Technology is reshaping its patterns and ChilliSwap is proud to announce that the first-ever AP-T has been sold by Qandeel on the decentralized platform. The AP-T was sold to a Dubai-based real-estate tycoon.
ChilliSwap had auctioned the AP-T which is the world’s first in the time-stamped marriage between a physical and digital artwork on the blockchain. The merger between the Physical and Digital Artworks is guided by 3 core pillars being present in order to “tokenize creative energy in an efficient manner” Qandeel says. Click here, to read more about the Whitepaper titled “The AP/AD Standard” written by Mr. Abdullah Qandeel and Mr. Alex Alexandrov.
On a high level, AP-T’s and AD-T’s (APAD’s) have succeeded in a proof of concept, as part of the Ethereum blockchain they are ownership certificates of a digital asset (Artwork) paired to a physical asset (Artwork). However, the real success for this token is its ability to embed long-standing value and security to both the collector and creator.
The record-smashing AP-T sale of Qandeel’s work resulted in $600,000 on ChilliSwap (260 ETHER).
PROP-TECH TALK – Gaurav Aidasani – The founder and CEO of Union Square House Real Estate Broker (USH) placed the highest and winning bid of 260 ETH (Approximately USD 600,000). The painting was auctioned at 243 ETH on the ChilliSwap platform 9 days prior.
“Whatever your feelings are about the NFT craze, the only certainty is that technology is the future of the real estate. Here we are witnessing the advent of it from the core, creativity. Upon seeing Abdullah’s Token (AP-T) on Chilliswap, I believed in this new token structure and its application to the future of Tokenization across many industries”.
The fact that this AP-T comes directly from the creator with the physical 60×40 inch painting, as well as the digital realization from the artist, makes this extremely historical and valuable .” said a proud owner of “Ambition Man” the AP-T.
About Abdallah Qandeel
Abdullah Qandeel is a 33-year-old Saudi Arabian artist who creates abstract paintings with the bold use of color and lining. Qandeel exemplifies the fusion of Saudi traditional values with the Arab world’s rapidly changing cultural landscape. Qandeel is also a dedicated artist; he is ambitious, politically aware, and a culturally enlightened citizen of his country.
Ambition Man is the first APAD standard-conforming token with the following embedded in the smart contract:
ERS – Enhanced Royalty System
About Gaurav Aidasani
Gaurav Aidasani, founder and Managing Director of Union Square House Real Estate (USH) is a 38-year-old firm believer of innovation and technology, who strategically set up his real estate business in 2010 amidst the global financial crisis. With his passion for becoming successful by defying the odds and providing clients with the
best ROI they could ever have, he was instrumental in managing assets worth over AED 1 billion by the year 2020. Mr. Gaurav’s main focus is to build a system where everyone connected to the platform will achieve their goals and succeed in the coming decade.
ChilliSwap is a DEX (Decentralised Exchange) platform and ecosystem for users to trade tokens, yield farm/stake, and is also a Fine Art NFT digital marketplace. It is the only AP-T and AD-T marketplace worldwide. ChilliSwap enforces security rules by using Smart AI Tools such as the AI Auditor for Smart Contracts, Real-Time Fraud Detection, and Smart Contract Verification. Learn more at: https://nft.chilliswap.org/
Disclaimer: This is a paid post and should not be treated as news/advice.