Dark Web Market Founder Silkroad Sells First NFT For $ 6.2 Million

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Ross Ulbricht, 37, the alleged founder of the dark web market Silk Road, sold his first non-fungible token (NFT), a pencil drawing titled Perspective, for $ 6.2 million (Rs 47 crore) during an auction launched at Art Basel Miami via the SuperRare platform.

Ulbricht has been convicted and is serving a life sentence for crimes related to his exploitation of the Silk Road, where people buy and sell drugs, false identity documents and other illegal goods – often with Bitcoin.

NFTs allow users to own rare digital artifacts through the blockchain network that supports cryptocurrencies. All art forms, tweets, music, GIFs and many other such digital assets can be owned through NFTs.

Until a few months ago Ulbricht said he didn’t even know about NFT, but his supporters who want his release created a decentralized group called FreeRossDAO and put his artwork up for auction, in the form of NFT.

The Ross Ulbricht Genesis Collection NFT is a collection of writings and ten works of art from Ulbricht, from infancy to adolescence to the prisoner. It also includes original animation created by audiovisual artist Levitate, with a voiceover by Ross, inspired by his experience in prison.

The NFT sale was completed for a total of 1,446 Ether (ETH). Ulbricht says his work shows his story, from his childhood to being behind bars at the age of 29, and that he will use the money to fund his liberation efforts.

“All products in the Ross Ulbricht Genesis Collection NFT will not belong to Ross Ulbricht or his family, but to a legally separate entity which will redistribute the products to the Art4Giving fund and efforts to free Ross Ulbricht,” reads on the FreeRossDAO fundraising site. “Stand up against injustice. Free Ross.

“This NFT collection is Ross’s creative journey of expression; it is its living and evolving history. Through drawings and videos we see glimpses of a man’s existence unfolding. This is his way out of the prison walls, as we continue the campaign for his freedom, ”added Entoptic, the agency that organized the NFT.

Not just collectors or investors but Bollywood stars like Amitabh Bachchan, Salman Khan, Sunny Leone are also jumping on the cryptocurrency bandwagon.

It should be noted that people have spent over $ 9 billion on NFT sales so far and total NFT sales are expected to reach $ 17.7 billion by the end of the year, according to a news report. Cointelegraph research.

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