Photo: MMPlate.com
You could just buy a Ferrari, but lots of people buy Ferraris, so rather than spend your money on something useful, you could buy an extremely rare license plate - yes, you read that right, a plate with the letters “MM,” issued in the state of California, for $24.3 million.
Yes, the people behind the sale call it "The Ultimate Flex", and as part of the bargain, you get a matching NFT (Non Fungible Token) to add to your haul.
California is home to some 35 million registered vehicles and each is eligible to receive a unique license plate stamped with anywhere from two to seven characters. It’s the two-character plates that are the most exclusive in that two-character repeating designations such as “MM” are obviously limited.
And there’s actually a website for the “MM” plate. As one of only 35 two-letter plates, the “MM” is in actuality “one in a million” and thusly valuable to someone with money to burn.
As if it matters, whoever shells out the cash can slap the plate on the back of their car. A recent change to California’s Special Interest License Plate Application means the DMV now includes an option to “release interest to a new owner,” meaning it can be resold for reuse on any vehicle.
So if you have the hankering to spend a little disposable income, you can buy the “MM” license plate on OpenSea, a digital art auction site - for $24.3 million. But hey, that seems reasonable as the license plate comes with a matching non-fungible token. Part of the pitch is that the license plate and the accompanying digital artwork are “unique.”
The NFT further bolsters the authenticity of your sensible purchase as the plate itself includes a QR code and ID number on the back of the plate.
“Just like NFTs, license plates are exclusive by nature, always 1 of 1,” says the listing. “The pairing of these two rarities was inevitable. This minting has established provenance, and hopes to inspire an entire community around an aftermarket buying (and) selling desirable license plate configurations.”
If someone actually ponies up the cash for the “MM” plate they’ll find themselves in possession of the world’s most expensive license plate. Their purchase will also eclipse the price paid for the current titleholder, a plate issued in Abu Dhabi bearing the number “1.”
That plate sold at auction for $14.3 million in 2009. The most expensive U.S. plate was issued in Delaware and marked with “11”, and it sold back in 2008 for a paltry $675,000.
California is home to some 35 million registered vehicles and each is eligible to receive a unique license plate stamped with anywhere from two to seven characters. It’s the two-character plates that are the most exclusive in that two-character repeating designations such as “MM” are obviously limited.
And there’s actually a website for the “MM” plate. As one of only 35 two-letter plates, the “MM” is in actuality “one in a million” and thusly valuable to someone with money to burn.
As if it matters, whoever shells out the cash can slap the plate on the back of their car. A recent change to California’s Special Interest License Plate Application means the DMV now includes an option to “release interest to a new owner,” meaning it can be resold for reuse on any vehicle.
So if you have the hankering to spend a little disposable income, you can buy the “MM” license plate on OpenSea, a digital art auction site - for $24.3 million. But hey, that seems reasonable as the license plate comes with a matching non-fungible token. Part of the pitch is that the license plate and the accompanying digital artwork are “unique.”
The NFT further bolsters the authenticity of your sensible purchase as the plate itself includes a QR code and ID number on the back of the plate.
“Just like NFTs, license plates are exclusive by nature, always 1 of 1,” says the listing. “The pairing of these two rarities was inevitable. This minting has established provenance, and hopes to inspire an entire community around an aftermarket buying (and) selling desirable license plate configurations.”
If someone actually ponies up the cash for the “MM” plate they’ll find themselves in possession of the world’s most expensive license plate. Their purchase will also eclipse the price paid for the current titleholder, a plate issued in Abu Dhabi bearing the number “1.”
That plate sold at auction for $14.3 million in 2009. The most expensive U.S. plate was issued in Delaware and marked with “11”, and it sold back in 2008 for a paltry $675,000.
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