10 Nov 2021
MEMEBANK LAUNCH FULL
We launched a bank! A fictional bank, that is! Memebank is an art project that aims to spoof banks, central banks and their centralised control of fiat currency supplies. The advent of the blockchain, cryptocurrencies and NFTs have prompted the world to consider the roles centralised systems have in our collective future. Here, at the frontier of art, culture and technology, newly formed digital communities wrestle at the establishment to regain control of individual authority.
Four months ago, Memebank released its first parody banknote inspired by the Chinese Yuan, titled, “Doge to the Moon”. Today, Memebank will be launching five new parody banknotes inspired by the Japanese Yen, British Sterling Pound, Singapore Dollar, US Dollar and Malaysian Ringgit. These five banknotes are all infused with meme characters and will be the final NFT artworks that will complete the Memebank series.
In similar fashion to the very first ancient banknotes from China, we made printing copper plates of our own banknote designs. Memebank highlights the concern of continued printing of fiat money by central banks, which economists warn may lead to inflation. The owners of our Memebank copper plates will become the new central banks. They will own the copper plate, and be sent only one full canvas print. After that, they will control the printing volume of each banknote, determining the value of each currency.
The reverse image of each banknote is acid etched in pure copper sheets spanning 62 inches (1575mm) wide and 29 ½ inches (750mm) tall. Every copper plate is accompanied by a 1/1 edition canvas print and contractually bonded to an NFT token.
Owners of the Memebank NFTs will receive the following:
1. Master Copper Plate - 62 x 29 ½" (1575 x 750mm)
2. 1/1 Edition Print on Cotton Canvas
3. NFT Token Certifying Authenticity and Ownership
Memebank NFTs Now Open for Bidding
#1 Satoshi Says "NOPE"
#2 Awkward Monkey Buys The Dip
#3 The Praying Otter
#4 Diamond Hands
I am really proud of what we have accomplished for this collection. From the sheer technical feat of etching the massive copper plates to embracing new technologies in how art is sold and owned, we have kept an open mind to doing things that have never been done before. The themes we explored with Memebank will remain part of the studio's future endeavours and continue to push us in exciting new directions. This is only the beginning.
Red Hong Yi
Founder of Memebank
The End of a New Beginning
#5 Where Lambo?