The Last Dream, a mixed media artwork by Haze, is being sold as an NFT.
The initiative blends AI and human creativity to create colorful pieces of art. It’s just available in a new medium: Technology has given age-old paintings a new exhibition platform. (NFTs are non-fungible tokens that digitally represent any asset.)
“The artworks are a declaration of life in the guise of art, both virtual and reality dispersed,” said Haze, who is renowned in his native Malaysia as a speed painter. “Customers can purchase “one-of-a-kind piece of artwork that I developed using AI (artificial intelligence) technology and procedural images in 2D and 3D.”
Every time an artwork is released, a 10/10 NFT will be available for purchase in Opensea, the largest NFT marketplace. Later, a 1/1 NFT will be traditionally painted, and the digitally scanned artwork will be sold at MakersPlace.
Holders of any NFT purchased from “The Last Dream” will receive voting and management rights to the project’s space in the metaverse. Plus, 25 percent of revenues will be transferred to this fund, giving buyers access to the virtual realm. They also get voting and management rights to the space.
Visual, musical and performing arts exhibits are currently planned for the venue. NFT holders will receive rewards in the metaverse in the form of fungible and non-fungible tokens.
“The Last Dream” is a project that helps organizations that work to prevent and heal the effects of child abuse. As a result, 5 percent of sales will be donated to a child-abuse charity, with the project switching charities on a regular basis.
The first batch of 10/10 tokens will be sold for 0.07 ETH, a cryptocurrency second only to bitcoin in popularity. Pricing increases if sales milestones are reached. The lower price is to reward early funders for their support of Haze’s project.
The next batch will be sold for 0.08 ETH after attaining a sale price of 3 ETH, and the milestone-based pricing will resume from there. The tokens will benefit from a thriving buy-sell economy, and holders will be able to schedule their sales accordingly.
The continuing project of “The Last Dream” is regulated via the Ethereum blockchain’s ERC 721A Smart Contract. This allows for low-cost batch minting. The contract will also control the milestone-based pricing of the NFTs.
Haze already claims a social-media audience of 130,000, per his “Dream” site.
Purchased NFTS can be used to unlock management and ownership passes in the future metaverse. Holders will also have first priority for project-related materials, tokens and assets.
Produced in association with MetaNews.
