The Bazaar & Panther: Physical Strategies in a Digital World
Curators of Dark Matters “Panther” project, enact strategies within the non fungible token (NFT) marketplace. When a curators selected NFT is moved into the main vault (address) this process is known as Acquisition.
NFT acquisitions come in many forms and as the decentralized ecosystem evolves and proliferates so too will the accessibility of other markets, such as the physical item markets. A Physically Backed Digital Asset (PBDA) is the process of having a physical underlying asset backing the NFT, this process requires a trusted party to redeem said physical item.
One of the benefits a digital version has other than ease of transaction is the ability to fractalize. Fractalizing of high end luxury items in this way not only serves to lower the barrier of entry for such items but also allows for multiple participants to receive revenue should said item be loaned out (See https://thebazaar.art/whitepaper.pdf ).
With the upcoming launch of The Bazaar (www.thebazaar.art) , Panther’s curators are able to use the opportunities presented by The Bazaar protocol in three ways.
- Acquisition of luxury physical items to be used in vault and other strategies.
- The redemption of other PBDA projects by using The Bazaar as the physical receiving address.
- The recreation of PBDAs through the use of The Bazaars managing and grading protocol.
Current Curator proposals
- Damien Hirst “The Currency” ; “We acquired 1 of the Hirst pieces, buyers are given the choice to redeem either the physical or the NFT with the other being destroyed. Our proposal is to redeem the physical, send it to the bazaar for grading and re-create it as a PBDA. In our opinion the Bazaar (Panama location) will provide more footfall for actual collectors at the price point we choose to release the piece for.”
- Pixel Vaults “Punks Comic” : “One of the pieces we have allows for the claiming of a physical comic book. Although it is unclear at this time the process and/or opportunity cost associated with this move. Our proposal is to redeem the physical item(s) and send them to the bazaar to be turned into PBDA NFTs. The physical books are likely to accrue value over time but require proper storage and care, something we are comfortable the Bazaar can provide for us.”
- Majins Rugs “LSD Rug” : “One of our early acquisitions and first PBDA was the LSD rug. A fully silk, 75 Knot count rug created in Qum (Qom), the main rug weaving area in Iran. The piece is expected to be one of the first to be moved to The Bazaar, acquiring it allows us to either rent it where possible or have it taken to a rug auction for sale, this way it can be showcased to the correct collector demographic.”
You can see the LSD rug shimmer here: LSD — Fully Silk
As well as see it featured on their Project Managers tweet: https://twitter.com/rtruelove_/status/1415415027645943812
For more information on the Bazaar visit their webpage and read their whitepaper.
Majin Rugs: https://opensea.io/collection/majin-s-mena-rugs
For more information on Dark Matter visit our telegram and discord