The Freeport collection includes reproductions of Andy Warhol’s Marilyn, Double Mickey, Mick Jagger and Rebel Without a Cause. Each of the four reproductions is released in a limited edition of 1000 lots. Waitlist members receive priority access to these digital art pieces. For the rest, sales will begin on May 10.
As it became known to the media, despite the fact that works of art are involved in the trade offer, in terms of their internal content, tokenized assets are not NFTs, but ERC tokens. In fact, they are fractional shares, and the acquisition procedure is tantamount to a mini-IPO.
Reg A is a type of US Securities and Exchange Commission (SEC) approval that allows companies to sell ERC tokens as if they were simple fractional shares. Previously, the regulator granted the Freeport art platform the appropriate permission.
In September 2021, the Russian Hermitage launched the sale of tokenized works of art on the Binance exchange. The St. Petersburg Museum sold five NFTs and received 32 million rubles for them.
Source: Bits
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