• SBF’s TEST NFT Sells for $270K on FTX Marketplace as FTT Rises to ATH

  • Despite talk of an NFT bubble, the NFT season is still booming and shows no signs of slowing down. The most recent example is the ‘TEST’ NFT developed by FTX CEO Sam Bankman-Fried.

    The ‘TEST’ NFT sells for a whopping $270,000.

    FTX now allows users to create custom non-fungible tokens (NFTs) on their exchange.

    Fun fact: after they did so, users flooded the platform with fish drawings. In fact, there were so many images that SBF was forced to put up a paywall. Initially, he planned to charge a $500 one-time fee, but the community reacted angrily, and the fee was reduced to $10.

    In any case, once the platform went live, SBF built the first NFT and sold it. It was a hand-written “TEST” image with nothing but these words on it.

    After only 24 hours, that same ‘TEST’ NFT sold for a whopping $270,000.

    History being made@SBF_FTX‘s 1/1 “test’ NFT has been sold for $270,000 USD https://t.co/R35DbNBEQa pic.twitter.com/0VYwOUQVrW

    — FTX – Built By Traders, For Traders (@FTX_Official) September 7, 2021

    To be fair, it is ‘extra rare’ because there is no other NFT of this type – it is a one-of-one piece.

    FTT has reached a new all-time high.

    The introduction of FTX’s NFT minting platform benefited its native cryptocurrency, the FTT token.

    At the time of writing, it was trading around $75, up 4.1 percent in the previous 24 hours. However, it has risen by more than 60% in the last week and reached a new all-time high of around $83 earlier today.

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