The Associated Press (AP) has put up for auction a non-fungible token (NFT) commemorating the 2020 U.S. presidential elections recorded on the blockchain.
The Associated Press is auctioning off their first #NFT artwork on @opensea to commemorate calling the 2020 Presidential Election on the blockchain.
In the future, every historic event will be called on-chain and archived with NFTs.https://t.co/QkmcXN7hc5
— Everipedia (@Everipedia) March 3, 2021
The digital artwork, titled “The Associated Press calls the 2020 Presidential Election on Blockchain — A View from Outer Space,” was put up for sale on the OpenSea platform.
The auction will close on March 11. At the time of writing, the highest bid stood at $17,474.
The NFT depicts a visual map of the Electoral College from space based on AP’s published data. To announce the winner of the election, the agency used an Ethereum address via Everipedia’s OraQle software.
“As we continue to test blockchain for revenue models and journalistic use cases, we thought it would be interesting to test an original and creative NFT on many levels,” said Duane Desolniers, AP’s director of data licensing, in comments to CoinDesk.
In early February, actress Lindsay Lohan sold a non-fungible token Lightning for $70 000. The popular meme GIF Nyan Cat went under the hammer for 300 ETH. In early March, Canadian singer Grimes sold a collection of NFTs for $6 million.
Charlie Lee, the creator of Litecoin, said that the popularity of non-fungible tokens compares to the ICO boom of 2017 and the altcoins mania of 2013. Earlier he predicted the collapse of NFTs due to “zero cost of their creation”.
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