Innovative Mattereum technologies such as Real World Asset NFTs (rwaNFTs) and the Mattereum Asset Passport are powering record sales of high-value cultural assets, including the iconic Mood Stone Ring and artwork by Andy Warhol.
An original 14k gold Mood Stone Ring , one of the biggest fashion trends of the 1970s and one of the most sought-after pop cultural artefacts of all time, was sold by creator Josh Reynolds for a record $65,000 in December 2021 as a rwaNFT. This success has highlighted the way NFTs have given new life to time-honoured cultural goods, with revived interest in the mood ring as a one-of-a-kind collectible prompting the release of a new, limited edition performance-enhanced EthereuMood Ring NFT.
RwaNFTs are digital tokens that denote ownership of physical goods and are backed by a Mattereum Asset Passport which guarantees the underlying physical asset through a system of warranties. RwaNFTs are paired with Mattereum’s smart contracts, creating a ‘Trustable NFT’ framework that enables legally enforceable warranties, insurance and true digital and physical ownership with confidence.
Another prized asset launched by Mattereum is a colour screenprint rwaNFT of Alexander the Great produced and signed by legendary pop art icon Andy Warhol with certifier warranties up to the value of $200,000. The original work connected to the rwaNFT was commissioned in 1982 and exhibited at the National Gallery in Greece in the summer of 1993.
As with all Mattereum Asset Passports (MAPs), the MAP created specifically for the Warhol rwaNFT demonstrates a clear and transparent line of ownership for the original print, along with publication records tied to the piece’s museum exhibition. This increases confidence among buyers who can track and verify its provenance and authenticity, ultimately boosting its value.
Vinay Gupta, Founder and CEO of Mattereum, said: “Mattereum’s proven model for selling physical goods using blockchain NFT technology makes it easy for established artists and brands to branch out into this new digital world. By programming trust and transparency directly into transactions, Mattereum is pioneering the safest method of purchasing physical property using the blockchain. This will not only revolutionise the multi-billion dollar art and collectibles trade, but unlock trillions in capital across industries such as property, land, and commodities of all kinds. This extremely transparent paradigm for trade paves the way for the more sustainable, equitable global economy of the future.”
“Mattereum’s proven model for selling physical goods using blockchain NFT technology makes it easy for established artists and brands to branch out into this new digital world.”