FIART

FFCs (Former•Fiat•Coins) & FNFs (Fungible•Not•Fungibles) are the first PFPs and rune tokens backed by the dual value-points of real-world assets: the precious-metal value of former fiat coins + their historical value, i.e., their total resale value at auction.

This opening collection of FNFs also establishes a rune token on the silver standard: the value of each of the five runes etched for this collection is equivalent to ~3g of silver. This value is backed by an actual deposit of silver in the form of five Roman denarii totaling ~15g of silver.

This collection includes real silver coins minted by Mark Antony, Julia Soaemia, & other Roman leaders.

Each FNF minter will receive, in addition to the ordinals, one rune backed by a silver deposit as described above and the documents confirming the historical authenticity and metals composition of the coin.

Ownership of the collection of the real-world coins (FFCs) will be maintained by Stable Labs. However, at the close of the collection’s minting, the entire collection will be lent to the American Numismatic Society in New York City, or to a similar research archive or a public museum, for public access and scholarly research.

The art might not be beautiful (although we think it is), but the idea could be: to decentralize [former-]fiat and use it as the basis for the post-fiat, network-state economy. FIART may also be a reminder that manifestations of fungibility are abstractions of power that one day become non-fungible numismatic artifacts, jewelry, research objects, and collectibles, aka, FIART.

FIART is designed by Stable Labs, in partnership with Ordibooks, as the Labs’ first attempt at using Ordinals, runes & Bitcoin mining data to create stable and stable-ish coins directly onchain without any tethering to or need for fiat… well, for living fiat. This is an experiment, invest accordingly.