Labuan, Malaysia, July 19, 2021 — Abdullah Qandeel, a Saudi Arabian creator, goes live today with his artist-approved physical (AP-T) and digital nonfungible tokens (AD-T), which marries physical and digital assets together in one token for the first time. This can only be minted by the original creator of the creation as announced in his white paper “The AP/AD Token Standard,” co-written by Alex Alexandrov.
Qandeel’s first AP-Ts and AD-Ts are exclusively available on the decentralized exchange platform, ChilliSwap. He combines the worlds of art and blockchain by making his unique abstract creations available on the new and upgraded ChilliSwap platform.
The first creation, which was minted under the new AP/AD standard, is an AP-T of “Ambition Man.” Being an AP-T, the token is a marriage of physical and digital aspects of the creation, the intellectual property to which is embedded in the token itself.
– Ambition Man
The physical aspect of the token is an oil on canvas painting that measures 60 inches by 40 inches. In addition, the AP-T includes the rights to a unique one-minute video based on the “Ambition Man” artwork.
The AP/AD standard allows for the tokenization of creative energy. Any creation can be minted as either an AP-T or AD-T, including paintings, music, sculpture, drawings and videos, among others.
Unlike the usual tokens currently available in the market, tokens minted under the AP/AD standard are superior in safeguarding both the creator’s and collector’s interests because they have three unique features:
- The IP rights to the creation being tokenized are embedded in the token itself and passed on to the collector.
- Tokens minted under the AP/AD standard ensure the equitable remuneration of the original creator through an enhanced royalty system.
- The standard allows creators to tailor conditions of use in relation to the transfer of rights to the collector in customized terms of use.
About Abdullah Qandeel
Abdullah Qandeel is a 33-year-old Saudi Arabian artist who creates abstract paintings with the bold use of colors and lining.
Qandeel is a dedicated creator, as well as an ambitious, politically and culturally aware citizen of the world. His first creation, which was minted under the AP/AD standard, is now available for purchase on ChilliSwap. Please visit the site to see his innovative art.
About ChilliSwap
ChilliSwap is a DEX platform and ecosystem for users to trade tokens, yield, farm or stake, and is also the world’s only AP-T and AD-T marketplace. It is a multichain, decentralized platform that allows users to stake on Ethereum and the Binance Smart Chain without requiring a single owner or operator. ChilliSwap facilitates peer-to-peer Bitcoin (BTC) transfers while enforcing strict security rules. DEXs exist to address issues caused by centralized exchanges such as price manipulation, phony trade volumes and much more.
To learn more, visit ChilliSwap’s website.