The launch of the Rare Antiquities Token NFT split market presented an epic failure at Aura Skypool Dubai last month.
What promised to be an incredible public relations stunt fell through when Rare Antiquities Token founder Ryan Howells poured liquid nitrogen on a $40,000 piece of artwork.
Prior to the event, artist Brigitte Nataf’s artwork was commissioned and turned into digital art, before being split into 212 equal NFT fractions.
Each NFT was then used as guest entry to the exclusive launch event at the sought-after venue with the world’s tallest 360° infinity pool suspended 200 meters above Dubai.
Each NFT fraction could then be listed on the Rare Antiquities Token NFT Marketplace joining other collections such as a Banksy fraction on ratbits.com and can be purchased using Ethereum or the platform’s native token, The Rare Antiquities Token.
What is the Rare Antiquities Token?
The Rare Antiquities Token bridges the gap between real-world art and digital art, making art accessible wherever you are in the world through NFTs.
Digital art is then made more accessible to users through splitting allowing anyone to own a piece of Picasso without needing to be a millionaire.
By partnering with the world’s top museums and galleries, The Rare Antiquities Token gives users the opportunity to own a fraction of a famous work of art without paying millions to do so.
In February 2022, the Rare Antiquities Token split a Banksy (I Fought The Law, 2004) into 664 unique fractions and distributed the NFT fractions to the exchange’s 664 token holders.
The largest fractions went to those who invested the most in the token, down to smaller investors who received smaller fractions, and in some cases what would appear to be a few pixels for an NFT.
The Rare Antiquities Token NFT Marketplace was launched in early March 2022 with the first collection comprising 664 fractions of the fractional Banksy (I Fought The Law, 2003).
Users can build their fraction portfolio from a single collection and then trigger a forced redemption for the remaining fraction owners when a single user owns more than 50% of a collection.
Museums, galleries and private collectors
The platform offers a unique incentive for museums, galleries and private collectors to submit their art to be connected to the digital world.
Physical owners take a commission on all initial sales on the ratbits.com marketplace and a commission on secondary sales, while retaining ownership of the physical item.
The Rare Antiquities has already partnered with some of the world’s best museums, galleries and private collectors seeing Picassos, emeralds, diamonds and more being made into digital art and fractional seeing digital art and antiquities worth billions sold on the platform. throughout 2022.
“Is it a failure? – @VitalyTheGoat source @themooncarl
The official launch event for The Rare Antiquities Token NFT Marketplace saw the founder pour liquid nitrogen over the $40,000 physical artwork.
The idea worked in theory, it would shatter into pieces and the only version of the art that would remain would be the digital version for which all participants received an NFT fraction.
Unfortunately for the CEO and founder, the conditions of an outdoor setting 50 stories up in the sky worked against them and the liquid nitrogen effectively failed.
Further embarrassment was somewhat avoided as an “in the pool” shout from the audience turned into a lifeline that enlivened the attending guests with influencers and the biggest names in blockchain to endorse the deed.
The infinity pool was the final destination for the artwork which was greeted with great applause and cheers.
If The Rare Antiquities Token wanted to make a name for themselves, they surely managed to achieve it during their launch event.
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