THE RFT ARCHIVE
The Real Fungible Token Archive
A documented collection of original photographic masters, preserving the connection between the physical object, its provenance, its creator, and the history that follows it.
ABOUT THE ARCHIVE
A Permanent Record of the Original
The RFT Archive documents each original photographic master from the moment it enters the Real Fungible Token system. Each record preserves the identity of the physical object, its known provenance, physical characteristics, creator, and ownership history as the RFT passes from one collector to the next.
THE PHYSICAL OBJECT
Each archive record identifies the specific original photographic master at the center of the RFT, including its medium, format, date, and distinguishing physical characteristics.
DOCUMENTED PROVENANCE
Each record preserves the known history of the photographic master, including its creation, custody, documentation, and subsequent transfers of ownership.
CONTINUING RECORD
The archive record continues as ownership changes. Each documented transfer becomes part of the history of the physical master, preserving continuity between the original object, its creator, and the collectors who become part of its story.
THE FOUNDING RFTs
The first three Real Fungible Tokens were created with a purpose beyond the work itself. They are not being offered as ordinary works for sale. Each is being held for a collector prepared to acquire the RFT at a level capable of creating meaningful support for the cause connected to its creation. The intention is not simply to find a buyer. It is to find a collector who wants to participate in what the work was created to accomplish.
THE ARCHIVE
Documented Photographic Masters
Each entry in the RFT Archive documents a specific original photographic master and the record connected to it. Explore the individual records to see the physical object, its known provenance, identifying characteristics, and its place within the Real Fungible Token Archive.
RFT #1
Spire Over the Seine
Paris, France
Original Photographic Negative
WHY THIS BECAME AN RFT
The Real Fungible Token began with a question following the 2019 fire at Notre-Dame Cathedral: could an original photograph of the spire be used to help fund the rebuilding of the spire itself?
Spire Over the Seine became RFT #1 as we explored that possibility and entered discussions about putting the photograph to work for that purpose.
The work is being held for a collector who shares that intent and is prepared to make an acquisition capable of providing meaningful support for the preservation of the knowledge and craftsmanship behind this extraordinary reconstruction story, including the work represented by Guédelon.
PHYSICAL MASTER STATUS
Original negative identified • Documented • Archived
Spire Over the Seine became the first photographic master designated as a Real Fungible Token. The original negative anchors the RFT to the physical photographic object from which the image originates.
RFT #2
Exodus
Kodak Black & White HIE • 35mm Negative
Loire Valley, France • 2014
Original Kodak HIE High Speed Infrared Negative
PHYSICAL MASTER STATUS
Original negative identified • Documented • Archived
Exodus became the second photographic master designated as a Real Fungible Token. Its original physical master anchors the RFT to the photographic object from which the image originates and preserves its place in the continuing history of the Real Fungible Token project.
WHY THIS BECAME AN RFT
While discussions surrounding RFT #1 were underway, Russia's invasion of Ukraine created an immediate humanitarian crisis.
We selected Exodus, photographed in France in 2014, as RFT #2 with the intention of using the work to benefit Ukrainian refugees. That purpose remains.
RFT #2 is being held for a collector who wants their acquisition to do more than transfer ownership of an important photographic master. The intention is for the transaction itself to provide meaningful support connected to the people displaced by the continuing war.
RFT #3
Jerry Garcia - Iko Iko
The Omni • Atlanta, Georgia • 1995
Original Fuji Super G ISO 800 Negative
WHY THIS BECAME AN RFT
Jerry Garcia ATL 1995 became RFT #3 with the intention of using the work to support programs serving young people aging out of foster care.
Unlike a single historical event, this need does not end. Young people continue to leave foster care and face the transition into adulthood without the support systems many others take for granted.
RFT #3 is being held for a collector who wants to participate in that purpose and whose acquisition can provide meaningful support for programs helping these young adults build their next chapter.
PHYSICAL MASTER STATUS
Original negative identified • Documented • Archived
Jerry Garcia ATL 1995 became the third photographic master designated as a Real Fungible Token. Photographed during the Grateful Dead’s 1995 Spring Tour in Atlanta, the original negative preserves the physical source of an image with a deeply personal connection to the beginnings of the RFT project.
RFT #4
Memorial Garden, Christ Church
Kodak HIE • 4 × 5 Original Negative
St. Simons Island, Georgia • July 1997
Original 4 × 5 Kodak High Speed Infrared (HIE) Negative
WHY THIS BECAME AN RFT
RFT #4 marks a new chapter in the development of the Real Fungible Token. The first three RFTs were created with specific charitable purposes.
Memorial Garden, Christ Church was selected to demonstrate the RFT model itself: how a significant original photographic master can be documented, connected to defined productive rights, and carried forward through a continuing record of ownership and provenance.
Created on 4 × 5 Kodak High Speed Infrared film in 1997, this negative has remained in the Karen Images archive since its creation. Its physical character, photographic history, and connection to our early large-format work made it an ideal master with which to establish the next generation of the RFT.
PHYSICAL MASTER STATUS
Original negative identified • Documented • Archived
Memorial Garden, Christ Church is the fourth photographic master designated as a Real Fungible Token. Created on 4 × 5 Kodak High Speed Infrared film, the original negative has remained in the Karen Images archive since its creation and processing in 1997.
RFT #5
Christ Church
Kodak HIE • 4 × 5 Original Negative
St. Simons Island, Georgia • July 1997
Original 4 × 5 Kodak High Speed Infrared (HIE) Negative
WHY THIS BECAME AN RFT
RFT #5 continues the exploration begun with RFT #4: how an original photographic master can become the foundation of a distinct ownership structure.
Christ Church was photographed on 4 × 5 Kodak High Speed Infrared film in July 1997. The original negative has remained in the Karen Images archive since its creation and processing.
RFT #5 demonstrates how another singular physical master from the same historic body of work can be individually documented, transferred with defined rights, and carried forward with its own record of ownership and provenance.
PHYSICAL MASTER STATUS
Original negative identified • Documented • Archived
Christ Church is the fifth photographic master designated as a Real Fungible Token. Created on 4 × 5 Kodak High Speed Infrared film in July 1997, the original negative has remained in the Karen Images archive since its creation and processing.
VIEW RFT #5 RECORD
BEYOND THIS ARCHIVE
An RFT Is a Structure, Not a Medium
The first entries in the RFT Archive originate with Karen Images, but the Real Fungible Token model is not limited to Karen Images, photography, or any single artistic medium.
An RFT can only originate with the creator of a work. The creator establishes the RFT by connecting an identifiable original physical work or master with its provenance and the defined rights that will accompany it through future ownership.
MINTED BY THE CREATOR
An RFT cannot be created simply by acquiring an existing work. It originates with the creator, who establishes the relationship between the physical original, its provenance, and the rights that become part of the RFT.
PRODUCTIVE DURING OWNERSHIP
The current collector may exercise the rights established by the RFT, including authorized commercial licensing. Individual licenses may run for no more than one year and may be renewed only in additional one-year increments.
THE HISTORY CONTINUES
Material uses and commercial licenses become part of the continuing record of the RFT. When ownership changes, the next collector receives the original together with the history created before them, while the private economic terms of the transfer remain a matter between buyer and seller.
The RFT Archive begins with Karen Images. The model does not end there.
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