Provenance Coins: Meme Coins Back By Culture
Narrative Watch 🚨 Discover Provenance Coins, blending meme coin appeal with verified origins, offering creators, investors, and enthusiasts a reliable, authentic fractionlized digital asset.
Recently, the stars aligned and we got a message from the illusive CryptoPathic and I wanted talk more about it. If you are unfamiliar with the “Provenance Coin” thesis you can refer to his tweet here, or my brief summary below.
Overview of Provenance Coins
What are Provenance Coins?
Provenance Coins are a new category of digital tokens designed to authenticate the history and origin of assets, particularly in the art and collectibles sphere. Leveraging blockchain technology, they aim to provide transparent and indisputable proof of provenance, addressing issues of authenticity and ownership.
Translation: Tradeable coins that are fractionalized on-chain assets like memes, NFTs or even tokenized RWA?
What do Provenance Coins do?
These coins ensure that the history of an asset, especially digital art and memes, is verifiable and permanently recorded on the blockchain. This addresses the problem of counterfeit or unverified assets. Provenance Coins also allow for fractional ownership of digital assets, making them more accessible to a broader audience.
Who benefits from them?
Creators of digital content, such as artists and meme creators, benefit significantly as these coins provide a mechanism to claim and profit from their creations, which often get replicated without credit. Investors and collectors also benefit from the authenticity and scarcity these coins offer, potentially leading to a higher value of assets. Additionally, broader communities around digital assets may find value in the transparent and authentic representation of their cultural symbols.
How do Provenance Coins differ from NFTs and other existing solutions?
While similar to NFTs in authenticating digital assets, Provenance Coins go further by combining the features of art-focused NFTs and the broader appeal of memecoins. They bring legitimacy and historical context to digital assets, which is often lacking in conventional memecoins. The concept of fractionalization also sets them apart, allowing shared ownership and a wider distribution compared to typical NFTs, which are often unique or limited in quantity. This approach aims to make digital assets more accessible and liquid, expanding their appeal beyond traditional NFT collectors to include a broader range of investors and enthusiasts.
I am looking to reach out to Path for further questions so stay tuned for more.
$NFD Fiesty Doge / Fiesty DAO example:
