A Saudi creator, Mr. Abdullah Qandeel goes live today with his “Artist Approved Non-Fungible Physical and Digital Tokens (AP-T/AD-T),” which, for the first time, marry physical and digital assets together in one token which can only be minted by the original creator of the creation as announced in his White Paper “The AP/AD Token Standard”, co-written by Alex Alexandrov.
His first AP-T/AD-Ts are exclusively available on the decentralized exchange platform, ChilliSwap. Qandeel combines the worlds of art and Blockchain by making available his unique abstract creations on the new and upgraded ChilliSwap platform.
The first creation which was minted under the new AP/AD Standard is an AP-T of Ambition Man. Being an AP-T, the token is a marriage of physical and digital aspects of the creation, the IP to which is embedded in the token itself.
The physical aspect of the token is the oil on canvas painting, having the size of 60 inches x 40 inches. In addition, the AP-T includes the rights to a unique one-minute video, based on the Ambition Man artwork.
The AP/AD Standard allows for the tokenization of creative energy. Any creation can be minted as either an AP-T or AD-T, including paintings, music, sculpture, drawings, video, etc.
Unlike usual tokens currently available in the market, tokens minted under the AP/AD Standard are superior in safeguarding both the creator’s and collector’s interests because they have three unique features:
- The IP rights to the creation being tokenized are embedded in the token itself and passed on to the collector.
- Tokens minted under the AP/AD Standard ensure the equitable remuneration of the original creator through introducing an Enhanced Royalty System (ERS).
About Abdullah Qandeel
Mr. Abdullah Qandeel is a 33-year-old Saudi Arabian artist who creates abstract paintings with the bold use of colors and lining.
Qandeel is a dedicated creator, as well as an ambitious, politically and culturally aware citizen of the world. His first creation which was minted under the AP/AD Standard is now available for purchase on ChilliSwap; please visit the site to see his innovative art.
ChilliSwap is a DEX (Decentralised Exchange) platform and ecosystem for users to trade tokens, yield farm/stake, and it is also the world’s only AP-T/AD-T marketplace. It is a multichain, decentralized platform that allows users to stake ethereum and binance smart chains without requiring a single owner or operator.
ChilliSwap facilitates peer-to-peer bitcoin transfers while enforcing strict security rules. Decentralized exchanges exist to address issues caused by centralized exchanges, such as price manipulation, phony trade volumes, and much more.
To learn more, visit: chilliswap.org