Press Release: Thursday, March 17, 2022, 18:30 CAT | Source: Everything PR
In its continued effort to pioneer alternative means to invest, global asset management company Invictus Capital, through its Invictus NFT Lab, has created a first-of-its-kind Out of Africa NFT art collection. The collection consists of 118 NFTs backed by physical artworks from more than 40 of Southern Africa’s most prominent contemporary artists. By leveraging the best features of both traditional fine art, and blockchain technology, owners can opt to take delivery of the physical artworks. These are held in secure custody and include paintings, sculptures, photographs, and more.
“In addition to a series of auctions that will be held on OpenSea, we have created a set of 1,770 Poster NFTs (P-NFTs) available through a free-to-enter lottery on the Ethereum blockchain,” says Jason Welz, Senior Crypto Fund Analyst at Invictus Capital.
The company says it wants to create a more accessible entry point into the collection for those wanting to dip their toes into the NFT world.
Adds Welz, “these posters will have fundamental value through an interesting experiment that we are running. Ten percent of all revenue generated by the project, including ongoing royalty revenues on resales, will be used periodically to purchase and destroy posters from the open market, making them scarce assets with intrinsic value outside of their collectible value.”
Anyone who has a freely available Ethereum wallet can enter the lottery.
“We encourage people to explore the Out of Africa Collection, and see the caliber of artist, and artwork that is available both for the auctions, and free-to-enter lottery,” says Welz.
The Out of Africa Collection and details of both the lottery and auctions are available on the Invictus NFT Lab website: https://invictusnftlab.com
Entries for the lottery are open until 18 March 2022 and winners will be able to claim their P-NFTs from 21 March 2022. Winners will have a two-week period to process these claims.
Thereafter auctions will be held on OpenSea.io for the Original NFTs (O-NFTs).
“Through this collection, we want to accelerate the transition of NFTs to the mainstream by appealing to both the traditional art collector, the modern NFT collector, and anybody in between,” concludes Welz.
This article is a Press Release received from Everything PR. Global Crypto did not receive any form of compensation for its publication, and as this material is deemed newsworthy for the Southern African blockchain industry, it was thus published accordingly.