Hybrid-NFT Adopted in the Arts and Collectibles Industry and Successfully Bid for GBP 18,000 at Auction House
Bonanza Goldfields Corp. is pleased to announce that a Hybrid-NFT (h-NFT) for the New Gold Penny of Henry III was successfully bid for GBP 18,000 at a renowned collectors’ auction house dating back to 1600s on 23 January 2022 in a partnership with Coinllectibles. The latest h-NFT follows the successful sale of film premiere tickets, movie posters, and drama stills minted into h-NFTs from “Lockdown” thriller, and “Forensic Psychologist” by Phoenix Waters Productions.
Marvion’s trademarked Hybrid NFT was used, which contains the digital ownership title (DOT) to the private and commercial licences described therein with respect to the video Mp4 4k UHD file of the New Gold Penny of Henry III. These licences, together with a contractual obligation not to issue another identical h-NFT (meaning that this h-NFT is one of a kind), are minted into the h-NFT and uploaded onto the blockchain for full authenticity and transparency.
Commenting on the usage of a h-NFT in the successful auction, Gerald Gn, Head Corporate Finance of Marvion said, “We are honoured that our h-NFTs are widely adopted across industries, in this case, the arts and collectibles industry. Our h-NFTs are unlike any other, and is an integrated, best in class, digital ownership title (DOT) that contains a smart contract that can execute transactions and also contains the specific legal terms of the intellectual property ownership, license and/or rights. We aim to work with more partners to bring such exclusive, unique and diversified h-NFTs to the community in the near future.”
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