• Peter Schiff, a vocal crypto skeptic, is releasing an NFT art collection on the Bitcoin network.
• The “Golden Triumph” collection consists of one physical painting, 50 prints and 50 digital versions inscribed as Ordinal NFTs.
• The auction will take place from June 2 to June 9 and the highest bidder will receive #1 of the collection.
Peter Schiff’s Unexpected Move
Despite being a long-time critic of cryptocurrency, economist Peter Schiff has unveiled a collaborative nonfungible token (NFT) art collection on the Bitcoin network that will soon go up for auction. This has baffled many in the crypto community who are amused by his apparent hypocrisy.
The Golden Triumph Collection
The “Golden Triumph” NFT collection consists of one physical painting on an oil linen canvas depicting a human hand holding a bar of gold, fifty prints on archival paper depicting the same image, and fifty digital versions inscribed as Ordinals NFTs on Bitcoin.
The collection will be sold via a two-part auction starting on June 2 and ending on June 9. For the Ordinals, the highest bidder will receive #1 of the collection with descending order for all other bids from #2 to #50.
It appears that Schiff hasn’t done a complete turnaroundon BTC but has woken up to blockchain technology’s use case for verifiable ownership of assets such as artwork via NFTs. When asked if it was valuable to put his ‚gold‘ inscriptions on Bitcoin but not BTC itself, he answered „correct“.
Schiff’s latest move has sparked mixed reactions in the crypto community with some people welcome this surprising collaboration while others remain unconvinced by his views towards cryptocurrency overall.