An immensely talented seven-year-old elephant has decided to join the growing NFT space by creating his own art.
Art that shows everything this elephant sees – trees, animals, blue skies, or even self-portraits can now be purchased as NFTs by Tunwa at the Maetaeng Elephant Park & ââClinic in Chiang Mai, Thailand.
Part of the income generated from the token sale will go to support the Elephant Park, which is home to over 80 elephants that thrive in a human environment where elephant paintings have been held for over 20 years.
Coin Rivet spoke with Dwain Schenck, co-director of BitTrunks, the NFT arm of Elephant Art Online (EAO), Thailand’s leading elephant painting seller.
Schenck confirms that when it comes to NFTs and the overall interest of such an investment, at this point the greatest interest is not in the art itself, but in the opportunities offered by NFT as as trading platform.
âIn short, investors are looking for items that can be collected long term or items that can be returned for profit in a short period of time.
âWe believe this will change as the NFT market matures and there are new and innovative expressions of digital art, in all its forms,â he said.
In addition, Schenck explained how the NFT market is undergoing some very exciting changes from an âundergroundâ art collection platform to an entry into mainstream markets.
âThere is basically nothing new about the art itself, but what sets NFTs apart is the platform and the opportunities for new and existing artists to sell their work in a completely new way. new, “he said.
He added that for the first time, thanks to blockchain technology, NFTs allow artists to get paid a percentage of a subsequent sale every time their NFT changes hands.
âAs with any new market, there is huge competition and today there is an incredible abundance of art,â he said and noted that NFTs are valuable because they are designed to be rare. .
âSo in an increasingly digital world, collectors and investors are looking for more authentic and personal offerings and NFTs are a great way for artists to reach new audiences and develop innovative business models in terms of âDeliveryâ of their work, whether it’s paintings, sports cards, music, movies – whatever you want, âSchenck said.
Using the NFT elephant as a source of funding rather than relying on tourism
Recently, International Animal Rescue said it will accept crypto donations and the tokens will go to fund a shelter the charity is building in Costa Rica.
At EAO, they also accept crypto payments, but they have chosen not to register as a charity, but rather to accept donations and sell their art.
Schenck said there is really nothing like it in the world where a few elephants can paint under human guidance pictures of elephant keepers that most people couldn’t even imagine possible.
âProceeds from our NFT sales will be invested in expanding our elephant hospital which is already available free of charge for 800 elephants in the area around our park in northern Thailand.
âOur goal is to be able to use crypto and NFT as a source of funding instead of relying on tourism. If we can make this a working model, we plan to expand this concept and help other struggling animal parks in Thailand and elsewhere.
âOur buyers and investors will also receive regular reports on how the money is being invested. We believe that this first NFT will not only be an excellent investment, but will also increase awareness of the importance of animal welfare as well as the preservation and protection of the elephant, âsaid Schenck, expressing his regrets that the elephant population has experienced significant declines in recent centuries in Asia and Africa.
Schenck also argued that even though an NFT is just a platform that opens new doors for generating money, money will always be the engine of any new technology.
âHow we all use this tool remains to be seen. We believe it will evolve in the same direction as a traditional art gallery, but with much more potential and opportunities.
âThere is no doubt that NFTs can be used for good. Some say it’s the next new frontier in fundraising. NFTs have allowed charities, celebrities and individuals to auction their digital creations, with all or most of the proceeds going to a charity of their choice.
âWe use our NFT art to support the lives of over 80 elephants in our park alone and provide medical assistance to over 800 elephants in northern Thailand,â he explained.
Dapper Labs is one of the biggest investors
Speaking of the biggest investors, Schenck mentioned Dapper Labs, the start-up behind the NBA Top Shot digital basketball trading card platform, which has shown that sports-focused NFTs are a huge field in investment matters.
âI think Top Shot is now valued at $ 7.6 billion. Entertainment companies, major venture capitalists and venture capitalists are also entering the NFT market in very significant ways.
âSo far almost all investors in NFTs are for-profit,â he said, but added that there is certainly an opportunity for more philanthropic investors to enter the scene soon.
âIt’s already starting to happen. In our case, this is a great opportunity to be a part of something good and still earn something tangible to prove it. This token of charity also offers the opportunity to make a profit, âhe added.
The idea of ââcreating the world’s very first elephant-made NFT art has become a natural extension for us to take advantage of what has been happening for over 20 years in our elephant park.
He also explained the softer side of creating NFT, like watching an elephant have fun doing what he loves.
âThis painting took just over four hours for Tunwa to produce, including snack breaks and free time to walk around the park and eat bananas, one of her favorite treats.
âElephants never have to paint and when they lose interest, they come back later to start over.
âSo on the one hand, buying an Elephant Art NFT is an investment in what is easily one of the most unique paintings on the planet – the pieces turn heads,â he said.
Schenck also added that the lucky bidder will also have opened the door to usher in a better future for the herd.
âFor old and unborn elephants. It’s not just a purchase, it’s a contribution to help support these enormous mammals which have been a national symbol of Thailand for over 800 years and an icon at the very heart of its history and culture. people, âhe concluded.