him. The boy-painter announced on Facebook that he was donating the money to charity and selling his painting on his birthday.
Cryptocurrencies are being used in Vietnam and other countries.
Cryptocurrencies, particularly non-fungible tokens, have catapulted the art world to new heights. Many Vietnamese artists, such as Xeo Chu, have displayed their works, auctioned them off, and earned a lot of money from collectors looking for a one-of-a-kind piece. Following the completion of several NFT art exhibitions in Europe, this trend has become common among crypto enthusiasts.
In 2018, the 14-year-old Vietnamese young man presented his work at the Georges Berges Museum of Art in New York, New York. Georges Berges, the museum’s owner, compares Xeo Chu to a young Jackson Pollock, an abstract works artist who lived in the 1940s and 1950s.
Chu had the honor of selling one of his works for $150000 some time ago, though it is unknown if he used Binance for the auction. The young man is well-known for his charitable work in Vietnam and other Asian countries.
Binance, a cryptocurrency exchange, has also powered art auctions in Vietnam, North America, and Europe. This platform is well-known for its NFT trading because it is extremely safe and stable, with fewer regulations than other exchanges.
In Vietnam, Binance promotes NFT auctions and cryptocurrency trading.
Binance is unquestionably a major player in cryptocurrency trading in a number of Asian countries, including Vietnam. This crypto exchange is available in a number of countries and allows crypto investments using tokens such as Bitcoin.
The platform has also been used in NFT art exhibitions, such as the ADAHA exhibition, which debuted in late July. This gallery featured eight contemporary art enthusiasts, including MAOHAONAN, John Gerrard, Timur Si-Qin, and Tingwei Li, among others.
On another occasion, Binance served Vietnamese artists such as Tu Na and Phong Luong, who compete with Xeo Chu. The platform’s NFT exposure is expected to grow by the end of 2021.