Since the announcement on 1 August on the proposed offering of 8,888 Langkah Sheraton NFTs, we have received overwhelming support from cornerstone and whitelist participants, prior to the official launch for the public on our National Day, 31 August 2022.
We are extremely pleased to announce that in less than 28 hours of the official launch, all 8,888 NFTs on offer have been sold out, with the last NFT minted at 3.20am on 1 September.
In total, the Langkah Sheraton painting by Tony Pua has been sold for 332,120 $MATICs, the crypto-currency on Polygon, a decentralised Ethereum scaling platform. Based on the current exchange rate (1 $MATIC: RM3.93), the total amount raised for DAP General Election Campaign Fund is approximately RM1.3 million.
The NFTs are now available for trade on Opensea.io, the world’s first and largest marketplace for NFTs. Those who are still interested acquiring a Langkah Sheraton NFT can find them at https://opensea.io/collection/langkah-sheraton. The DAP will continue to receive royalties for every trade transacted on Opensea.io.
We would like to express our utmost gratitude to everyone who have whole-heartedly supported the project.
For Malaysians who have acquired the NFTs, you not only own a share of a major historical painting, you have contributed to building a better Malaysia for our future generation.
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Background
On 1 August 2022, I have gifted my 120cm x 160cm oil painting entitled ‘Langkah Sheraton’ to the Democratic Action Party (DAP), via a handover ceremony to the DAP Secretary-General, Anthony Loke.
The painting records the moments leading up to the historic betrayal by members of the Harapan coalition in February 2020, resulting in the latter’s collapse after barely 22 months in Government. It was an extreme painful and sobering moment for millions of Malaysians.
At the same event, DAP announced the launch of the ‘Langkah Sheraton NFT’ project via the website http://langkahsheraton.com. The project entails the issuance of 8,888 non-fungible tokens (NFTs), each representing an equal share of the physical painting.
The project is a novel and innovative venture to enable thousands of fans to own a piece of critically-acclaimed artwork which recorded a pivotal moment in Malaysian political history.
This is possible only with the advancement of blockchain technology and increasing maturity of non-fungible tokens (NFTs) which have opened up a whole new world of possibilities.
The painting can now be acquired not just by one person, but instead be meaningfully owned, collectively among hundreds of Malaysians, if not more.
In addition, with a digital smart contract and a decentralized autonomous organization (DAO), backed by a real world legally-binding document, the owners of the art piece can as a whole, decide on the future of the painting.