MF DOOM NFT Legacy Auction
Illust Space–an augmented reality NFT marketplace–is hosting an MF DOOM crypto auction in collaboration with Rhymesayers, MF DOOM’s wife Jasmine and the estate. The auction includes an exclusive 1-of-1 BLACK SLUDGE AR mask, the sole remaining NFT asset from their initial October 2020 collection. This latest auction builds on the success of that launch which made history as the first Augmented Reality NFT. Sadly, MF DOOM passed on Oct 31st, 2020, one day following the close of the original auction, making this one of his final collaborations. This auction coincides with the launch of the Illust Space marketplace, which allows previous buyers and new owners the opportunity to resell NFT’s they’ve purchased on Illust Space. Unlike other resell markets where the artist is cut off from any benefits in continued reselling, these “smart contracts” will automatically deliver a percentage of every resell to DOOM’s crypto wallet for his family and estate, every time these masks sell, forever.
As part of the initial sale of BLACK SLUDGE, 90% of total proceeds will go to MF DOOM’s estate. For every secondary sale, or resell, 10% of that revenue will go back to DOOM’s wallet in the form of a royalty payment. Additionally, some of the current holders of the AR masks are providing individual donations on top of the royalty percentage. The auction begins Thursday, March 11th at 8:00 PM PST, and will conclude on Friday, March 12th at 10:00 PM PST.
For more information on the auction: https://app.illust.space/
- What’s an NFT? NFT’s or Non-Fungible Tokens are a blockchain standard that use digital contracts (smart contracts) to assign attribution rights to artwork, digital collectibles, and unique items. Each NFT can be purchased, sold, and traded like a physical object yet still retain its certification of provenance as the object changes hands.
- Blockchain and Estate Planning: Due to blockchain’s immutable and decentralized ledger technology, all of MF DOOM’s AR NFT collection will be available for future generations of fans and collectors, creating a new model for royalties and posthumous creative control legacies.
- The Future of Artist Royalties: NFT’s and Smart Contracts allow artists to maintain authorship, define commissions and even manage future changes for their work long after the first sale of the piece.
- Working in conjunction with MF DOOM's wife Jasmine, monies generated from the sale will support the family as well as future creative projects.
- The masks have a current estimated value between 10 to 50 eth ($15,000-$75,000)
For anyone who has a crypto-based wallet, you can donate to the MF DOOM fund. Please find his Ethereum wallet here: DOOM.eth