Pua's 'Langkah Sheraton' painting now an NFT project

Damansara MP Tony Pua’s “Langkah Sheraton” painting is now an NFT (non-fungible token) project to generate funds for DAP’s next general election campaign.

At the soft launch of the project today, Pua, who turned 50 today, said he was gifting his 121cm by 152cm oil on canvas painting to the party.

Pua began working on this piece when movement controls were imposed in 2020 and after the “Sheraton Move” that caused the collapse of the Pakatan Harapan federal government.

This artwork featured 15 very recognisable political personalities, mostly in faux renaissance poses. Upon completing the piece last year, it was displayed at Theatre Impian.

“It took me a fairly long time to figure out the best approach to ‘sell’ the painting to raise funds for the party.

“A typical art sale would be through an auction. Perhaps a taukeh will buy it for a few thousand and often see a painting will be stored in a collector’s private gallery or storeroom, while no government-owned gallery would acquire such a ‘sensitive’ or controversial piece, even if it was of historical import,” he said.

Eventually, Pua chose to “sell” the painting as an NFT so that it could be meaningfully owned collectively among thousands of Malaysians.

“Via the rapidly developing NFT platforms, it could unlock a higher value and hence raise more funds for the party and the cause,” he said.

According to the project website, all proceeds from the project will go towards DAP’s campaign funds.

When the “Langkah Sheraton” NFTs are traded, eight percent of the transacted price will be paid as “royalty”, of which half will be paid to DAP.

Only 8,888 NFTs will be minted for this project. Each NFT will cost 45 Matic (RM186 at the time of writing) when the NFT is for sale to the general public on Aug 31 and will close on Sept 16.

Pua urged those who wish to view the artwork to visit Theatre Impian, where the piece will remain until the new owners decide otherwise.

In thanking Pua for his latest fundraising effort, DAP secretary-general Anthony Loke said the “Langkah Sheraton” painting was important because it would educate future generations on a black mark in Malaysia’s history. - Mkini