No one can define a fixed structure, concept, or idea when it comes to art. When it comes to perceptions, no one can gauge how the market or the people will react to new products or images.
The rage about non-fungible tokens or NFTs has faced a similar situation. While many celebrities, collectors, and investors have jumped on the NFT bandwagon, not everyone is pleased with the concept of blockchain-backed-up data units.
Many users have called out celebrities on their NFT purchases, as the digitized tokens come at the cost of the environment and tons of money. Actors and influencers like Brie Larson ( Captain Marvel), Kim Kardashian, Troy Baker, and many more have faced severe backlash as their followers called them out for their ‘useless spending’ on NFTs in their social media platforms.
But most probably, no one has ever held a protest quite like this conceptual artist, who went ahead and blew a Lamborghini up!
Protest against Crypto’s investor getting ‘quick money’
An artist, who claims (and seems) to be different from traditional artists, decided to protest the ‘get rick quick’ culture prevalent among Crytpo investors earlier this month. He goes by the stage name Shl0ms and is famous for literally blowing up ‘artworks.’
But what makes this protest different from others is the outcome.
Shl0ms blew up a Lamborghini Huracán, made video footage of the explosion, and is now set to sell the pieces of the car as NFTs. Way to go, Shl0ms, the protest just lost meaning- or did it?
Step-by-step timeline of how everything took place.
- In September 2021, Shl0ms first tweeted the notion of ‘physically fractionalising’ a Lamborghini, with followers opting to wreck the automobile in a haphazard manner.
- The artist paid for the most of the project out of their own pocket, with the help of one additional organisation. The intention was to blow up the Lamborghini car rather than incinerate it, ensuring that enough was left to sell.
- However, blowing up an automobile without completely destroying it is a difficult undertaking. The team had spent the previous two weeks practising the explosions, which included blowing up another car.
- On February 2, the Lamborghini was finally exploded. Following the explosion, the team collected the debris and documented it. In 4K resolution, they captured a revolving movie of each piece.
- On February 18, the video was posted to Twitter, and NFT sales are set for February 25, 2022.
Insights on the project.
The name of the NFT collection is $CAR. The drop will have 999 items, but 111 of the pieces will be reserved for the team members and investors of the project. It means that only 888 pieces of the blown-up luxury car will be available for sale.
It should also be noted that the NFTs are limited to one piece per wallet. The pieces will be sold to the highest bidder.
Even if the price per NFT is kept at 0.5-1 ETH, the returns would be massive. We are looking at 1 million USD returns over a 250K USD investment involved in the entire project.
$CAR comes after the artist’s first foray into NFT version of physical art known as ‘$FNTN’, which was launched in 2021. The collection also consisted a methodologically destroyed rendition of French painter Duchamp’s fountain.
The artist raised $500,000 with their $FNTN collection of NFTs. One of their NFTs had just sold for $80,000, and several others, such as the captcha, had recently sold for over $9000.