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5 Nov 2014
Total supply: 300 (originally there were 600 but 300 were destroyed in block 708,708)
Creator: Paul Schmitzer
"Umbrella is the Unisocks of Bitcoin".
UMBRELLA is a historic Counterparty token issued in November 2014.
Its initial purpose was to raise funds for a promotional Bitcoin scheme devised by a Bitcointalk user.
Each of the 600 UMBRELLA tokens was to represent a pre-order and later be redeemed for a physical umbrella adorned with the Bitcoin logo.
It was the first time a token was issued on the Bitcoin blockchain as part of a plan to deliver a physical product. Token first, then creation of the physical asset
The 600 original token supply was chosen because that was the minimum order from the manufacturer. The UMBRELLA asset would be pegged to the Bitcoin umbrellas 1:1 and eventually exchanged for the real thing.
7 years on from the promotional scheme, the token issuer updated the asset with an original Bitcoin umbrella artwork. This historic token is a reminder of Bitcoin's early years and the earliest tokenized asset in existence. There are now just 300/600 in circulation.
UMBRELLA might become even more of a traditional NFT once it is pegged to its physical umbrella.
It is the first "phygital" NFT and "the UMBRELLA model" might be the reference going forward regarding tokenization of any kind. of physical asset.
The Bitcointalk forum
The Bitcointalk forum is a key part of the origin story of crypto, as the forum was created by Satoshi Nakamoto. Thus, UMBRELLA’s presence in the original Bitcointalk forum is integral to the provenance of the asset and its art.
Included in this early presence is the initial image for UMBRELLA. It is immortalized on the Bitcointalk forum, and was used to create the newly issued image.
UMBRELLA is an example of this, and now, along with the revival of the token, all these years later the creator’s vision is being fulfilled.
Counterparty (XCP) offers creators the ability to alter the metadata of their tokens, such as by changing descriptions and images. This function of XCP delivers a unique contribution to the NFT space.
This Lot Includes:
UMBRELLA X 1
- 600 issued, 300 destroyed, 300 supply
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