A Chicago-based artist has launched a non-fungible token (NFT) of a mural of Kanye West he created in the West Loop. Minted on the Avalanche blockchain (AVAX), the NFT will be available on Monday the 12th, 2021 on Yeah Probably Nothing. The winner of the auction will be connected to the mural by a QR code. The coordinates are 41°53’07.9”N 87°39’04.9”W, and the mural was created by Jason M Peterson, with typography by Tubzilla.
On Monday, October 11, at 1pm ET the live auction for the NFT begins at YeahProbablyNothing.com. Digital art collectors can place their bids throughout the duration of the auction; the bidding will close on Friday, October 22 at 1pm ET. Yeah Probably Nothing was developed by Peterson, Kalao, and Ava Labs. Following this auction of the Kanye West Mural, Peterson will also launch a set of NFT packs featuring some of his best photographs from his illustrious career.
NFTs are unique, one-of-a-kind assets whose ownership and authenticity can be independently verified on the blockchain hosting that asset. Prior to NFTs, there was no way to create and freely trade collectibles or art without the risk of counterfeits or reliably compensating artists for their creations in perpetuity.
The Mural NFT is a live mural of a photograph taken by Peterson featuring global hip-hop superstar Kayne West and is located in Chicago, Illinois on North Sangamon Street & West Lake Street. The typography featured on the mural was created by Tubzilla. The owner of the NFT will be forever linked to the NFT via a QR code located on the physical mural. Any visitor will be able to identify the owner at any time, with their authenticity and record verifiable by a smart contract on the Avalanche blockchain. If the ownership changes hands, the information tied to the QR code will update.
The owner of the Yeah Probably Nothing Mural NFT has the unique opportunity to be forever linked to this iconic piece of artwork.
By launching on Avalanche, the NFT will be secured by a highly decentralized, environmentally friendly blockchain platform with network transaction fees much lower than the high prices NFT purchasers have become accustomed to paying.
“Contemporary artists are constantly seeking new ways to challenge the status quo of art and its medium. NFTs brought in an innovative, new medium to the art world, allowing artists to fully control the distribution of their art as well as experiment with new ideas. I wanted to create a digital and physical experience that paid homage to the City of Chicago by creating a mural of Kanye West alongside other Chicago artists.” — Jason M Peterson
Here’s how to place a bid on the auction:
Here’s how to claim the NFT:
NFTs have skyrocketed in popularity and public interest this year. In the first half of 2021, NFT sales surpassed $2.5 billion, a massive increase over the $14M in sales over the first half of 2020, according to DappRadar. Major, global organizations have embraced NFTs, including Nike, the NBA, the NFL, Topps, and Warner Music Group.
Persons interested in the Yeah Probably Nothing NFT series should visit https://YeahProbablyNothing.com.