Announcing the Rug Pull: an NFT Art Installation and Social Experiment

SuperMassive and $MEME join forces in a world-first NFT experiment

Twelve NFTs up for auction. One of them contains a Bitcoin.

You don’t know which one. No one knows which one.

The owner of each NFT has the chance to break it apart, to delve inside the code. Will you smash the art and expose your fortune? Will you conspire with others to create an artistic digital clique? Will you keep a secret and smolder in your valuable art exclusivity?

We have no idea what you’ll do, and once it’s yours it’s yours, but like the old saying goes, you can’t make a masterpiece without breaking some pineapples.

The brainchild of crypto rebel Robin Schmidt (The DeFiant), blockchain sceptic Simon Wan (Artist) and the awesome people at $MEME, this project asks one simple question:

In a digital world of infinite iteration, instant delivery and reckless imitation, what will happen to art?

Place a bid for your chance to own a unique NFT — and the possibility it contains a BTC.

Auctions: Monday, November 23, 2020 @ 9AM EST — after 24 hours, the countdown timer resets for 12 minutes after each bid.

➡️ Visit the Rug Pull project on dontbuymeme.com

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The Experience

There is a feeling when solid ground under your feet evaporates. When the rug is pulled. That is the feeling we’re trying to encapsulate in this art experiment.

12 NFTs. 12 owners. But at any moment, any one of them could pull the rug.

That is the experience. The truly crypto experience. That is the rug pull.

A jpeg is just a jpeg. Experiencing it as an owner is the same as if you didn’t own it. So how do we change that up? How do we make the experience of owning it different? There has to be something at stake.

A real and tangible mechanic underpinning what’s going on here.

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The Mechanics

There are 12 NFTs. All seemingly identical. Hidden in one of those NFTs is a Bitcoin. You do not know which one that Bitcoin is in. However you can find out by unlocking the NFT and that will tell you whether that NFT does hold a bitcoin or whether it does not.

However, the moment you do so, the status of your NFT whether it holds the BTC or not will be viewable on a website as part of the installation. And the whole world will know, yes your NFT held the bitcoin. Or no, it did not.

What’s it Worth to You?

So there is a 1 in 12 chance that you are in possession of a bitcoin. and there is an 11 in 12 chance that you are not.

What’s it worth to you to take that risk and look inside? If Bitcoin is at $10K, what’s it worth to you? If Bitcoin’s at $100K, what’s it worth to you? We are framing the question of digital art over and above the value of the crypto that’s wrapped up in it.

We’re telling a story that the entire market is a slave to Bitcoin. As the price of Bitcoin increases it changes the relationship between the owner of the art and the art itself. Forcing them to question over and over “how much is this art worth to me?” How long do I want to stay in this experience?

And what’s the value of the art itself? Because this is a real piece of art.

The Art

RUG BOMB DOZEN
by Simon Wan

An entertaining old man looks at his audience through a magnifying glass while he sits and ignores one of the most important phrases ever written about creativity and perception.

A unique piece created by SIMON WAN (supermassive), along with ROBIN SCHMIDT (supermassive) and the fruitballs at MEME that takes a look at greed, crypto, culture, art and value.

Hitchcock looking through a magnifying glass at the audience. And that Hitchcock reference is so important. Because one of Hitchcock’s prime directives was to create tension. He called it the bomb under the table. At any moment this ticking bomb could go off. You don’t know when. All you know is that it will.

The Reveal

In its unrevealed form, the artwork presents as a constantly shifting animation of swirling colors and textures. The irony is that the art is hidden under a layer of bubble wrap.

It’s only when its secret is revealed that the art represents in its full untouched glory.

REKT

Any one of the other 11 people who own the NFT could pull the rug on you. But in so doing they also pull the rug on themselves and reveal that you are the one who hold the bitcoin. Because the moment that the wallet with the bitcoin is revealed, all the other NFTs are immediately revealed as not to have it.

Pull the Rug

So if you’re looking to explore the boundaries of art and digital art and the experience of digital ownership further, then this is an experience for you. But I’m telling you this: It will not be for the faint of heart.

Auctions: Monday, November 23, 2020 @ 9AM EST — after 24 hours, the countdown timer resets for 12 minutes after each bid.

➡️ Visit the Rug Pull project on dontbuymeme.com

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