In Thailand, NFT good luck charms launch with sights set on Buddhist amulet market
- The founder of ‘CryptoAmulets’ hopes to cash in on Thailand’s widespread practice of collecting talismans blessed by revered monks
- One of the biggest challenges was trying to explain the concept of non-fungible tokens to the 95-year-old abbot asked to bless them
Karmic fortune has arrived in the digital art market, with a kaleidoscopic splash of colours and the face of a revered Thai monk offering portable Buddhist good luck charms to tech-savvy buyers.
Sales of non-fungible tokens (NFTs) – virtual images of anything from popular internet memes to original artwork – have swept the art world in recent months, with some fetching millions of US dollars at major auction houses.
“CryptoAmulets” is the latest venture to chase the craze, with founder Ekkaphong Khemthong sensing opportunity in Thailand’s widespread practice of collecting talismans blessed by revered monks.
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“I am an amulet collector and I was thinking about how I could introduce amulets to foreigners and to the world,” he said.
Their value can rise thousands of dollars if blessed by a well-respected monk.
Despite being a digital format, Ekkapong wanted CryptoAmulets to have the same traditional ceremony as a physical piece, which is why he approached Luang Pu Heng, a highly regarded abbot from Thailand’s northeast.