Artmoney
Encyclopedia
Artmoney from BIAM is an international art project established by the Danish artists Lars Kræmmer and Flemming Vincent in 1998. Artmoney items are original works of art the size of big bank notes
(12x18 cm). They are attractive for art collectors, and can also be used as an alternative currency
at shops hosts and artists in Denmark and worldwide.
The project has got a great deal of attention because of its comments on art and social cultural policy.
More than 1000 artists from 40 countries participate. More than $80,000,000 of art money has been issued.
Artmoney has been featured at several national and international galleries and events.
(finanstilsynet) decided in 2005 that the occurrence of "bank" and "money" in the name BIAM suggested financial activity, for which the required permissions were lacking.
An appeal failed, but Kræmmer continued his Artmoney activities. In March 2008 he was told that he faces up to four months in jail if he continues using the "BIAM" name.
Banknote
A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. In addition to coins, banknotes make up the cash or bearer forms of all modern fiat money...
(12x18 cm). They are attractive for art collectors, and can also be used as an alternative currency
Alternative currency
Alternative currency is a term that refers to any currency used as an alternative to the dominant national or multinational currency systems...
at shops hosts and artists in Denmark and worldwide.
The project has got a great deal of attention because of its comments on art and social cultural policy.
More than 1000 artists from 40 countries participate. More than $80,000,000 of art money has been issued.
Artmoney has been featured at several national and international galleries and events.
Legal problems
The Danish Financial Supervisory AuthorityFinancial Supervisory Authority (Denmark)
The Danish Financial Supervisory Authority is the financial regulatory authority of the Danish government responsible for the regulation of financial markets in Denmark....
(finanstilsynet) decided in 2005 that the occurrence of "bank" and "money" in the name BIAM suggested financial activity, for which the required permissions were lacking.
An appeal failed, but Kræmmer continued his Artmoney activities. In March 2008 he was told that he faces up to four months in jail if he continues using the "BIAM" name.