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We’re excited to announce the soft launch of Otis House today.
In case you missed our previous announcement, Otis House is a marketplace, auction platform, and vault for physical items, built on top of Ethereum. The physical items are stored, secured, and insured by Otis. We then mint an NFT for each item, representing ownership and protecting the provenance of the asset.
Our vision has always been to create a new asset class around culture. We believe Otis House is a big step in this direction. Tying physical assets to NFTs makes cultural assets increasingly liquid, open, and transparent:
Liquidity: All the logistics typically associated with physical collectibles like shipping, storing, and insurance are already taken care of, so transfer of ownership becomes truly frictionless.
Openness: NFTs help facilitate a whole new range of transactions, such as the one attempted by ConstitutionDao. While a DAO was created to bid on the Constitution, the organization still had to submit their bid via USD, and would have had to figure out shipping, insurance and taxes.
Transparency: There’s no question of provenance–it’s visible for anyone to see on the blockchain.
For this initial soft launch, we are auctioning off five NFTs ranging from an original Bob Ross painting to a Lebron James rookie card.
These NFTs are open for bidding now. Auction winners will have the option to hold, auction, or sell the NFT – or trade it in for the corresponding physical item.
This Untitled work is a 16-inch round oil painting on a gold plate from circa 1971. The image is of an Alaskan mountain scene and was painted during Ross's time in the military stationed in Anchorage. These early pieces, which Ross sold for extra money, ultimately are what gave him the confidence to take up painting full-time, eventually becoming a household name.
Super Mario Bros. 3 is heralded as one of the greatest video games in history, and was the third highest-selling NES game of all time.
This Wata 9.6 graded, CIB (“complete in box”) copy is of the rare “left Bros.” variant (where “Bros.” is on the left side of the box), which represent the earliest production run of the game. It is the highest graded copy of this variant – with one other copy achieving a 9.6 for a population of 2.
LeBron James is the greatest basketball player of his generation and is in the conversation as the GOAT.
This 2003 Topps Chrome Rookie Card was graded a PSA 10 (Gem Mint), the highest grade achievable.
Pokémon Yellow is one of the three original games from Nintendo’s biggest gaming property and one of the most beloved Gameboy games ever released.
While population numbers are not currently known, one can assume that this Wata 9.4 A+ Seal graded copy is extremely rare considering it remained unopened for nearly 25 years.
The Simpsons have been a pop culture mainstay for over 30 years. This special redemption card, hand drawn by Matt Groening, is one of only 400 sketch cards from the original Simpsons trading card set. At a PSA 9, it is one of the highest known graded copies of these cards in existence.
Anyone with an Ethereum wallet can bid in the auctions, which run until Sunday evening. Visit otishouse.xyz for more details.
If you’re a collector interested in vaulting items from your collection with Otis House, you can submit your items here.
For further details, visit our Vault With Otis page.
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