The Invictus NFT Lab presents
The Out of Africa Collection
Combining the best of Fine Art and Blockchain Tech
118 ‘Original’ NFTs backed by unique Physical Artworks from Southern Africa’s top artists. 1,770 deflationary ‘Poster’ NFTs available via free lottery.
Phase One | mid-Jan to mid-Feb| Free lottery for Poster NFTs
Phase Two | Late Feb | Original NFT auctions
10% of all revenue to the Community Treasury to Sweep the Poster Floor.
Fair launch allows anybody to be a part of NFT and Fine Art history.
We are proud to present the NFT Lab’s maiden collection, Out of Africa. This pioneering NFT project, built on the Ethereum blockchain, aims to demonstrate the compatibility of blockchain innovations, the metaverse and the traditional fine art world — helping to blend the best features of each sector to appeal to both traditional art collectors and digital natives alike, while simultaneously demonstrating blockchain technology’s potential to revolutionize entire industries. This article introduces the project and outlines the first two phases, in which the NFTs are distributed.
We’ve partnered with a range of premier Southern African fine artists, many having extensive experience exhibiting their works to adoring international audiences, to take possession of 118 unique Physical Artworks for distribution to the NFT community. This historic project will offer participants the opportunity to get their hands on NFT representations of these artworks that double as certificates of ownership and can be redeemed to take delivery of the physical work (Original Artwork NFTs, or O-NFTs).
Alongside these 1/1 O-NFTs, which will be sold via a series of descending price auctions, a series of 15 NFT Poster NFTs (P-NFTs) per artwork (for 1,770 in total) will be made available to the community via a lottery (1,582) and marketing initiatives (118).
The catch is that these P-NFTs, despite not representing ownership of a physical artwork, still have fundamental, intrinsic value!
10% of all project revenues will be allocated to a Community Treasury to be used to support the floor prices of P-NFTs through periodic buy-and-burns. The project hopes to appeal to everybody, with our vision that P-NFTs provide an affordable entry into this community of art lovers, without having to pay the high price associated with an O-NFT.
Read on to learn more about the unique sales process.
Phase One: P-NFT Lottery
Phase One, which is set to kick off 20 January 2022, is luck-based and will involve interacting with a smart contract to participate in a free-to-enter lottery (you will still incur a small gas fee when interacting with the smart contract). 1,770 P-NFTs will be up for grabs. At the end of the entry phase, winning wallets will be able to mint their P-NFTs, and trading on an OpenSea market will begin in the lead up to Phase Two.
Phase Two: O-NFT Auctions
Phase Two, expected late February 2022, will involve the auction of the 118 O-NFTs, which can be used to take delivery of the Physical Artwork. Dutch auctions (also known as descending price auctions) will be used.
This phase is expected to run on a tight schedule communicated well in advance to the community, allowing collectors plenty of time to make the necessary arrangements for their bids.