A popular meme from the early 2010s sold as a non-fungible token for $36,000, according to Foundation, a digital art marketplace.
What Happened: “Bad Luck Brian” is a meme that contains an unflattering yearbook photo of Kyle Craven, which was posted to the internet in January 2012 by his best friend Ian Davies.
The duo released the authentic original Bad Luck Brian image as an NFT token, which was sold for 20 ETH or $36,134 on Thursday.
Foundation is also currently auctioning another meme “Grumpy Cat” and the highest bid on that meme as of press time was ETH 5.50 or nearly $9,927. Ethereum (CRYPTO: ETH), traded 0.43% higher at $1,804.90 at press time.
Bitcoin (CRYPTO: BTC) traded 1.33% higher at $56,688.15.
Why It Matters: On Thursday, auction house Christie’s sold Beeple’s “The First 5000 Days” NFT-based digital artwork for $69 million.
Beeple acknowledged the hype surrounding NFT saying, “It may be a bubble, but it’s one of those things where I also see a huge amount of legitimate long-term value for this as an asset class.”
Canadian artist Grimes, the partner of Tesla Inc (NASDAQ:TSLA) CEO Elon Musk has sold artworks worth almost $6 million, as per the Verge. Others that have embraced the NFT trend include Lindsay Lohan.
Photo by Meme Binge on Flickr