They say that art has a provocative component, and it certainly is by blowing up a Lamborghini Huracán with dynamite. It has been the purpose of a group of artists led by Shl0ms, to turn a car into NFTs and cryptocurrencies.
The header image is the last in which this 2015 Lamborghini Huracán was recognizable in one piece. Now it’s turned into a heap of pieces hardly usable for another Hurricane. almost literally, the car ended up in crumbs. And all with a purportedly artistic purpose.
The leader behind $CAR project is a certain Shl0ms, who has already made more than a million dollars with other questionable “art experiments” for the non-artists. His idea was very simple, buy a real car and turn it into pieces. From each bit, a video in the form of NFTso only one person can enjoy it at a time.
For the NFT layman, the acronym stands for non-fungible token, a digital element with the characteristics of being unique, indivisible, transferable and -by definition- scarce. As a unique item, but in the digital world, only the one with the “key” can access its content. Obviously it can be resold in the future, losing access to it.
The car, apparently functional and with some added value in the form of modifications and extras, was taken to a desert in the United States, where its flyer was programmed with an engineer licensed to detonate explosives. Using high-speed cameras, the explosion of the supercar was filmed.
Of all the pieces in which the car was left, 999 collected, each one was labeled and filmed in 360 degrees on a black background. A 4K video converted to NFT has been made from each fragment. An auction was scheduled to give ownership to 888 people, aside from the 111 project participants -they can later resell them if they wish-.
At this point, more than one will wonder what the logic of all this is. Videos in NFT form were recorded for auction to the highest bidder. This brings us to the next point, an auction where you can only pay with cryptocurrencies, specifically with Ethereum.
The auction process is deceptively simple for crypto connoisseurs. First you must have a minimum amount of 0.01 ETH, which in exchange are €23.15, for the initial bid. The first 888 bids earn your NFT, one bid per person cryptocurrency wallet.
In the case of the 50 bidders who put the most money on the table, they have an extra 5 minutes to make changes and raise their bids. In the slightest possible case, 0.01 ETH per 888 people, they leave at least more than 20,550 euros. The actual figure would be much higher.
A 2015 Hurricane is usually priced between $200,000 and $300,000 in the United States
The intention of these transgressive artists had an evident profit motive? Yes and no. According to Fortunea large part of the sum obtained by the auction is intended to finance public art installations, and the auction itself aims to create a reflection on the greed and short-termism that cryptocurrencies represent.
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But the wind of history blew, and the auction was scheduled for February 25. Before that date we all know what has happened, Vladimir Putin has ordered the Russian army to invade his neighboring country, Ukraine. The price of Ethereum against the euro has hardly changed in recent days, so that is why it is not.
Shl0ms ended up announcing that the auction is postponed indefinitely, so for now he will not have been able to recover a cent, neither he nor the other members of the project. Surely, when things calm down, the auction will end up taking place.
By the way, the pieces of the Lamborghini will remain stored in an undetermined place and will not be delivered to the winners of the auction. On a previous occasion Shl0ms won $500,000 smashing a replica of a porcelain urinal over 100 years oldonly this time he did hand out the bits after filming them in 4K and turning them into non-fungible tokens.
Source: fortune