Vault 000

At the core of the CypherDAO treasury is “The Fungible” collection by digital alchemist Pak. The Fungible is a pinnacle of creative technological experimentation through the lens of fine digital art. By leveraging blockchain technology and non-fungible tokens (NFTs), The Fungible not only provides collectors with novel assurances of scarcity and ownership, but exposes them to the unique features with which technology can endow artwork. Through this collection, Pak scrutinizes our understanding of value. What does value mean, and from where does it derive authority?

The Fungible started on April 12, 2021 and ended on April 14th, 2021. It was released in collaboration with Sotheby’s exclusively on Nifty Gateway, a marketplace specializing in the sale and auction of non-fungible tokens.

Following the sale, Pak announced on social media that purchasers of 'Cubes', from The Fungible collection would have the option to 'burn' their NFTs in exchange for a custom-made ERC20 cryptocurrency token, ASH. Furthermore, wallet holders of this newly devised token would be granted exclusive access to certain future Pak works, only available to purchase with the newly minted currency. In The Fungible Collection, Pak’s revolutionary use [or discovery/creation/invention] of digital alchemy challenges the psychology of ownership. Buyers have been forced to decide between keeping their original work or destroying it for future investment in Pak’s artistic journey. The so-called ‘Cubenomics’ epitomises how Pak cryptically engineers their work to generate ambiguity, discussion, and controversy. Pak’s art should rarely be taken at face value.

Current Cube holdings: 103

Current ASH holdings: 2,000