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Malaysian Artist Red Hong Yi Enters NFT Market With Meme Banknotes Series

by | Jul 1, 2021 | Faces & Happenings | 0 comments

Hot off the heels of her internationally acclaimed art piece for TIME magazine’s climate cover, Malaysian contemporary artist Red Hong Yi has announced her mark on the NFT market with the launch of Meme Banknotes. Dropped on June 27, the series is a part of crypto-exchange company Binance’s inaugural 100 Creators programme to launch the Binance NFT Marketplace.

According to a press release, the artist’s Meme Banknotes are a ‘reflection of how meme assets, cryptocurrencies and NFTs have disrupted industries including traditional banking and art galleries.’ The series features a spoof on paper money with redesigns of several international currencies from the Chinese Yuan and US Dollar to the Malaysian Ringgit and Japanese Yen, with the first inspired by the Chinese Yuan titled “Doge the Moon”, a nod to China being at the forefront of the cryptocurrency landscape, and being the first to use paper money as a form of trade.

Collectors can also look forward to Red Hong Yi’s Memebank Exhibition to be held in Kuala Lumpur later this year, showcasing all the physical Meme Banknotes. More details will be released at a later date.

Following the first Meme Banknote’s drop, other Meme Banknotes in the series will be minted and available on the Binance NFT Marketplace over the next five months. Buyers will also have a chance to own the physical banknotes as well as an accompanying copper plate that has been etched with the respective design.

Known as the “artist who paints without a paintbrush”, Red Hong Yi is a Malaysian-born contemporary artist who creates mixed media installations by reinterpreting everyday materials through the accumulation of objects. 

Source : Studio Red Hong Yi Sdn Bhd

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