Ross Ulbricht’s first NFT sold at auction for $6.2 million
After the announcement Launched his “Genesis Collection” non-fungible token (NFT) auction, Ross Ulbricht, the founder of the dark web market Silk Road, allegedly sold his first NFT (Ethereum) Auction.
The auction kicked off at Art Basel Miami via the SuperRare platform. FreeRossDAO is a decentralized autonomous organization established to help Ulbricht avoid imprisonment and won the bid. FreeRossDAO website state The DAO aims to “advance prison reform” and “share Roth’s work with the world, so that everyone has a unique opportunity to have a share.”
The first NFT sold was called “Perspective” and was drawn with graphite pencil in the prison. It was part of a collection of 10 works and artworks created by Ulbrict in his lifetime. The series also includes animated videos produced by audiovisual artist Levitate, as well as Ulbricht’s voice-overs about his time in prison.
According to the organization, all proceeds raised from the “Genesis Collection” will be donated to the Art4Giving Fund, a donor-suggested trust fund created by FreeRossDao as a legal entity to fund new legal procedures and raise awareness.
FreeRossDAO plans to subdivide NFTs into ROSS governance tokens and distribute them proportionally in exchange for contributions from donors. ROSS holders will be able to vote on proposals and participate in the guidance of FreeRossDAO.
Ulbricht’s NFT is one of the largest sales in the past 7 days because record By irreplaceable.