A computer scribbled 'Test' just sold for $270,000

There is no artistic value, why does the word "Test" sell for such a high price?

A computer scribbled 'Test' just sold for $270,000
A computer scribbled 'Test' just sold for $270,000

The NFT craze does not seem to have stopped when the NFT of a word Test scribbled on a computer has been sold for up to 270,000 USD. Its sky-high price is not from its artistic value, but it was simply created by billionaire Sam Bankman-Fried, CEO of cryptocurrency exchange FTX Exchange.

But the most special feature of this NFT lies in the purpose of its creation. Recently, the FTX Exchange has allowed users to create custom NFTs right on their exchange. The word Test scribbled above was created by Sam Bankman as an example of how custom NFTs are created on their exchange.

A computer scribbled 'Test' just sold for $270,000
A computer scribbled 'Test' just sold for $270,000

As the first NFT of the FTX Exchange, as well as the "handwritten" word created by the CEO himself, the word TEST is literally "unique". It is not difficult to understand why after the auction, this NFT was sold for up to 270,000 USD.

Interestingly, not long after the introduction of this new feature on the FTX Exchange, users flooded the platform and created a series of pictures of the fish. To limit this terrible spam situation, FTX then offers an NFT creation fee of up to 500 USD. However, due to strong opposition from users, this fee was later reduced to 10 USD.

Currently, FTX is not the only exchange to expand into the NFT playground. Their rival, Binance exchange also soon offered its own NFT trading ability after partnering with celebrities such as singer-songwriter Lewis Capaldi, artist Trevor Jones, player Michael Own and Alphonso Davies.

Google Tech News

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