Post
Topic
Board Announcements (Altcoins)
Re: ⚡MARQUISE $MUSEUM: 2017 Certified Art Vault
by
MarquiseMuseum
on 25/11/2023, 02:50:18 UTC
You received a bid of $1M for 49% of the collection and you didn't take it?  Shocked

The ERC20 tokens being from 2017 is a good start, and it appears the images are also from around that time, but last I looked at it I didn't see anything that necessarily connected the art with the tokens on the blockchain or elsewhere.

What would help is links to something that proves the "off-chain provenance" of the artwork being associated with the tokens.

Royal library of Sweden retains a physical copy with all images in print since 2018:

https://libris.kb.se/bib/21731534

ISBN is a numeric identifier for published media and is unique to every article.

9789198369403 is the identifier for Pimp Fashion cryptobook which is referenced both by ISBN and title in the Bitcointalk screenshots which are unedited and also still exists in my early post history.

Page 3:
https://docdro.id/fbY6USO

Here is the unedited hyperlink to the book containing all artworks although not all of these originals were included in the NFT migration:
https://bitcointalk.org/index.php?topic=2966730.msg30480040#msg30480040

These are the same images that are today integrated with the vaults on Eth, XCP and Waves:
https://www.marquisemuseum.com/

I also have an email from 2018 containing a full Binance listing application with alot of technical token and art association. It can be forwarded to prospective buyers.

There are several reasons that this was not fully integrated in 2017 compared to Cryptopunks:

1. JPEGs did not hold value and it would not make business sense to try and sell digital versions of this art at that time.

2. A tokenized ecosystem with great value was predicted to emerge some time in the future presumed to be linked with physical objects equivalent to immutable blockchain paper receipts for storebought items. This was explained in a 2018 patent application. The value derivate was presumed to come from authentication methods which was accurately predicted as the main value component of NFTs today.

3. I did not predict JPEGs to eclipse physical as a main value component and for this reason the NFT migration of this ABT collection took place during the NFT boom of 2021. Before that the association with the tokens and art were through swapping in exchange for physical delivery of the cryptobook or framed art from the book.

4. Images were too large to store onchain and IPFS and other NFT infrastructure didn't exist in 2017.

5. As a result of this inverted development the token vault predated all other art vaults (B20/Punkbasic/APE etc.) by a measure of years and as such is the originator for blockchain art vaults including NFT vaults. It appears from a marketability viewpoint that this fungible innovation as a standalone does not hold alot of inherent value compared to hyperlinked NFTs from 2017. In combination with offchain artwork provenance it should be able to compete and also classify in the same value category as Vintage NFTs. As such I predict that the migrated 2021/22 Rarible NFTs (when properly curated institutionally) will sell for equal or higher unit price as Alien punks ($10m+).

The functional purpose of these vaults remain but the main value component today is its symbolic rather than practical value as a first to market system in a category of prized vintage crypto art.

The original vault design also contained a manual burn function with an expected lifecycle of 66 years. i cycled multiple iterations of this vault design in an attempt to commercialize it over the years but as the vintage metrics increased in value I have opted to retain the original SPV design although practically I don't expect anyone to utilize the swap function as this is really evolving beyond public relevance from a collectors and store of value viewpoint.

The practical utilization and growth factor of the vault will come from DeFi features and aftermarket royalties when the NFTs are sold. It will behave similar to a stock such if warhol or picasso had underlying (decentralized) public stocks for their art.