Sotheby’s auctioned a non-fungible token (NFT) backed by the source code of the Web, coded by Sir Tim Berners-Lee in 1989. The NFT ended up selling for $5.4 million.
Unsurprisingly, Sotheby’s believes that the pricing represents the real value of the NFT, as clearly do multiple participants in the auction, half of whom had never participated at an event at the auction house before.
Auction participants, especially the new bidders, were likely crypto and NFT enthusiasts who have been following market trends over the last couple of months. Therefore they should have a good understanding of the value and volatility behind NFTs.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
