world news

World Wide Web source code NFT sold for $5.4 million at auction

NFT was created by British scientist Tim Berners-Lee in 2021, and represents the ownership of various digital projects since he invented the World Wide Web in 1989.

The auction house stated that the blockchain token representing the original source code of the World Wide Web was written by its inventor Tim Berners-Lee and was sold at Sotheby’s online auction for $5.4 million on Wednesday. Sold at the price.

The source code is sold in the form of non-fungible tokens (NFT), which is an encrypted asset that records the ownership of digital projects.

NFT was created by British scientist Berners-Lee in 2021 and represents the ownership of various digital items since he invented the World Wide Web in 1989.

To be sure, the World Wide Web itself has not been sold. What is sold is a blockchain-based document ownership record, which contains the original source code of the World Wide Web. The final transaction price was US$5,434,500, and half of the bidders were newcomers to Sotheby’s.

The World Wide Web is a system used to navigate and access information on the Internet.

NFT is considered by some people to be valuable because the blockchain proves that it is a kind and was formally created or “casted” by Berners-Lee himself.

“Symbolism, history, and the fact that they came from their creators make them valuable – and many people collect things for these reasons,” said Cassandra Hatton, head of global science and popular culture. Sotheby’s.

“We put it on a public forum, we basically sell it without reserve price (bids start at $1,000), and we let the market determine its value. There are multiple bidders who agree that it is valuable.”

The purchase includes an NFT representing approximately 9,555 lines of code written from 1990 to 1991, a 30-minute animated visualization of the code, a digital poster of the code, and a digital letter written by Berners-Lee in June 2021, reflecting his invention.

The letter begins with: “Since people seem to like autographed books, now that we have NFT technology, I think it would be interesting to make an autographed copy of the first web browser’s original code.”

This auction is the latest in a series of initiatives by traditional auction houses to adopt blockchain-based assets, which will be very popular in early 2021.

In March, American artist Beeple’s NFT on digital collage $69.3 million sold at Christie’s, The first auction of an artwork that does not actually exist in a large auction house.Twitter boss Jack Dorsey Sold his first tweet as NFT US$2.9 million.



Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button