In another world first in the field of non-fungible tokens (NFT), Steve Job’s handwritten cover letter in physical form and the accompanying digital NFT of the same project will face each other in their respective auctions.
Auction reveals how collectors rate different formats
As NFT continues to push the boundaries of possibility, whether it is introducing new and novel tokenization use cases or adding a value proposition layer to existing physical projects, the issue of collector preferences will be best tested.
Today, at 9:41 am Pacific Daylight Time (PDT), Rarible and Snoofa will hold a six-day simultaneous auction in two competing formats: the original physical copy and the NFT version, with Steve Job Featured in 1973 handwritten job applications. The written application highlighted Job’s skills and interests, and emphasized his experience a year before moving to Atari, which was just a start-up company in the game field.
Rarible is an NFT market for creators and collectors to issue, sell and trade NFTs in the IPFS protocol, ensuring that Job applications minted in the NFT format are backed up and will not be lost during transfer between owners. Snoofa, which provides auction platform software solutions, will be responsible for the physical version of the auction. Interested collectors can bid in Ethereum (ETH) through the Rarible platform, and Snoofa will accept U.S. dollars and Ether.
Although physical objects and assets can support corresponding NFTs based on the nature of the NFT, this event marks the first time that the same digital and physical versions will compete side by side in a separate auction.
The physical version of the app has auction history, and it was auctioned for the first time in New York at a price of $18,750 since 2017. Since then, it has changed hands twice in 2018 for $174,757 in Boston. It was then sold again in London in 2021 at a price of US$224,750, an increase of 1,200% from the original price.
The question remains whether the digital version or the physical version will get a higher price at auction, as a barometer of the strong demand of collectors for these new digital iterations of the physical history.
Which do you think will sell better-paper job application or NFT? Let us know in the comments section below.
Image Source: Shutterstock, Pixabay, Wikimedia Commons
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