Azuki ‘Proof of Skate’ Draws $2.5 Million for NFT-Backed Skateboards

Source: Nftplazas / Russell

Over in the strange realm of Azuki, NFTs’ finest degens just showed how far they will go to acquire the latest must-have collectible. In the end, shelling out a grand total of $2.5 million on 8 NFT-backed, gold-plated skateboards.

Azuki launched the auction to showcase their recently unveiled Physically Backed Token (PBT) standard, embedding 8 highly desirable and somewhat unusable skateboards with their natively developed PBT chip. Then, they let the hardcore of its community battle it out for possession in a fierce bidding war.

When the dust had settled, bidders had spent a grand total of $2.5 million worth of ETH tokens on the items, with the top ‘Dragon Emblem’ board changing hands for a massive 309 ETH ($400k) alone. The lowest successful bidder bagged the Frog Emblem skateboard for 200 ETH ($260k).

Each item in the collection features a single skateboard plated entirely in 24 karat gold. Azuki’s PBT technology allows the tying of verifiable ownership to the blockchain. Going forwards, owners can now facilitate a sale of the high-value items by scanning the chip with their wallets and conducting an on-chain transfer.

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.