A cherished trumpet belonging to famous DJ Timmy Trumpet, insured for $1,000,000 and performed in front of millions of fans, is being auctioned as a Non-Fungible Token (NFT), coupled with a Mattereum Asset Passport for bulletproof provenance. Mattereum’s next prize is a $1.6 million antique violin.
Mattereum crosses the gap between actual artifacts and the realm of NFTs with Timmy’s Trumpet’s Million Dollar Trumpet. The instrument is kept safe in a vault, but the NFT may be traded amongst collectors in the crypto realm.
Mattereum employs Trustable NFTs, which are digital tokens that are backed by a Mattereum Asset Passport and signify ownership of tangible commodities. A system of warranties ensures the veracity of information regarding underlying physical assets. When trusted NFTs are combined with Mattereum’s smart contracts, a framework is created that allows for legally enforceable warranties as well as actual digital and physical ownership.
The trumpet is the first in Mattereum’s expanding inventory of high-value musical instruments, solidifying the company’s position as the most trusted platform for artists, investors, and collectors to exchange physical commodities in the digital marketplace utilizing blockchain NFT technology.
The auction will demonstrate the use and value of Trustable NFTs in the fine instrument market. For the preservation of vital provenance, conservation, and performance information, a museum-level approach is combined with distributed ledger technology. This method increases the object’s archival and financial worth uniquely.
A rare 17th-century Italian violin by Joseph Guarneri, Filius Andrea of Cremona, tentatively valued at $1.6 million, is the first stringed instrument to be sold as a Trustable NFT. This magnificent instrument will be the first in Mattereum’s growing collection of high-value and culturally important items.
Vinay Gupta, CEO of Mattereum, says:
“Mattereum has been built from the ground up to support the curators and custodians of beautiful things. We make trust in trade possible by embedding the full history of an asset in the legal documents, signed on the blockchain. As you can see in the fantastic Timmy Trumpet NFT, the full history of the physical item is embedded right into the Mattereum Asset Passport.”
“This gives excellent protection to buyers and all future owners. Conservation events, like repairs and routine maintenance, can be stored in the same general format. Over time this will make fine instruments and other irreplaceable parts of humanity’s shared cultural heritage accessible to a wider range of buyers because the provenance is clearly established and documented.”
“We will use best-in-class legal structures for governance of the culturally significant heritage assets which we are documenting and helping owners bring to market.”
An original 14k gold Mood Stone Ring, which just sold for $65,000, and a color screenprint Trustable NFT of Alexander the Great, made and signed by famed pop-artist Andy Warhol, both valued at $200,000
About Mattereum
Mattereum, situated in London, was founded in 2017 by a multi-disciplinary team led by former Ethereum release coordinator Vinay Gupta with experience developing and implementing nation-state-level infrastructure. Mattereum is a worldwide pioneer in developing systems for representing and selling precious real-world assets such as fine art, gold, and real estate online. More information may be found at mattereum.com.
The trumpet Trustable NFT auction may be found at mattereum.com/nft/timmy-trumpet.
Mattereum Asset Passports
The Mattereum Asset Passport is a third-party verified blockchain-based digital identity. They may be assigned fine art, collectibles, luxury goods, aviation components, consumer electronics, and other asset classes.
That’s why the Mattereum Asset Passport combines legal and digital agreements to establish legitimate ownership of an object while also providing secure digital provenance and dispute resolution. These smart legal agreements are signed and encrypted on-chain and stored in IPFS-like distributed storage networks.
Timmy Trumpet is a trumpet player
Timmy Trumpet is a platinum DJ. Timmy is a Web3 fanatic who appreciates multimedia integration as an early blockchain investment. DJ Mag Top 100 ranked him #9 in the world in 2021 with 500 million streams and 37 million listeners. One billion streams and 37 million listeners put him in the top 500 most listened to artists on Spotify.
