It sold for a cool $100,000 at an online auction named Artgrails Dubbed “NFT SF24 Tourbillon, It is inspired by the Epic SF24, a physical world time travel watch that offers a split-flap display listing 24 cities around the world, but it will display 10 cryptocurrencies instead of cities, including Bitcoin, Ether, and Fantom. In contrast to its real-world predecessor, the digital asset also includes a tourbillon. The digital asset will also come with a unique box and certificate.
“We’ve proven that NFTs have a place in the watches and luxury world,” Benjamin Arabov, the new CEO of Jacob & Co., is quoted in a press release. “I’m especially proud that we’re the pioneer in this new digital field.”
Benjamin Arabov, the new CEO of Jacob & Co
What is an NFT you may ask
NFTs are nonfungible tokens. A fungible asset is one that can be traded interchangeably between assets of the same type. Bitcoin, for example, is fungible, meaning that users can exchange one Bitcoin for another, and it will be the same asset.
We know that the NFT market is booming and that investors, institutions, companies, and celebrities are buying the tokens as their value steadily rises.
The total value of NFTs grew from $100 million in 2020 to more than $21 billion in 2021, according to a report by trading platforms.
Among the most famous NFT collections are the Bored Ape Yacht Club NFTs, a series of unique images depicting an ape with distinct personalities. Brand majors are also showing an interest in NFTs. Mercedes-Benz has partnered with NFT artists to create an exclusive NFT collection, Nike Inc. (NKE) acquired digital sneaker brand RTFKT, and Walmart Inc. (WMT) could offer its own cryptocurrency and NFT collection in the future.
You can reach more Here: