Blue chip NFT project Azuki auctioned off eight Golden Skateboard non-fungible tokens. With the lowest selling for 200 ETH and the highest for 309 ETH.
The sale was announced on its Azuki Twitter account. The skateboards currently are NFTs. However they will be redeemable for physical versions, and are officially the most expensive skateboards ever.
Before now, the most expensive skateboard was Jamie Thomas’ and Bob Dylan’s “Blowin’ in the Wind Skateboard,” which cost $38,452 in December 2012.
Another that comes close is Tony Hawk’s Beatles’ Blackbird Board. Which included a signature from Paul McCartney and was auctioned off for $27,116.
But even the combined value of the two is not up to the value of the lowest-selling Azuki Golden skateboard NFT which went for an equivalent of $261,682.
The Azuki Skateboard NFTs are Redeemable for Physical Ones
Azuki has been promoting the limited edition Golden Skateboards. Which would be redeemable for a physical skateboard painted in 24-karat gold.
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****** pounds) and depicts an exquisitely detailed golden dragon – along with one of nine unique emblems from the Azuki universe,” the Azuki website stated.
For the owners of the NFTs to redeem the physical skateboards, they would have to burn the NFTs. But the redemption can happen anytime, and installation of the skateboards is ongoing.
Azuki also noted that the boards would come with decentralized tracking chip technology and integrate a Physical Backed Token. The Bean Chip token can be used to claim or mint new kinds of tokens.
The high cost of the NFTs is reminiscent of the crypto bull run when NFTs sold for record prices. But some of those NFTs that sold for record prices then are now worth only a few dollars.
Recently, YouTuber Logan Paul revealed that the Azuki Bumblebee NFT he bought for $623,000(188 ETH) is now worth only $10.
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Source: https://beincrypto.com/azuki-sells-8-golden-skateboard-nfts-for-record-prices/