Azuki ‘Proof of Skate’ Auction Draws $2.5 Million for NFT-Backed Skateboards

[Google News Bot]

NFTs are often thought of as flat images, but a bidding war broke out on Friday over physical skateboards authenticated by an embedded chip. The auction—hosted by Chiru Labs, creators of the Azuki brand—allowed people to place bids in Ethereum to secure one of eight skateboards, and amassed $2.5 million in ETH. Each of the skateboards is plated in 24 karat gold and weighs 45 pounds, according to Chiru Labs, which recommends that owners not try to ride them. The highest bidder paid just over $400,000 for one of the skateboards, compared to around $260,000 for the lowest successful bid. The ...

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