What’s Inside YouTube Channel Founder Swaps Tesla Roadster for Non-Fungible Token
Dan Markham, the founder of the What’s Inside YouTube channel with seven million subscribers, has sold his Tesla Roadster for an only one nonfungible token (NFT). Markham traded a blue Tesla Roadster — which he predicted might be worth “a quarter-million dollars fairly soon” — for a nonfungible token of a “positive porcupine” in a video posted on his What’s Inside Family channel on September 15.
The NFT was created as part of the VeeFriends venture and was held by Eli Burton, the creator of the comic book The Adventures of Starman. “Thinking back one year, two years, three years from now, it might be a monumentally stupid choice, but it could also be a wonderful one,” Markham added.
“I feel these vehicles will have a lot of value for a long time, and I believe in NFTs. It’s a vehicle image – obviously he’s getting a much better part of this bargain,” the YouTuber said. Burton said that he had intended to dispose the digital work for over $100,000 before knowing of Markham’s offer. Swapping the NFT for the vehicle, as per graphic novelist, was “as easy as supply and demand,” since there were 10,000 of the tokens available at a base price of $60,000.
VeeFriends has a collection of 40 related porcupines from various origins. “There’s essentially no difference in terms of money by having it – whether it be in a collector vehicle or a collectible NFT – it’s still valuable,” Markham said. Though the two collectors exchanged NFTs on the blockchain, the majority of the transaction took place in person, with Markham personally giving Burton the paperwork title and key to the Tesla.
I traded my vee friends NFT epic positive porcupine for my dream car, the original Starman Tesla roaster.
— Eli Burton (@EliBurton_) September 15, 2021
The porcupine is now offered on OpenSea with a top bid of 16.339 Wrapped Ether (WETH) — about $56,445 at the time of writing — but Markham said that he intended to retain the NFT in order to obtain access to a special symposium for VeeFriends token holders. Some cryptocurrency users have also experimented with tying NFTs to real items.
In July, an entrepreneur held concurrent bidding for an Apple co-founder Steve Jobs’ resume and an NFT reflecting the same. The actual paper sold for $343,000, while the final price for the NFT was 12 Ether (ETH), or around $27,460 at the moment.