May 24—SPRINGFIELD TOWNSHIP — As Wendell August Forge approaches its 100th anniversary, the company is delving into the world of digital artwork.
"It really is the new and upcoming collectible," said Will Knecht, president of the Springfield Township-based metal giftware company.
The Wendell August Forge NFT collection will launch on June 16, and there are already hundreds of people on the wait list.
An NFT, or non-fungible token, is a unique digital asset that can be bought and sold, sometimes going up in value.
A virtual version of the forge's well-known ornaments costs $100 for one token. Buying one of the tokens is a claim of ownership of digital art, Knecht said.
The concept has been growing in popularity with younger consumers. Knecht looked into it further after reading about the Winklevoss twins and their move into cryptocurrency.
Cameron and Tyler Winklevoss — whose father grew up in Mercer — battled Mark Zuckerberg in court, claiming that he had stolen their idea for Facebook.
Knecht was intrigued by the NFT idea, thinking about how Wendell August Forge already produces collectibles.
"The old and the new are coming together," he said.
There's been great feedback so far and he is excited for the company to be on the leading edge of this digital movement.
The forge's first NFT offering is inspired by the company's annual ornament; this year's design features a cozy winter scene.
The NFT will be a 3D image that can be spun around, and it will include key elements of the annual ornament.
"It was created to look like a snowglobe," he said, noting that the design is under wraps until launch day.
The NFT ornaments will be limited to 5,000, each one with a different serial number and varying "rarity traits."
Those who buy the token will receive a commemorative coin — a physical piece that is representative of the project.
The tokens can be purchased online using cryptocurrency or a credit card. Those on the wait list will have a chance to receive one of 10 rare NFT ornaments.
And anyone who buys this first token from the forge will have first priority on future projects.
Knecht doesn't see this being a one-time thing, though it will never replace the metal giftware.
"That's what we do," he said.
There has been a lot of ups and downs in the cryptocurrency and NFT markets in recent months, but that's not unusual, he said.
Also looking ahead: the company will mark its 100th anniversary in early 2022 with a celebration.
"We do want to honor the community and thank them," he said.
FOR MORE information about Wendell August Forge, visit the flagship store at 2074 Leesburg-Grove City Road, Springfield Township; call 724-748-9501; or visit wendellaugust.com