If you're confused by NFTs don't expect to find any relief in Wes Lang's new line of digital collectibles. Dubbed "F.A.T."s by his partner, Project MIDAS, Lang's NFTs purport to offer collectors a more concrete piece of the art world pie.

Backed by some tastemaking investors, Project MIDAS bills itself as "premium asset management using blockchain technology" and specializes in something called a C.A.T., a "Certified Asset Title." These C.A.T.s are basically authenticity certificates tied to the blockchain, which establish pedigree for luxury goods from the manufacturing process down to each point of sale.

Project MIDAS also creates F.A.T.s, or Fractionalized Asset Titles, which slice up expensive assets into more affordable pieces.

The practice of fractional art ownership is relatively old hat for the art biz, with companies like Masterworks, Artsquare, and Artopolie already providing similar services but Project MIDAS distinguishes itself by being entirely blockchain-centric.

In a sense, F.A.T.s are a heightened NFT, similarly partitioned but distinct in that Project MIDAS promises ample benefits.

For instance, everyone who's owned an NFT earns a share of royalties in perpetuity when that digital work is sold; Project MIDAS' F.A.T.s are tied to physical artworks and their real-world sales will benefit all investors.

American artist and former Ye collaborator Wes Lang is the first major artist to jump into MIDAS' world, parceling out three of his signature Americana-steeped artworks for the debut offering.

With shares ranging in price from $350 to $900, the Wes Lang F.A.T.s — limited to 100, up to 25% of each piece — are relatively affordable considering that even Lang's screenprinted editions can go for over $1,000 at auction. Buyers will actually receive stake in Lang's original compositions and they can get in with their credit cards, no digital wallet required.

MIDAS will retain majority stake in the works as it manages the "Wes Lang Metaverse" which is a pretty funny combination of words. Really, anything + "Metaverse" will take some getting used to but, hey.

Wes Lang F.A.T. owners will also enjoy early access to future Lang NFT offerings, physical merch drops, and a series of monthly Airdrops of "new and animated digital" iterations of the art they've purchased, though the big prize is a guaranteed chunk of the real artworks' sale price.

Complicated enough? Visit Project MIDAS' website for the full briefing and to RSVP for an in-person "minting" experience at BAIT's Los Angeles store that goes down on December 28, where any lingering questions can be sorted out.

What To Read Next

*If you submitted your e-mail address and placed an order, we may use your e-mail address to inform you regularly about similar products without prior explicit consent. You can object to the use of your e-mail address for this purpose at any time without incurring any costs other than the transmission costs according to the basic tariffs. Each newsletter contains an unsubscribe link. Alternatively, you can object to receiving the newsletter at any time by sending an e-mail to info@highsnobiety.com

Web Accessibility Statement

Titelmedia (Highsnobiety), is committed to facilitating and improving the accessibility and usability of its Website, www.highsnobiety.com. Titelmedia strives to ensure that its Website services and content are accessible to persons with disabilities including users of screen reader technology. To accomplish this, Titelmedia has engaged UsableNet Inc, a leading web accessibility consultant to help test, remediate and maintain our Website in-line with the Web Content Accessibility Guidelines (WCAG), which also bring the Website into conformance with the Americans with Disabilities Act of 1990.

Disclaimer

Please be aware that our efforts to maintain accessibility and usability are ongoing. While we strive to make the Website as accessible as possible some issues can be encountered by different assistive technology as the range of assistive technology is wide and varied.

Contact Us

If, at any time, you have specific questions or concerns about the accessibility of any particular webpage on this Website, please contact us at accessibility@highsnobiety.com, +49 (0)30 235 908 500. If you do encounter an accessibility issue, please be sure to specify the web page and nature of the issue in your email and/or phone call, and we will make all reasonable efforts to make that page or the information contained therein accessible for you.