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    Home » Crypto News » Looks Rare: SBF’s TEST NFT Sells for $270K on FTX Marketplace as FTT Surges to ATH

    Looks Rare: SBF’s TEST NFT Sells for $270K on FTX Marketplace as FTT Surges to ATH

    Author: George Georgiev

    Last Updated Sep 7, 2021 @ 13:33

    The ‘TEST’ NFT that Sam Bankman-Fried created upon launching FTX’s NFT minting platform sold for a whopping $270K.

    The NFT season continues to boom, and it shows little signs of slowing down, despite the talks of an NFT bubble. The most recent example of it is the ‘TEST’ NFT created by the CEO of FTX – Sam Bankman-Fried.

    ‘TEST’ NFT Sells for a Whopping $270K

    As CryptoPotato reported yesterday, FTX allowed users to mint custom non-fungible tokens (NFTs) on their exchange.

    Fun fact: once they did so, users flooded the platform with drawings of fish. In fact, the images were so many that SBF was forced to implement a paywall. Initially, he wanted to charge a one-off fee of $500, but the community reacted rather sharply, and the fee was reduced to $10.

    In any case, once the platform went live, SBF created the first NFT and put it up for sale. It was a hand-written “TEST” image with literally nothing else on it but these words.

    Fast forward 24 hours later, and 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

    In all fairness, it is indeed ‘extra rare’ as there’s no other NFT of this kind – it’s a 1 of 1 piece.

     FTT Surges to a New All-Time High

    The launch of the NFT minting platform by FTX also had a beneficial effect on its native cryptocurrency – the FTT token.

    At the time of this writing, it’s trading at around $75, up 4.1% in the past 24 hours. However, it’s up over 60% over the past week, and it managed to surge to a new all-time high at around $83 earlier today.

    fttusdt_chart
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    Tags: FTX Exchange Non-Fungible Token (NFT)
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    About The Author

    George Georgiev
    More posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

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