May 20 - May 31, 2022
2016 by Zsolt Lorant
Digital Art Non-Fungible Token (NFT)
What is included:
- Unique digital file 1/1
- Artist’s Certificate of Authenticity
- Smart Contract with limited exploitation rights*
The artist about "Time Machine":
A real Incendia fractal. The picture was taken in pursuit of clarity and dynamism. The shapes and colors were finalized after a long journey.
By clicking the button below, you commit to pay the full bidding amount, thus buying the item if you are the winning bidder. You agree to give a proof of funds, which can be requested by the International Gallery of Fine Arts (IGOFA) at any time. If you fail to show a proof of funds, your bid might be removed and your account might be blocked for all auctions.
Payments can be made in USD or the equivalent amount in other currencies incl. BTC, ETH, USDT, YEM.
If the payment is made in another currency than USD, the value of payment must match the winning bid at time of payment.
* = Exploitation rights are limited to the following rules: the owner of the digital file (NFT) is not allowed to create any digital or printed copies of the artwork. Thus, there is only 1 (one) unique and authorized file circulating. After the auction is closed, there will be 2 (two) limited editions of printed versions of the artwork: 100 (one hundred) poster prints and 50 (fifty) prints on canvas, both to be exclusively sold thru the International Gallery of Fine Arts Ltd. (London). The owner of the NFT will receive 50% (fifty percent) of all net sales profits. There are no sales guaranteed, but the prints are expected to be sold out within 36 (thirty six) months of production with a profit share of appr. US$ 18,000 (eighteen thousand U.S. Dollars) to be paid to the owner of the NFT at time of sale.
Additionally, the owner has the option to agree on the digital exploitation of the artwork as follows: the file can be part of an digital arts flat-rate subscription for individuals, businesses, galleries, and museums with a return of US$1 (one) per month per subscription for the owner of the NFT. Estimating an average of at least 1,000 (one thousand) subscriptions in 2023, the owner of the NFT would receive on average US$12,000 (twelve thousand U.S. Dollars) per year as proceeds from digital subscriptions. There are no subscriptions guaranteed.
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