Neutral is a 1/1 physical artwork, #7 in the public//private series by ripcache. The artwork comprises a physical artwork and a corresponding digital artwork NFT. ripcache’s neutral requires its collector(s) to make a decision: whether to scratch away the physical artwork in the area that contains the Ethereum private key, and unlock access to the digital artwork.
When will the co-owners vote to scratch?
The voting will be available as soon as Particles are revealed (shortly after they sell out), but its effect won’t trigger a scratch, until the 1 year lock up set by the artist has ended.
Voting before the 1 year lock up expires, will signal your desire to scratch or not scratch at the end of the lock up period.
That signal will be expressed by a change in the Particle image. A version for scratching and a version for not scratching, both designed by the artist.
Can you explain the voting mechanics?
Particle has built on-chain voting, allowing holders to vote for decisions on the blockchain, after the 1 year lock up.
The voting will be made available following a 1 year lock up, at the artist’s request.
Votes are counted on a per particle basis. One particle, one vote.
Votes are indicative of intent, but only trigger the scratch after a 12 month period, as per the artists’ request.
To vote to scratch the artwork, you must toggle “scratch” on the collection page.
The holders can toggle “scratch” or “not scratch” at any point during ownership.
There will be a notification 1 week prior to the decision date.
A minimum quorum of 50%, and a majority of 51% triggers the scratching event.
If the co-ownership decides to scratch the artwork, there will be an in real life scratching event, where co-owners are invited to manually scratch the physical artwork.
If the scratch happens, the corresponding digital artwork will be unlocked.
Once unlocked, the digital version of neutral will be sent to the Particle Foundation’s wallet for custody. All collectors will be airdropped a particle representing ownership in the digital artwork, therefore owning two particles: one for the physical artwork and one for the digital.
Should the digital or physical artwork be sold in the future, the co-ownership will be able to burn the Particle to claim their funds for the corresponding sale.
How will the IRL scratching work?
If the co-ownership decides to scratch the artwork, they will be able to vote on a location for the physical event.
All particle collectors are invited to participate in the real life scratching event (with your metal scratch cards).
The physical artwork will then be scratched to reveal the secret key, thus unlocking the digital artwork.
We will ensure that the secret key remains safe.
If you’d like to collect a ripcache particle, you can do so here.
