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

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.

Chart by TradingView