Photo: GMC
The first time I came across the term NFT was when I heard of the Charlie Bit My Finger Youtube video being sold as such. That piece of news would have zipped right past me if it weren’t for the sum it went for: $760,000. And that got me wondering what the hell an NFT is.
Expanded to full words, NFT stands for non-fungible token. That would be a piece of something that cannot be replaced, a one-of-a-kind thing whose existence in this world is tightly linked to the owner through blockchain. These digital things can be traded on third-party marketplaces or even sold, so they could increase in value.
In 2021, the year when NFTs really got going, we've seen various things being sold as such, from Youtube videos to all sorts of art forms, but as of this June, cars are joining the fray as well.
Next week, auction house Barrett-Jackson opens the doors to its Las Vegas auction, selling with no reserve a huge number of cars. Among them are four new ones, the very first in their respective families carrying the coveted VIN 001 tags, but not quite.
You see, back in March, during a similar event in Scottsdale, the auction house sold the very first examples of four exciting models for big bucks: the Ford Mustang Mach 1 ($500k), Ram 1500 TRX Launch Edition ($410k), Ford Bronco 2-Door ($1 million), and GMC Hummer EV Edition 1 ($2.5 million).
Next week, these cars’ NFTs will be on the stage, the first time in the history of world when such a thing happens.
Barrett-Jackson is selling the NFTs due to a partnership with digital collectibles marketplace Motoclub.io and blockchain company CurrencyWorks. There is no estimate on how much each NFT is expected to fetch, but given all the craze surrounding this concept, and provided car lovers know their way around blockchain technology, we expect the money literally to flow.
In 2021, the year when NFTs really got going, we've seen various things being sold as such, from Youtube videos to all sorts of art forms, but as of this June, cars are joining the fray as well.
Next week, auction house Barrett-Jackson opens the doors to its Las Vegas auction, selling with no reserve a huge number of cars. Among them are four new ones, the very first in their respective families carrying the coveted VIN 001 tags, but not quite.
You see, back in March, during a similar event in Scottsdale, the auction house sold the very first examples of four exciting models for big bucks: the Ford Mustang Mach 1 ($500k), Ram 1500 TRX Launch Edition ($410k), Ford Bronco 2-Door ($1 million), and GMC Hummer EV Edition 1 ($2.5 million).
Next week, these cars’ NFTs will be on the stage, the first time in the history of world when such a thing happens.
Barrett-Jackson is selling the NFTs due to a partnership with digital collectibles marketplace Motoclub.io and blockchain company CurrencyWorks. There is no estimate on how much each NFT is expected to fetch, but given all the craze surrounding this concept, and provided car lovers know their way around blockchain technology, we expect the money literally to flow.
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