28/12/2021 Wes Lang Debuts NFT/FAT Project With Project Midas & BAIT

NFTs? No, Wes Lang Is Dropping F.A.T.s

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If you're confused by NFTs don't expect to find any relief in Wes Lang's new line of digital collectibles. Dubbed "F.A.T."s by his partner, Project MIDAS, Lang's NFTs purport to offer collectorsa more concrete pieceof the art world pie.

Backed by some tastemaking investors, Project MIDAS bills itself as "premium asset management using blockchain technology" and specializes in something called a C.A.T., a "Certified Asset Title." These C.A.T.s are basically authenticity certificates tied to the blockchain, which establish pedigree for luxury goods from the manufacturing process down to each point of sale.

Project MIDAS also creates F.A.T.s, or Fractionalized Asset Titles, which slice up expensive assets into more affordable pieces.

The practice of fractional art ownershipis relatively old hat for the art biz, with companies like Masterworks, Artsquare, andArtopoliealready providing similar services but Project MIDAS distinguishes itself by being entirely blockchain-centric.

In a sense, F.A.T.s are a heightened NFT, similarly partitioned but distinct in that Project MIDAS promises ample benefits.

For instance, everyone who's owned an NFT earnsa share of royaltiesin perpetuity when that digital work is sold; Project MIDAS' F.A.T.s are tied to physical artworks and their real-world sales will benefit all investors.

American artist and formerYecollaboratorWes Langis the first major artist to jump into MIDAS' world, parceling out three of his signature Americana-steeped artworks for the debut offering.

With shares ranging in price from $350 to $900, the Wes Lang F.A.T.s — limited to 100, up to 25% of each piece — are relatively affordable considering that even Lang's screenprinted editions can go for over $1,000 at auction. Buyers will actually receive stake in Lang's original compositions and they can get in with their credit cards, no digital wallet required.

MIDAS will retain majority stake in the works as it manages the "Wes Lang Metaverse" which is a pretty funny combination of words. Really, anything + "Metaverse" will take some getting used to but, hey.

Wes Lang F.A.T. owners will also enjoy early access to future Lang NFT offerings, physical merch drops, and a series of monthly Airdrops of "new and animated digital" iterations of the art they've purchased, though the big prize is a guaranteed chunk of the real artworks' sale price.

Complicated enough? Visit Project MIDAS' websitefor the full briefing and to RSVP for an in-person "minting" experience at BAIT's Los Angeles store that goes down on December 28, where any lingering questions can be sorted out.

Arts

https://www.highsnobiety.com/p/wes-lang-nft-project-midas-bait-fat/

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Greatsun
A character from The Beacon
Who is Satoshi Nakamoto?
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Alex in Wonderland
A figure, Alex, stands mostly naked in the midst of a physical and psychological maelstrom. He is clad only in nostalgic 80’s era socks, on a tenuous island between active waters and a variety of shark denizens. Sharks on the right side of the image are all beached, including a shark with a quartz crystal snout, an orange shark wrapped in a life buoy, and a shark further in the distance wearing an 80’s style shirt with the number “88”. On the left side is the largest shark, wearing bright glossy red lipstick and brandishing prominent teeth with braces. She is cordoned off from the figure by a roped float divider, and within her thought bubble is a warning symbol. Behind the figure, hovering in the air, are Grey aliens emerging from the distance, out of a series of elliptical UFO shaped interdimensional membranes. The Greys take on the visual form of spermazoa ostensibly impregnating the interdimensional thresholds. As is typical, these Greys inhabit a zone just behind the unconscious topology of Alex’s dissociative mind. Though Alex’s bottom half is representative, his top half mutates into a psychological cornucopia. In a manner akin to “Auto-Erotic Sphinx”, a predecessor work, the figure has self suctioned—an act of sensual infatuation, enjoyment, and exploration. Upward exists the figure’s primary conscious eye, adorned with a revolutionary beret emblazoned with a Bitcoin badge. The figure’s summit features the nose of a fighter jet facing off against video game Bullet Bills, one of whom is marked by a communist North Korean star. A cropped section of a UFO observes the contest. Alex’s mind branches both left and right. To the left is more singular embodied consciousness, manifesting two eyes and a Ganesh trunk grasping crayons. The right branch dissociates upward diagonally, emerging into an array of eyes, faces, teeth, tail, a unicorn horn, and much more—all of which participate in expressing his unconscious being; a democracy of psychic factions representing thought impressions and associations. All illumination and darkness– fernal, infernal, high consciousness and corporeal underbelly–reside in this realm. In the distance are relatively languid, light clouds, and against the firmament hovers a colossal distant eye peering over the scene and far beyond. This painting possesses underlying genetic traits with previous works such as “Auto-Erotic Sphinx with Toys”, “Dionysus”, and “Fuku-Shiva”. The work serves also as a nod to an earlier period of art inspiration during late teens and early twenties— born out of the nakedness, vulnerability, curiosity, and wonder inherent to coming of age and all subsequent psychedelic revelation.
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By OthersideDeployer
Reflection
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