Nigerian NFT artist becomes the first to use social tokens during a Christie’s event

advertisement

On Thursday, the Nigerian NFT artist Osinachi incorporated social tokens during an event at Christie’s — marking the first time social tokens have been used at the art auction house. 

At the event at Christie’s in London, Osinachi displayed five NFTs in the collection “Different Shades of Water,” also marking the first time an African artist displayed an NFT at Christie’s Europe. 

The display included a unique monetary incentive aimed at viewers. If they shared pictures of the art on social media, they could earn $OSINA tokens via a scannable QR code. These so-called social tokens will then be usable on the Socialstack CommunityOS Shop to purchase Osinachi’s NFTs, merchandise and other physical products. 

Social tokens are cryptocurrencies tied to individuals, communities or brands. Osinachi is the Chief Creative Officer of the DAO platform Socialstack, a social token platform based on Ethereum and Celo that was used to create and disseminate Osinachi’s $OSINA tokens.

Christie's has been increasing its involvement in the NFT market since its landmark $69.4 million sale of Beeple's Everydays: The First 500 Days collection in March. Last month it auctioned off Meebits and Bored Ape Yacht Club NFTs.

As for the Osinachi event, Christie’s was “excited to learn more about social tokens and to see how it goes,” Socialstack CEO Andrew Berkowitz told The Block.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

The Era of dFMI for Institutional Digital Asset Markets

Post-trade in capital markets today operates primarily based on provision of balance-sheet to off-set counterparty risk, either directly or indirectly, via settlement agents, CCPs and CSDs etc.  The issues with this ‘hub and spoke’ model are well known, including the resulting massive duplication of data, bifurcated processes, concentration of risk and subsequent deployment of capital and resources that could be better utilized. 
Read Full Story
Sponsored Post

Retail traders are here to stay, says eToro's US CEO

On this episode of The Scoop, eToro's newly appointed US lead Lule Demmissie explained why she doesn't see retail's newfound presence in the market subsiding anytime soon and how eToro plans to capitalize on growing the business across cryptocurrencies and stock trading.
Read Full Story
Jan 26, 2022, 4:23PM UTC
More