Ross Ulbricht's First Nonfungible Token
A virtual collection of 10 artworks made by Ulbricht at various stages of his life was worth $6.3 million at the time of sale.
In December, over 1,000 crypto investors who together comprise FreeRossDAO pooled their money to buy Silk Road founder Ross Ulbricht's first-ever nonfungible token (NFT) for 1,446 ether, worth $6.3 million at the time of sale. NFTs are digital assets that live on the blockchain, with verifiable owners and transaction histories.
The NFT in question is a virtual collection of 10 artworks made by Ulbricht at various stages of his life. Death, shown here, is an oil painting on canvas that Ulbricht created in prison. He is serving a life sentence for crimes related to his creation of the online marketplace Silk Road, where users could use cryptocurrency to buy and sell illicit goods.