A non-fungible token (NFT) representing artwork by the digital artist Beeple has fetched $777,777 at an auction after an investor made a last-second bid.
NFT marketplace Nifty Gateway facilitated the event that witnessed investors Tim Kang and another psuedonymous bidder named Metakovan locked in a bidding war for Beeple’s single collection of digital art.
Metkovan pushed the price to as high as $380,000 before Kang, who also goes by the name illestrater, made a last-second bid to the tune of $777,777.
THIS SAVAGE JUST BID $777,777 WITH LITERALLY 1 SECOND LEFT
— Nifty Gateway (@niftygateway) December 13, 2020
Dubbed as The Complete MF Collection, the NFT-based artwork is a series of images inspired by nature, technology and Star Wars.
The Complete MF Collection comes with a physical token that features a signed and numbered titanium backplate containing hidden markers to prove authenticity. The NFT is also packaged with a certificate of ownership, cleaning cloth, as well as an authentic Beeple hair sample.
Beeple says that while the winning bidder can sell the physical token and the NFT separately, he doesn’t recommend it.
“Ok so after I ship you the physical token I obviously can’t stop you from splitting up the physical token and NFT but I can assure [you] it will make both of them less valuable.
They are meant to augment each other and to me, it’s like cutting a baseball card in half and trying to sell the pieces. Nobody can stop you from doing it, but it kinda makes both pieces worthless.”
244 Interactions, 4 today