Metarex is creating an NFT collection from an authentic private Tyrannosaurus rex fossil. They are revolutionizing fossil ownership in this way. As a result of the power of NFTs, they have been transferred from private to public hands.
Metarex is decentralizing the fossil trade industry in order to sell the physical T-rex. Meanwhile, the profits are used to place the relic in a museum for public viewing and academic research.
To begin, Metarex presents its whitepaper for the world’s first dinosaur-fossil NFT collection. The mission of the brand is to keep this historic artifact out of private hands and make it available to academies.
In particular, Metarex will launch 59,000 NFTs that will represent the bones of one of the 32 T-rex fossils discovered thus far. Because of the presence of smart contracts, the fossil, once purchased, is placed in the care of a museum. Paleontologists can begin their research here.
The reason for this is straightforward: T-rex Stan sold for nearly $32 million. This is significantly more than the initial $8.3 million sale in 1997. These exorbitant prices make it impossible for museums to compete. As a result of the power of blockchain technology, another one-of-a-kind solution to a suffocating problem emerges.
The 58,000 NFTs of individual bones, as well as the 1,000 NFTs of the entire T-rex, are 3D images of the actual fossil bones. Furthermore, each one grants its holder 0.10 percent ownership of one of the bones’ online IP rights.
Furthermore, the NFT sale will begin on December 7th on the Metarex platform, which allows purchases using MetaMask or any other Ethereum-based wallet after passing a KYC. Similarly, COO and Co-Founder — Edwin Mata states,
Given the scarcity of these fossils (there are only 32 Tyrannosaurus rex left in the world), we needed cutting-edge blockchain technology for the Metarex, but it’s a true story that began 66 million years ago. We can now connect the present, the past, and the future while decentralizing historical artifacts and making them available to the academic community and the rest of the world.
Meanwhile, CEO and Co-Founder Jeff Jaffrey believes they are creating the coolest thing to happen to the NFT world to date. “We’re uploading an actual Tyrannosaurus rex skeleton to the blockchain.”
“What child hasn’t dreamed of owning his own dinosaur?” he adds. He also mentions that this project is generating previously non-existent funding for the academic sector from the crypto world. Finally, he emphasizes that this is not just any NFT; it is history in the making! Finally, he invites and encourages everyone to join the NFT revolution.