Last Updated on Apr 1, 2021 at 1:57 PM
The Wall Street trading company, Phemex, strikes again – this time with plenty of creativity.
Until April 2nd, you can sign up to be part of the QR Art Phemex is planning to put at auction on OpenSea as an NFT.
This marks the first NFT made entirely by a trading community, everybody having a chance to get paid for the beauty of their crypto wallet.
But What Is an NFT?
In case you don’t understand what is with the massive hype over Non-Fungible Tokens, note that they represent the proof of ownership over a unique asset. The asset can be found in any form, digital or physical. As long as it is registered in a blockchain, it fits.
What is unique about NFTs is that they can’t be replicated or counterfeited. Built on blockchain technology, nobody can claim that they own an NFT if it’s stolen – because it is linked with the public key of the owner.
Because of that, people started to use NFTs to sell valuable items like pieces of art, for example. The others bid for them either for collections or to sell them onward. That’s how Nyan Cat got to $561,000 this February.
So What Is Phemex Doing?
An amazing piece of NFT art – a collage with the wallet addresses’ QR codes of Phemex’s traders.
This will be listed on OpenSea, the most known NFT auction platform worldwide – therefore, you can bet that Phemex’s piece of art will get the value it deserves.
If you want to appear on the final piece, all you need to do is follow @phemex_official on Twitter and complete the sign-in form. Here, you will have to upload a print screen of the generated QR code of your wallet and enter your UID and ETH deposit address.
Don’t worry, this will not make your wallet account fragile like an open book. The QR code is linked just with your wallet address – similar to the IBAN of digital cards.
Will the Event’s Participants Get Any Rewards?
Yes, they will.
Besides being part of a real piece of art, 10% of Q aRt’s participants will also get to equally share some earnings from the winning bid. And to make sure the NFT art will get the attention it deserves, Phemex’s CEO will make the first bid – $100,000.
A fair initial price knowing that there are over 10,000 submissions already.
Q aRt’s Timeline
If you want to participate in the event, you need to hurry up because Phemex will close up the sign-in form on April 2nd, 3 PM UTC.
With the QR codes sent, Phemex’s creative department will sculpt the NFT until April 12nd, when they will unveil it on OpenSea for auction – open until April 19th.
Phemex is a crypto derivatives exchange built by amazing traders on Wall Street, known especially for their creative contests and events, like Trader’s Arena.
On their platform, you can safely spot trade your assets with zero fees while getting up to 100x leverage. Their security is also a top benefit of using the platform, having multi-levels of protecting users’ accounts (like cold wallet storage and offline signatures).
So what do you say? Are you ready to show off your wallet’s refinement?
Then join the Q aRt challenge, and don’t forget to follow Phemex on social media to keep up with the following updates:
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