Videos of 888 pieces of the destroyed car are being auctioned off. Another 111 of these ‘non-fungible tokens‘, or NFTs, will remain in the hands of the artist team and will be used for a new project, according to Shl0ms. NFTs are digital certificates of authenticity for virtual objects secured via blockchain technology. With an NFT you can prove that a digital object is yours.
During the auction, which will take place later this week, the price of the NFTs will start at about 0.01 Ether, or 26 dollars (23 euros).
The Shl0ms team blew up the used Lamborghini Huracan in a desert area in the United States on Feb. It concerns a car with a value between 200,000 and 300,000 dollars (ie between 178,000 and 268,000 euros). A team of about 100 people helped according to website fortune with the Lamborghini explosion and the creation of the NFT collection consisting of a total of 999 pieces.
Critics, meanwhile, have called it “hypocritical” to use the Lamborghini destruction as a statement against greed and then sell NFTs of it.
But Shl0ms told Fortune that a majority of the proceeds will go to public art installations, something that can’t really be verified until after the auction. That auction was originally scheduled for Friday, but has been postponed to an undisclosed date due to recent global circumstances.