Lil Yachty Collectible Fetches $16K in Latest String of High-Profile NFT Auctions

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Lil Yachty(Paras Griffin/Getty Images)

Continuing a trend of splashy non-fungible token (NFT) auctions in recent days, rapper Lil Yachty has sold a digital collectible for $16,050.

The lucky winner is “westcoastbill” – a user who appears to have sniped Tyler Winklevoss by $50 at the last minute. Winklevoss, a “bitcoin billionaire,” is the owner of the NFT marketplace on which the “YachtyCoin” was auctioned.

The NFT auction on Nifty Gateway follows a Lil Yachty social token sale on Fyooz last week that raised approximately $276,000 for the Atlanta-born rapper.

A Nifty Gateway spokesperson confirmed that Wednesday’s winning bid went to Bill Lee, a general partner at early-stage VC firm Craft Ventures.

Gemini acquired Nifty Gateway in late 2019 with Tyler Winklevoss saying in a statement at the time, “We believe that both real-world and digital collectibles will migrate onto blockchains in the form of nifties.” NFTs are provably unique digital collectibles whose provenance is tracked on the blockchain, typically Ethereum.

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Earlier this week, digital artist Beeple sold a collection of NFTs on Nifty Gateway for a whopping $3.5 million. A Sean Lennon piece recently sold for $3,000.

Such are the prerogatives of the crypto-rich.

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