Fraktiq, the world’s first blockchain platform for fractionalized historical artifacts, is pleased to announce the debut of its flagship project and the offering details of the “Baoyue Vase NFT”. To raise public awareness and appreciation of the artifact’s cultural value, a VIP appreciation session of the “Blue and White Phoenix Vase” (“Baoyue Vase”) was held on 26 and 27 July 2022 at Wanchai. Celebrities, professional investors and media representatives were invited to get a first glimpse of the true colors of the artifact made during the Yongle period of the Ming Dynasty, which is part of Fraktiq’s effort in promoting the appreciation of the historical artworks, as well as the story and cultural heritage behind the masterpiece.
Fraktiq is co-founded by experts from art, finance and blockchain technology, dedicated to decentralize the art treasure market for collector’s treasures items by using Non-Fungible Token (“NFT”) technology, at the same time encouraging more digital collectors to manage and co-own the art piece together in the form of a Decentralized Autonomous Organization (“DAO”) membership, so as to promote the historical backstories of the art treasures to the public while preserving Chinese culture.
“Hong Kong is the art hub of Asia, offering comprehensive valuation, auction, custodian and legal services, with an increasing number of individuals and professional investors participating in the field of historical and digital art, all these factors make Fraktiq the ideal ground to fulfill its mission.”, said Louis Li, Co-founder of Fraktiq.
Fraktiq’s first flagship project, “Baoyue Vase NFT”, uses financial technology to lower the entry barrier of historical treasures collection. The “Baoyue Vase NFT” project offers the management rights of the Baoyue Vase in the form of 10,000 NFTs to the market. In which, 40% (4,000 pieces) of the NFTs will be available for professional investors from now until 18 August. During the public offering phase, starting from 19 August, 60% (6,000 pieces) of the NFTs will be available for the general public. Each NFT is priced at 1,050 USDC.
Randy, Co-founder of Fraktiq, said, “With reference to the auction price of a similar artifact of the Blue and White Phoenix Vase, that was sold at Sotheby’s for over HK$100 million, the Baoyue Vase in this project is verified and valued at approximately HK$80 million by auction house. The Baoyue Vase NFT project is incorporated in the Marshall Islands as a DAO LLC, which provides legal protection to the project. In the future, we will register every artifact launched on the Fraktiq platform as a DAO LLC in the Marshall Islands to encourage participants to jointly manage and promote the cultural value of historical treasures.”
To promote public awareness, the project team held a private appreciation session of the “Baoyue Vase” at Wanchai on 26 and 27 July, inviting celebrities and media representatives to have a first look at this historical masterpiece, which was made during the Yongle period of the Ming Dynasty. Mr. Louis Li said, “We believe that it is important to encourage more people to witness the unique charisma of the artifact in order to promote Chinese culture and art appreciation. Therefore, we shall arrange exhibitions in museums around the world. We are also donating 10% of the proceeds from the sale of the ‘Baoyue Vase NFT’ to charity, to support the promotion of historical art appreciation to the public and enable our next generation to better understand the splendor of history and culture.”
*This information is intended for general purposes only and does not constitute any offer, solicitation or recommendation for any product
The world’s first blockchain platform for fractionalized historical artifacts, Fraktiq provides a legally recognized and trusted way for the public to collectively own artifacts through blockchain technology. In doing so, it achieves two main missions:
Preserving precious artifacts for future generations
Artistic masterpieces record the history of humankind and highlight years of artistic achievement. They deserve to be cherished and protected.
Limited artifacts to meet infinite demand
The number of artworks with rich historical value is very limited. With the passage of time, they are prone to natural aging and thus, becoming increasingly rare. With blockchain technology, Fraktiq hopes to make rare artworks that exude artistic charisma and history last forever.
For more details, please refer to: https://fraktiq.art
Topic: Press release summary