Debbie Bonello is a local artist who recently created an oil painting. The painting includes a picture of a car with ETH mentioned on its number plate. But, in a ceremonial bonfire, the painting was set to fire. In the event of a ceremonial bonfire, multiple people took part including Bonello’s friend, family, and a certain member of the national and local Malta government.
Before the bonfire, the painting was turned into digital form under the law of Malta. Also, the ETH number plate will be going to auction off at the best bid. As per the news, photographer Matthew Mirabelli get the painting and other sketches converted into digital form. Later, the photographer minted the painting as an NFT. To produce it as a legal asset, Malta’s law firm is legally handling cases of drafting important terms and conditions for ease in overseeing transactions.
What will happen to NFT after the auction?
Once, the NFT will be set for auction whosoever will win the auction get hold of the ownership of the ETH number plate. Mamo TCV has confirmed the ownership of the number plate. Irrespective of whether a person has a car or not, if they bid for the highest amount then they will get the customized number plate.
Since Malta is considered to be the blockchain hub of Europe, so projects like ETH become possible. Such projects are possible with the help of Maltese law and origin. Malta government joined hands to declare ETH in Mellieha as legal.