Aofex

YouTuber Exchanges Tesla Roadster for NFT

UTC by Babafemi Adebajo · 3 min read
YouTuber Exchanges Tesla Roadster for NFT
Photo: Tesla

While the NFT exchange happened majorly on the blockchain, the trade was cemented in the real world. This is true since Markham physically handed Burton the paper deed and key to the Tesla.

YouTube Creator and influencer, Dan Markham has exchanged his Tesla Roadster for a non-fungible token (NFT). Markham, popular known as the creator of the What’s Inside Family YouTube channel traded a blue Tesla Roadster for an NFT of a porcupine. This was made public via a video uploaded on the YouTube channel.

The porcupine NFT was created by the VeeFriends project and owned by Eli Burton who also designed the graphic novel, ‘The Adventures of Starman’.

Burton, in a tweet on Wednesday, September 15, expressed gratitude to the entire Vee community stating that he exchanged the NFT epic positive porcupine for his ”dream car, the original Starman tesla roaster’.’

NFT for Tesla Exchange: A Good Deal or Not?

Speaking about the transaction, Markham said that “Looking back on this in one year, two year, three years from now it could be a monumentally dumb decision but it also could be a great decision.”

Markham believes the car could be worth as much as $250,000 soon. He however also believes that NFTs have a lot of value in the long run. Additionally, Markham also noted that when considered from the money perspective, a collectible was a collectible – ‘whether it was a collectible car or a collectible NFT.’

Burton’s initial plan was to sell the NFT for over $100,000 each. This was before he learned of Markham’s offer. According to the novelist, it was a simple decision of supply and demand. He stated that there were 10,000 of the tokens currently available with each having a minimum valuation of $60,000.

VeeFriends also lists 40 similar porcupines with different backgrounds. The porcupine is listed on OpenSea with a value of 16.339 Wrapped Ether (WETH) — amounting to about $56,445 at the time of writing. Markham suggested that he planned to hold on to the NFT to gain access to an exclusive conference for VeeFriends token holders.

While the NFT exchange happened majorly on the blockchain, the trade was cemented in the real world. This is true since Markham physically handed Burton the paper deed and key to the Tesla.

This is not the first time cryptocurrency users have linked NFTs with physical collectibles. Recently, some users have been doing just that. Notably, for example, In July, an entrepreneur launched simultaneous auctions for a job application handwritten by Apple co-founder Steve Jobs when he was 18. He also created an NFT auction for the same. At the end of the auction, the physical paper was sold for $343,000, while the NFT went for $27,460.

Altcoin News, Blockchain News, Cryptocurrency news, News
Babafemi Adebajo

An experienced writer and Fintech enthusiast, passionate about helping people take charge of, scale and secure their finances. Has ample experience creating content across a host of niche. When not writing, he spends his time reading, researching or teaching.

Related Articles