Lloyds Auctions has put a collection of photograph negatives up for auction, with the winner to receive proof of ownership via blockchain.
Lloyds Auctions has decided blockchain is the best way to prove ownership of a set of negatives capturing moments in Australia’s history, such as Ned Kelly’s armour and Phar Lap winning the Melbourne Cup in 1930. The auction house will mint the Rose Stereograph Company, a collection of original glass plate negatives from over 140 years of operation, via non-fungible token (NFT). NFTs are used to verify unique items. The blockchain-created certificate of authenticity is used for a digital asset such as art. SEE: NFTs cheat sheet: Everything you need to know about non-fungible tokens (TechRepublic) All physical glass plate negatives being auctioned have been minted as an NFT and ownership of the NFT will transfer to the highest bidder at the conclusion of the auction. Winning bidders will receive ownership of both the minted NFT and a tangible original glass plate negative. «We have taken considerable measures and invested heavily in state-of-the-art technology in order to honour the owners of one of the most significant photographic collections in Australian history,» Lloyds Auctions chief operations officer Lee Hames said.
