BANGKOK: A kaleidoscope splash of colors and the face of a respected Thai monk offer portable Buddhist good luck charms to tech-savvy purchasers, bringing karmic success to the digital art market. In recent months, sales of non-fungible tokens (NFTs), which are virtual reproductions of everything from popular internet memes to real artwork, have swept the art world, with some fetching millions of dollars at prominent auction houses.
“CryptoAmulets” is the latest company to jump on the bandwagon, with founder Ekkaphong Khemthong seeing potential in Thailand’s traditional practice of collecting talismans blessed by respected monks.
“I’m an amulet collector,” he told AFP, “and I was thinking about how I might present amulets to foreigners and the rest of the world.”
In Buddhist-majority Thailand, collecting amulets and other small religious trinkets is a common activity, with a market dedicated completely to the merchants of these auspicious things in the capital Bangkok.
If blessed by a revered monk, they can be worth thousands of dollars.
If blessed by a revered monk, Buddhist amulets and other religious items can be worth thousands of dollars. Mladen ANTONOV/AFP
Despite the fact that CryptoAmulets are digital, Ekkapong wanted them to have the same traditional ceremony as actual pieces, which is why he sought Luang Pu Heng, a well-known abbot from Thailand’s northeast.
“I appreciate this monk, and I’d like the rest of the world to know about him – he’s a symbol of business success,” he remarked.
ORIGINAL AND BLESSED
Luang Pu Heng officiated at a ceremony last month to bless tangible duplicates of the digital amulets, which depict a tranquil image of his face.
As his saffron-robed pupils chanted and spread yellow petals on the altar where the images were hung, he splashed holy water upon his own face.
One of the difficulties was explaining NFTs to the 95-year-old abbot, who expected he’d be blessing tangible amulets.
“It’s quite difficult, so we just attempted to simplify it,” said Daye Chan, a Singaporean developer.
“It’s like blessing the images,” we told him.
“CryptoAmulets” is the newest company to try to cash in on the NFT art craze, with founder Ekkaphong Khemthong seeing potential in Thailand’s widespread practice of collecting talismans sanctified by respected monks. AFP/Daye CHAN/AFP/Daye CHAN/AFP/Daye CHAN
Transforming amulets into crypto art also eliminates the usual authenticity concerns that plague a talisman sold in a market, he added.
“There are so many amulets on the market… It’s possible that all of the records may be lost, and these physical goods will be easily counterfeited “Chan stated his opinion. NFTs use blockchain technology, which is an immutable digital ledger, to keep track of all transactions from the moment they are created. “Even a hundred years later, they may check the record to see what the blockchain is for our amulet,” Chan said. Founder Ekkaphong, on the other hand, refused to speculate on the karmic efficacy of digital amulets versus their physical equivalents. “They’re not the same,” he explained. “WONDERFUL EXPERIENCES” Different inscriptions in Thai – “wealthy,” “happy,” or “fortunate,” for example – are placed around each of the tokens on the CryptoAmulets website online gallery. They are presently selling for between US$46 and US$1,840 on a tiered basis in ethereum, the world’s second-largest cryptocurrency behind bitcoin. Only 1,500 tokens have been sold out of the 8,000 available ahead of Sunday’s deadline, with Thais accounting for the majority of purchasers.
CryptoAmulets are presently selling for between $46 and $1,840 on a tiered basis in ethereum, the world’s second-largest cryptocurrency behind bitcoin. AFP/Daye CHAN/AFP/Daye CHAN/AFP/Daye CHAN
Theerapong Lertsongkram, a Thai chef, claimed he purchased a CryptoAmulet out of respect for Luang Pu Heng’s blessed goods, which he claims have given him good fortune.
“I’ve had a few lucky moments, such as winning minor lottery wins… or getting promoted at work,” said Theerapong, who works in a restaurant in Stockholm.
“I had never heard of NFTs before, but I decided to buy it since I admire Luang Pu Heng so much,” he told AFP.
Wasan Sukjit, a fellow collector who has rare amulets adorning the interior of his taxi, has a tougher time grasping the concept.
He scoffed, “Amulets need to be something tactile, something people can hold.”
“I like the ones that I can wear around my neck.”/n
