Ross Ulbricht’s first NFT collection and how much it sold for
Chances are you’ve heard about NFTs selling for millions of dollars, and Ross Ulbricht’s first NFT collection is a perfect example. It launched on Art Basel Miami via the Superrare platform on December 2, obtaining bids of over $2M dollars. Just imagine if we had a derivative based on NFTs that you could trade at Binance, FTX, Bitlevex, JEX or Deribit – you could easily pull an amazing profit in a small timeframe! That’s the power of NFTs, and if we added more liquidity, then the sky would be the limit.
NFTs are changing the way we see, buy and sell art – and in this article, we’re going to talk about Ross Ulbricht’s first NFT collection, along with the profound impact it might have in this booming crypto sector. Let’s start with this unique review.
All About Ross Ulbricht’s NFT Collection
Ross Ulbricht’s goal is to use the money from this auction to help children visit their parents in prison. Mr Ulbricht itself is incarcerated for life in the United States, after being syndicated and declared as the founder of the now-extinct Silk Road, a darknet marketplace that generated over 600,000 BTC in commissions.
He comments that his own future looks bleak since he’s been handled double life sentences plus 40 years and his appeals have been rejected. However, with the money he’s raising, he expects to make a significant change where it really counts and help people who are facing a similar situation to his.
When did it launch?
It launched on December 2 on Art Basel Miami via the Superrare platform – and since then it has caused a lot of noise in the crypto community. The auction ended on December 8, and was sold to a DAO known as FreeRossDAO for 1446 ETH, or $6,2 million at the time of the sale.
According to the comments, Ross’s art collection is unique on its kind, since it’s being used to support a movement. Furthermore, it shows you all the events that Ross had to pass through and his perspective on life. The money collected through the sale will be contributed to the legal fees of his case, as the whole community continues to fight for Ross’s freedom.
Why is it so valuable?
Since Ross Ulbricht is one of the most popular names in Bitcoin and cryptocurrencies history, it’s easy to see why it got sold for such a large price point. Many argue that Ulbricht’s sentence was unfair and that the government used him to show the people what happens when you defy the financial status quo.
In fact, according to his work titled “The Trial I Saw.”, he shows people in the trial wearing masks, just like in the Squid Game. This way, he portraits them as the government and the elite that wanted him in jail, to serve as an example. Pieces like this are what make this collection so valuable.
Therefore, since there’s so much hype, myths and talk about Ross Ulbricht, it’s easy to see why his collection has become so valuable, especially since the funds will be used for a fair cause. This is the perfect combination, especially since the NFTs sector is booming as we speak, which made it easy for Mr Ulbricht to raise the money he needed to accomplish the goals of his project.
Furthermore, the project FreeRossDAO raised money from many celebrities and influencers in the crypto space. The project is not only aimed to assist Ross Ulbricht and promote the reform of the criminal system in the United States so that no other person like Ross has to suffer.
Why is it relevant to the NFT sector?
It’s relevant because it shows that NFTs can be used for a wide myriad of purposes, in this case, to promote the reform of the criminal system while helping children to see their parents in prison. It shows that all of us can use NFTs to make a profound change in the world.
From a business perspective, it means that as long as there’s a narrative and enough hype, there will always be people ready to purchase NFTs, and in this case, a complete collection at an incredibly high price.
It’s also a call for independent artists to take advantage of the NFT narrative. There’s room for artists to really increase the value of their work – because thanks to the crypto hype and its incredible liquidity – you can go from barely making anything from your art to earning thousands if not millions of dollars.
Final Comments
What do you think about Ross Ulbricht’s future NFT collections? If you had the money, would you pay the $62M+ that was given for the piece? Let us know your views and thoughts as well as other topics you would like us to cover.
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