- Rug Pull, an NFT art experiment, will reward one NFT auction winners with a bitcoin stored inside their NFT
- 12 NFTs have been created with only one containing the bitcoin, but if just one person checks their NFT then the contents of every NFT wallet will be revealed
- Creators SuperMassive hope that auction winners will play along and keep the guessing game going
Do you fancy winning a bitcoin through a piece of artwork? The Rug Pull NFT experiment could make that a possibility…but it’s not that simple. Created by art collective SuperMassive in conjunction with Meme protocol, Rug Pull aims to see whether the temptation of potentially winning a bitcoin can be overridden by the knowledge that just the act of finding out will pull the rug on the entire experiment.
With Great Power Comes Great Responsibility
Rug Pull is an NFT/art/human experiment created by artist Simon Wan and writer/director Robin Schmidt. Working together as SuperMassive they have teamed up with NFT creator Meme protocol to produce Rug Pull, which asks one question – “in a digital world of infinite iteration, instant delivery and reckless imitation, what will happen to art?”
Announcing: The Rug Pull
12 NFTs up for auction. Only 1 contains a BTC.
Only the owners can choose expose their fortune.
Will you take the risk and look inside?
The whole world is watching.
— $MEME (@DontBuyMeme) November 20, 2020
Schmidt, Wan, and Meme protocol hope to get at least a partial answer to this question with Rug Pull, an experiment that will reward one NFT holder with a bitcoin at the expense of all other holders. 12 identical pieces of NFT artwork have been created by SuperMassive, one of which contains a bitcoin, and there is nothing stopping the auction winners feverishly tearing into their NFT artwork to see if they are the winner of the golden ticket.
However, what will hopefully hold them back is the knowledge that the moment one of the wallets behind the NFT is opened up, so is every other one, revealing which NFT is holding the bitcoin, thus pulling the rug on the experiment.
Schmidt told FullyCrypto that he hopes that those buying the NFTs are doing so because they want to see the experiment succeed and run for as long as possible:
The goal is to make it more valuable for participants not to take the Bitcoin and instead elevate the value of the art and work with each other and the artist to create that value so that nobody feels tempted to look inside and potentially ruin it for everyone.
Would You Rug Pull?
The 12 NFTs all feature the same image of Alfred Hitchcock peering at you through a magnifying glass with the word ‘REKT’ underneath. However, this image is only revealed once the wallet’s contents have been exposed – before that it takes the form of “constantly shifting animation of swirling colors and textures.”
The NFTs are being auctioned off through the Meme website, starting today, and it will be fascinating to see what prices they fetch.
The question is, if you got hold of one, would you leave it alone or would you rug pull?