A popular YouTuber, Dan Markham has revealed that he has traded one of his favorite Tesla Roadsters for something many may consider very dumb, a Non-Fungible Token (NFT). While many may not understand the choice of an NFT, the choice of the digital collectible, one of Gary Vee’s collections, – an epic positive Porcupine – makes it a noteworthy trade, at least, for Markham.
An NFT is a rare collectible that helps to register the ownership of a digital item on the blockchain. NFTs are becoming popular today, and popular leaders, media personalities, and influencers are beginning to launch their own collections. Gary Vaynerchuk, a media mogul launched his NFT collection dubbed Vee Friends. The NFTs are a collection of 10,255 hand-drawn images especially of animals, all of whom are symbolic of the values Gary holds dear.
Tesla for NFT? Reminiscing on the Trade By Barter Model
Despite projecting that one of his Tesla Roadsters could be worth as much as $250 million in the near term, Markham believes trading this exquisite automobile for one of the Vee Friends NFTs from Eli Burton would be worth it.
“Looking back on this in one year, two year, three years from now it could be a monumentally dumb decision but it also could be a great decision,” said Markham in one of his YouTube Videos on What’s Inside Family channel. “I think these cars have a lot of value for a long time and I do believe in NFTs.”
The trade has been confirmed by Burton, an artist in his own right who had earlier planned to sell the NFT for as much as $100,000 before inking the deal with Markham.
I traded my vee friends NFT epic positive porcupine for my dream car, the original Starman Tesla roaster.
— Eli Burton (@EliBurton_) September 15, 2021
Both collectors have completed the trade with Markham handing over the Tesla car documents to Burton, who in turn has handed over ownership of the NFT. Despite the listed Vee Friend NFT worth more than $56,000 on the OpenSea marketplace, Markham said he will be HODLing the asset to gain direct rights to one of Gary Vaynerchuk’s conferences. These events are some of the incentives that holders of the Vee Friends holders can benefit from.
NFTs are becoming more than just digital items as they now represent a piece of possessions that have come to be a crucial part of those who own them. The Markham-Burton deal is an example of a trade by barter in the modern world. Is more of these trades bound to happen in the future? Only time will tell now.