Ethereum core contributors and the two actors of the advertisement established Protocol Guild, a collective financing mechanism, to receive the proceeds from the NFT mints.
Bitwise, a digital asset manager, announced the release of its inaugural spot Ether exchange-traded fund commercial on Thursday. This advertisement enables non-fungible token (NFT) enthusiasts to mint the 39-second film on Ethereum.
Bitwise confirmed in a June 20 X post that it had minted the first national TV commercial as an NFT, thereby capturing a piece of crypto history.
Apparently drawing inspiration from an Apple advertisement from the early 2000s that contrasted Mac computer devices with PCs, Bitwise themed the advertisement on Ethereum, operating 24/7 while “big finance” is asleep.
A dialogue between a younger man who is casually dressed and represents Ethereum and an older man in a nightgown with business apparel underneath (representing “Big inance”) who is hopping into bed at the close of trading hours is the subject of the Bitwise advertisement.
Big Finance is rather proud to say, “You would also want a little shut-eye if you’ve been moving billions around the globe.”
The Ethereum fellow responds, “Actually, I do.” “Stablecoins, NFTs, and loans are available to individuals at all hours […], but it is important to remember that everyone is unique.” As he tucks “Big Finance” into bed, he says, “You should get some slumber.”
Bitwise characterized the advertisement as a “piece of history.” Zora Network, an Ethereum layer-2 solution that prioritizes artists and brands, has generated 1,198 mints of the 39-second clip thus far from 530 distinct minters.
Protocol Guild, a collective funding mechanism established by Ethereum core contributors, will receive 50% of the NFT proceeds, as per Bitwise.
The two actors of the advertisement, Jamie Kaler and Michael Tacconi, will receive the remaining 50%. Protocol Guild, Kaler, and Tacconi have collectively received $1,865 or 0.53 Ether from the NFT mint thus far.
On May 23, the United States Securities and Exchange Commission authorized the 19b-4 applications of Bitwise and seven other firms to list spot Ether ETFs.
In order to incorporate a prospective $100 million investment into the Bitwise Ethereum ETF upon its trading launch, Bitwise amended its S-1 registration statement on June 18.
Prior to the Ether products’ launch, the SEC must authorize the final filing, known as S-1s. Eric Balchunas, an analyst for Bloomberg ETFs, has suggested that they may commence operations as early as July 2.
Within an hour of the SEC’s approval of the 19b-4 filings, VanEck unveiled its own spot Ether ETF advertisement.
Also Read: U.S. Court Filings Reveal Montenegro’s Prime Minister’s Interest in Failed
