Out of Africa Collection: NFT Lab combines the best of visual arts and technology
Invictus NFT Lab – powered by Invictus Cash, digital asset pioneer, managing over $ 200 million in investor assets – is proud to introduce its zero token project The first Intrusive (NFT), which brings the best of art and blockchain Technology combined. The Out of Africa Collection is comprised of 100 unique NFTs on the Ethereum blockchain powered by (and redeemable for) physical artwork from the real world from a variety of art media by several of South Africa’s leading contemporary visual artists. The collection, which marks the first entry of most of the participating artists into the NFT space, will be auctioned in February 2022. Read on to learn about the world’s first project, and learn how to get a piece of NFT and art history.
NFT Lab and Great Art are about to collide
The global pandemic is a challenging time for creatives around the world. Visual artists are particularly hard hit by gallery closings, travel restrictions and protests. The exhibition is canceled. Many digital artists have used the pandemic as an opportunity to interact more with the rapidly growing community of NFT collectors. Many of these artists were grateful for the opportunity the NFT room offered to revolutionize the visual arts business model – a known benefit to everyone in the music industry. For collectors, this means saving significant costs for middlemen, who often represent an inedible investment in art. For artists, this means reaching a truly global audience and creating a royalty-based blockchain-based revenue model to ensure that artists can share in their creative value later on.
Not really, talented artists creating art in the physical field failed to take advantage of the ongoing NFT boom, with a large gap between the self-proclaimed artists and people who refer to themselves as NFT artists. At the same time, the NFT and the art collection community barely overlap – the traditional art scene struggles to grasp the value proposition of owning an accessible digital file. In our view, both differences will resolve over time, with NFTs gradually making their way into the mainstream. We’ve already seen art giants Christie’s and Sotheby’s signal that NFT art is here to stay – albeit with a great deal of concern.
Use the power of the blockchain
NFT Labs’ first Out of Africa Collection – a curated, historical collection of 100 physical works of art by 50 of South Africa’s best-known contemporary artists – takes advantage of both traditional art and blockchain technology and enables these artists to partake in the Advantages of the NFT world. In this way, we aim to accelerate the transition from NFT to the mainstream by engaging both traditional art collectors and modern NFT collectors and everyone in between.
The project involves auctioning NFT representations of these physical works of art, which act as proof of ownership of the original work of art and allow the owner to claim the goods if they so choose. These elegant NFT avatars often contain animations or other augmented reality functions made possible by digitization. The auctions are powered by the OpenSea NFT marketplace, the world’s largest and most trusted NFT resale platform.
The prerequisite for participating in the auction is possession of one of the 2,500 NFT tickets or posters that can be purchased in advance of the auctions or won via giveaways. These NFT tickets will also be a digital representation of the physical artwork in the collection, but they have no delivery rights and provide an easily accessible entry point for the collection. More for those who just want to immerse themselves in the NFT world. There will be a secondary market on OpenSea where owners can buy and sell these NFTs. Interestingly, through an interesting experiment, these posters will have a fundamental value: 10% of the project’s total sales, including ongoing royalty income from resale, will be used to regularly buy and destroy posters on the open market – which makes them a scarcity System. Value beyond their collector’s value.
A wide range of African voices
No venture in the art world would be possible without artistic flair and talent. To this end, the NFT Lab has secured the participation of a number of prominent contemporary South African artists who bring together a wide variety of voices. From Robert Slingsby’s use of ancient geometry to celebrate his African heritage, to the poetic brushstrokes of Matthew Hindley, to the fantastic sculptures by Janko de Beer (with the King of Morocco a notable fan), bless Ngobeni’s inspiring redemption story and courageous sociopolitical Commentary on art, or Olivié Keck’s pop-cultural mood, the power of regional diversity – not only in culture, but also in artistic style – shines.
The project is slated to get started in earnest in January, starting with the distribution of NFT posters worth twice the price of auction tickets. Highly anticipated auctions for the collection’s original NFTs will take place in February.
Sign up for the newsletter so as not to miss any news, as we will announce the participating artists and works of art over the course of the next month and specific dates for each project phase. If you want to know more about this unique project, read the technical details in the litepaper. You can also follow the progress of the project by following us on Twitter .