Tuesday, July 5

Creator of Silk Road made a prison drawing that sold for 1,500 ETH as NFT

Key facts:
  • The money will go to alleviate the suffering of prisoners and to the cause for Ulbritch’s freedom.

  • Measured in fiat money, it equates to more than USD 6 million.

1,446 ethers (ETH), Ethereum’s native cryptocurrency, were paid for a collection of writings and 10 works of art by Ross Ulbricht, creator of the Silk Road marketplace. The material was auctioned in digital format as a non-fungible token (NFT).

At the time of writing, according to the CryptoNews Price Calculator, the sum equals USD 6.25 million.
The collection includes works made throughout Ulbricth’s life, from his childhood to his time in prison inclusive. In addition, it includes an original animation of 2 minutes and 40 seconds created in collaboration between the computer scientist and the audiovisual artist Levitate.

The works were compiled into a single non-fungible token and the proceeds reportedly on the SuperRare marketplace, are aimed at “alleviating the suffering of the incarcerated and their families.” Also, a part will go to “the fight to free Ross from his life sentence.”

Ulbricth, 37, has been in prison since May 29, 2015. He was sentenced to life in prison without the possibility of parole on charges of money laundering, hacking of computer systems and drug trafficking conspiracy. All this, for having created the Silk Road website, which worked on the deep web and allowed free trade of all kinds of products (even those classified as illegal), which were paid with bitcoin (BTC).

The NFT collection auction lasted 7 days. The first offer was for 3 ETH and the amount increased rapidly over time. Until a few hours ago, it seemed that the winner would be Jesse Pow, co-founder and CEO of the Kraken exchange, who was offering 1,314 ETH.

But, with just a few minutes to complete the bid, a user identified under the pseudonym @yfimaxi was ahead of him in the race and offered the 1,446 ETH that made him the owner of the collection.

News in development.

Reference-www.criptonoticias.com

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