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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