Legendary Color Innovator Pantone Will Give Away Limited NFTs In Free Raffle

Known to artists and housewives as a color authority, Pantone has announced that it will celebrate the selection of PANTONE® 17-3938 for this year’s Color of the Year by releasing its first NFT collection through Instagram giveaways. ..

Featuring nine unique NFTs created by Paris-based digital artist Polygon 1993, this collection leverages Pantone’s “Very Peri” blue to create a lo-fi digital rendition that symbolizes the artist’s retro-futuristic style. And other scenes.

“When I first saw the PANTONE® 17-3938 Very Peri, I quickly returned to my childhood. The blue and red tones create a retro feel and incorporate the nostalgic effect of bringing people to the past. “It was,” explained Polygon 1993. “I was able to use digital tools to create new things that were derived from the old, but I made it new and futuristic.

The colors that Pantone describes as emphasizing “individual ingenuity and creativity” naturally fit into the company’s first foray into digital art. Blue shades evoke brilliance from computer screens, and Pantone even says that color undertones are “best rendered in high-definition screens and 3D.”

Notably, Pantone has abandoned the company’s norm of casting on the Ethereum blockchain and decided to use Tezos, which has repeatedly described it as “environmentally friendly.” In fact, while popular platforms such as OpenSea and Decentraland are driving Ethereum NFT’s dominance, rising gas prices and environmental concerns are driving the number of companies such as Gap.

GPS
, Ubisoft and Red Bull mint Tezos instead. Instead, the Proof-of-Stack consensus mechanism uses estimates. 26,000% Less energy From Ethereum. Switching to Tezos or other PoS networks can become more and more common as energy prices rise and companies seek to reduce costs (and earn good public relations).

Also noteworthy is the company’s decision to offer NFTs for free.Companies like Nike

NKE
Pantone’s expansion is in essence more brand-building, in line with much of the company’s strategy in the past, as it increasingly seeks to engage with NFTs as an additional source of revenue. Art is really intentional and is a color that follows the company’s description. Color Of The Year is Pantone’s most public event, where the decision not to monetize is important.

This can actually work very well for NFT collectors. This is due to the very limited quantity of releases combined with the reputation of Pantone’s strong brand, which can make each token very valuable. Digital collectors are constantly chasing NFT raffle FOMO after Beeple’s now iconic “5000-day” raffle turns a $ 1 raffle entry into a millionaire overnight.

However, as we saw when skin care brand Nivea launched the free NFT for “The Value of Touch,” company-sponsored art tends to fight headwinds compared to other art. Despite the moving message about the value of human touch to the visually impaired, and the beautiful design by the Italian artist, Clarissa Baldassarri’s artwork is currently only .0009 ETH (2.47 at the time of this publication). Worth a dollar). Again, there are 15,000 instead of nine.

This is Pantone’s first foray into NFT, but it may not be the last. According to Laurie Pressman, vice president of the Pantone Color Institute, Pantone “is always looking to the future … as clients spend more and more time in the digital world, recognizing the impact this has on the colors they are looking for. And the tools they need to design and communicate. ” It is not yet known how this will affect the resale price of Pantone Art.

Those interested in scooping up one of Pantone’s art only need a Tezos wallet and just follow the company’s Instagram page to reveal links to the first two NFTs at 12:00 EST today. Will be done. Three more will be released tomorrow at 7am EST on March 10th, and the last four will be festival attendees booked at the Tezos Experience at SXSW 2022 next week.

All online releases are made through Objkt, the largest Tezos NFT marketplace.