After blowing up a Lamborghini Huracán, NFT artist, SHL0MS, is dropping the $CAR NFT collection. This collection features 999 fragments of the detonated sports car, 888 of which will be available for auction. The auction is set to begin at 8pm, 25 February 2022, and will run for 24 hours. This event has been turning heads since it was first tweeted by the artist.
The NFT artist completed this project to protest against greed and short-termism within the industry. However, he is now auctioning off the fragments of the car as NFTs, standing to make at least $23k from the base price. Consequently, this controversy has stirred some debate within the community. Nevertheless, SHL0MS told Fortune that majority of the proceeds will go to fund public art installations.
$CAR NFT blind auction
As mentioned, 888 fragments will be put up for the blind auction, each with a starting bid of 0.01 wETH. The remaining 111 fragments will be reserved for the team, which consists of more than 100 members. According to Fortune, the team includes logistics, on-site camera work, production assistants, and others.
On the day of the auction, participants need to connect their wallets to the auction site to place their bids. Each wallet can only place 1 bid, but it can be changed anytime within the auction period. At the end of the 24 hours, 888 of the highest bidders will each receive a $CAR NFT. An important note is that the NFT does not include the physical fragments, but they may be displayed in the future.