“Looking back on this in one year, two year, three years from now it could be a monumentally dumb decision but it also could be a great decision,” said Dan Markham.
Dan Markham, the creator of the seven-million subscriber What’s Inside YouTube channel, has traded his Tesla Roadster for a single nonfungible token (NFT).
In a Sept. 15 video on his What’s Inside Family channel, Markham exchanged a blue Tesla Roadster — which he estimated could be worth “a quarter-million dollars pretty soon” — for a nonfungible token of a “positive porcupine.” The NFT was a creation of the VeeFriends project and owned by Eli Burton, the artist behind The Adventures of Starman graphic novel.
“Looking back on this in one year, two year, three years from now it could be a monumentally dumb decision but it also could be a great decision,” said Markham. “I think these cars have a lot of value for a long time and I do believe in NFTs.”
The YouTuber added:
“It's a picture for a car — clearly he's getting the better end of this deal.”
Burton said he had originally been reaching to sell the digital art for quite $100,000 before learning of Markham’s supply. in keeping with the graphic writer, trading the NFT for the automobile was “as simple as supply and demand,” as there have been 10,000 of the tokens presently offered and every valued for a beginning worth of $60,000. VeeFriends lists 40 similar porcupines in a very kind of backgrounds.
“There's almost no difference as far as the money perspective goes by having it –whether it's in a collectible car or a collectible NFT — it's still collectible,” said Markham.
Though the 2 collectors swapped the NFT on the blockchain, the trade was distributed for the most part within the world, with Markham physically handing Burton the paper title and key to the Tesla. The hedgehog is presently listed on OpenSea with a high bid of 16.339 Wrapped Ether (WETH) — roughly $56,445 at the time of publication — but Markham hinted that he planned to stay the NFT to realize admission to an exclusive conference for VeeFriends token holders.
Some crypto users have conjointly been experimenting with linking NFTs to physical collectibles. In July, an enterpriser launched simultaneous auctions for a job application from Apple co-founder Steve Jobs Associate in Nursingd an NFT of a similar. The physical paper ended up selling for $343,000, whereas the ultimate bid for the NFT was 12 Ether (ETH), or roughly $27,460 at the time.