NFT's haven't been on the scene for too long, but the non-fungible tokens have been causing a storm online as of late. One of the most recent sales to surface from the NFT market is, let's say, an interesting choice.
The piece of digital art called Testing Testing 123 #1, features a plain white background and the word 'test' sprawled across the virtual canvas. We wouldn't be surprised if this NFT was designed on a software like Paint. (If you're unsure what an NFT is, we have rounded up all the information you need to know in one nifty NFT guide).
The CEO (opens in new tab) of the cryptocurrency traders, FTX (opens in new tab) is responsible for this questionable art piece. The company uploaded Testing Testing 123 #1 to its own trading platform and described the piece as "extra rare", which unbelievably led to the NFT being sold for a whopping $270,000 (we've seen Picasso's sell for less).
The FTX Twitter page has since shared a video of the NFT being sold and captioned it with "history being made." While it is a pricey fee to pay, it's hardly historic compared to the NFT that sold for a record-breaking $69.3 million.
As per usual, Twitter had a lot to say about the minimalist NFT, with some users creating their own hilarious Paint-style art. A lot of people were questioning why anyone would buy this particular design for so much money – and we don't blame them. We can't understand why anyone would buy this NFT when there are sure to be more, err, artistic pieces to invest in.
How come no one bought mine for $270k? Market must be rigged. pic.twitter.com/tDad9QoAhCSeptember 7, 2021
I want off this planet more and more every day. https://t.co/Yp6SBmWLbGSeptember 9, 2021
Why tf would you buy this? https://t.co/I4UogR69r6September 7, 2021
If you think you can design a better NFT than FTX, then have a look at our guide on how to make and sell an NFT.