Rare NFT fail at the launch of rare antiquities token NFT fractionalization marketplace

May 6, 2022

By Sharan Kaur Phillora

The launch of the Rare Antiquities Token NFT fractionalization marketplace featured an epic fail at Aura Skypool Dubai last month when the founder of the Rare Antiquities Token Ryan Howells poured liquid nitrogen on a piece of art worth $40,000.

Here’s what we know:

Before the launch, the NFT art created by artist Brigitte Nataf was commissioned and turned into digital art, before being fractionalized into 212 equal NFT fractions.

Each NFT was used as the guest entry to the exclusive launch event at the sought-after venue with the world’s highest 360° infinity pool suspended 200 metres over Dubai.

The official launch event of The Rare Antiquities Token NFT Marketplace saw the founder pouring liquid nitrogen over the physical piece of art valued at $40,000. The idea worked in theory, it would break to pieces and the only version of the art to remain would be the digital version that all attendees had received an NFT fraction for.

Unfortunately, the conditions of an outdoor setting 50 floors in the sky worked against them and the liquid nitrogen did indeed fail.

The Rare Antiquities Token NFT Marketplace launched at the start of March 2022 with the first collection featuring 664 fractions from the fractionalized Banksy (I Fought The Law, 2003). Users can build up their portfolio of fractions from a single collection and then trigger a forced buyout for remaining fraction owners when a single user owns over 50% of a collection.

Image source: Rare Antiquities Token

 


About the author

Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.

 

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