Azuki golden skateboard auction raised $2.5 million worth of funds
Azuki's golden skateboard auction on Friday resulted in a competitive bidding war, allowing users to place their bids on 8 precious golden skateboards that came with their own unique NFTs.
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According to Chiru Labs, founder of the Azuki brand, each golden skateboard is made of 24-karat gold and weighs nearly 45 pounds.
Per the official press statement, each board is fully functional and depicts an 'exquisitely detailed golden dragon' along with nine unique emblems of the Azuki universe.
The series of Golden Skateboards were custom-designed, precision-milled, and fully coated in 24K gold. Each board is fully functional (although we don't recommend riding it as it weighs 45 f****** lbs.)
Each skateboard also comes with its own unique bean chip, described as a cryptographic chip 'tying a physical item to a digital token verifiable on a blockchain.'
Among several bids placed to obtain the precious Azuki skateboards, the highest bidder, called Dingaling, paid nearly $400,000, or 309 ETH, to get their hands on the special dragon emblem skateboard.
Another NFT investor, johnf696969, shelled nearly 303 ETH to acquire a fire emblem golden skateboard, while SpiritDAO placed a bid of 240 ETH to obtain the lightning emblem golden skateboard.
Launched in a new scan-to-own format, each skateboard comes with a unique embedded chip that users can scan with their smartphones to verify the ownership of acquired skateboards.
Furthermore, users will be able to redeem and burn their NFTs from November onwards if they wish to claim their physical skateboards.
Per the official press release, an Azuki team member will contact the buyer to ascertain details concerning the purchase and will coordinate delivery of the golden skateboard via a fine art handler.
With the sale of Azuki golden skateboard NFTs, the firm further floated the concept of physically backed tokens, or PBTs, into the mainstream crypto NFT market.
Azuki later shared how PBTs can be used to link physical items on a blockchain through NFTs. These PBTs can also be used to trace the history of an item's ownership in the past in an attempt to establish the object's provenance history.
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