Continuing a trend of splashy non-fungible token (NFT) auctions in recent days, rapper Lil Yachty has sold a digital collectible for $16,050.
The lucky winner is “westcoastbill” – a user who appears to have sniped Tyler Winklevoss by $50 at the last minute. Winklevoss, a “bitcoin billionaire,” is the owner of the NFT marketplace on which the “YachtyCoin” was auctioned.
The NFT auction on Nifty Gateway follows a Lil Yachty social token sale on Fyooz last week that raised approximately $276,000 for the Atlanta-born rapper.
A Nifty Gateway spokesperson confirmed Wednesday's winning bid went to Bill Lee, a general partner at early-stage VC firm Craft Ventures.
Gemini acquired Nifty Gateway in late 2019, with Tyler Winklevoss saying in a statement at the time, “We believe that both real-world and digital collectibles will migrate onto blockchains in the form of nifties.” NFTs are provably unique digital collectibles whose provenance is tracked on the blockchain, typically Ethereum.
Such are the prerogatives of the crypto-rich.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.