NFT Certificate of Authenticity
At your request, each Minnaar artwork can include a Certificate of Authenticity (COA) in the form of a Non-fungible Token (NFT) issued on the Liquid Network. This token can support the authenticity of the accompanying physical artwork. The NFT COA can help protect buyers and sellers when transacting between private parties.
If you do not have a NFT COA for your existing Minnaar artwork you can contact us to request authentication and issuance.
When trading in person, meet in a public and secure environment (like the lobby of your bank). Verify the Seller’s NFT COA by matching the Asset ID to the corresponding artwork catalogued at StevenMinnaar.com and have the Seller transfer it to your wallet along with the physical artwork in exchange for your payment.
To receive a NFT COA you will need a Liquid Wallet. I suggest Blockstream Green. Open your Liquid wallet to generate a Liquid Address to receive your NFT COA.
How to trade Minnaars from a distance:
Step 1: Purchaser and Seller agree to a sale and they document their agreement through email/text/etc.
Step 2: Seller transfers the NFT COA to the Purchaser – possession of which suggests the likelihood that the Seller has possession of the associated physical artwork (although this is not guaranteed!)
Step 3: Purchaser verifies the NFT COA Asset ID against the ID posted in the artwork description on StevenMinnaar.com
Step 4: Purchaser sends funds to Seller
Step 5: Seller sends physical artwork to Purchaser
Possible Remedies for transactions gone wrong:
Situation: Seller sends NFT COA but purchaser does not send payment in the agreed upon time frame
Remedy: Seller sends artwork to StevenMinnaar.com (with supporting documentation) for authentication and requests a re-issuance of the NFT COA which will cancel out the previous NFT COA
Situation: Seller sends NFT COA and receives payment but never sends the physical artwork
Remedy: Purchaser reports the Seller’s failure to deliver to StevenMinnaar.com along with supporting evidence. At the discretion of StevenMinnaar.com, a notation is made in the artwork description that is publicly catalogued at StevenMinnaar.com. This notation states that the artwork ownership is in dispute. The physical artwork will not be re-authenticated until the dispute is resolved. This should serve as a warning to a prospective purchaser of the physical artwork that there is an outstanding dispute and, of course, he will be unable to receive a NFT COA until that dispute is resolved.
There is always the possibility that a Seller may have obtained the NFT COA by hacking the true owner’s token wallet – so the greater risk is always on the buyer. Therefore you should always do your best to check and verify the reputation and/or identity of the seller before sending funds and make sure to check the cataloged artwork here on the website as any reported ownership disputes will be noted in the listing.