The source code for the global NFT network gets $ 5.4 million at auction Crypto News


The NFT was created by English scientist Tim Berners-Lee in 2021 and represents the ownership of several digital articles from when he invented the World Wide Web in 1989.

A blog-based testimonial depicting the original source code for the World Wide Web written by inventor Tim Berners-Lee sold for $ 5.4 million at Sotheby’s on Wednesday in an online auction, the house said of auctions.

The source code was sold in the form of non-fungible token (NFT), a type of cryptographic asset that records ownership of digital items.

The NFT was created by English scientist Berners-Lee in 2021 and represents ownership of several digital articles from when he invented the World Wide Web in 1989.

Of course, the World Wide Web itself has not been sold. What was sold was a string record-based ownership of file blocks containing the original source code of the World Wide Web. The final price was $ 5,434,500 and half of the bidders were new to Sotheby’s.

The World Wide Web is the system for browsing and accessing information on the Internet.

Some consider NFT valuable because it is an authentic blockchain that is unique and has been officially created, or “coined,” by Berners-Lee himself.

“The symbolism, the history, the fact that they come from the creator is what makes them valuable, and there are a lot of people who collect things for exactly these reasons,” said Cassandra Hatton, world head of science and popular culture at Sotheby’s .

“We put it on a public forum, we sold it basically without reservation (the bidding started at $ 1,000) and we let the market decide what value it will have. There have been several bidders who have agreed that it’s valuable. “.

The purchase includes NFTs representing about 9,555 lines of code written in 1990-1991, a 30-minute animated code view, a digital code poster, and a digital letter written by Berners-Lee in June 2021, which reflects on his invention.

The letter begins, “Since people seemed to appreciate the autographed versions of books, we now have NFT technology. I thought it might be fun to make an autographed copy of the original code from the first web browser.”

The sale is the latest in a series of moves by traditional auction houses to adopt blockchain-based assets, which they popularized in early 2021.

In March, NFT of a digital collage by American artist Beeple grossed $ 69.3 million at Christie’s, in the first sale of a large auction of a work that does not physically exist. The head of Twitter, Jack Dorsey sold his first tweet in NFT form for $ 2.9 million.

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