In another world first for the non-fungible token (NFT) space, Steve Job’s handwritten nomination letter in its physical form and an accompanying digital NFT of the same item will compete in the respective auctions.
Auction to showcase how collectors appreciate different formats
As NFTs continue to push the boundaries of possibilities, whether it’s introducing new use cases for tokenization or adding layers of value propositions to existing physical items, the question of preference of collectors is set to be better tested.
Today at 9:41 a.m. Pacific Daylight Time (PDT), Scarcity and Snoofa will host a six-day, simultaneous auction with Steve Job’s 1973 handwritten job application in two rival formats: the original physical copy and an NFT version. The written application highlights Job’s skills and interests, highlighting his experience just a year before moving to Atari, which was then just a startup in the gaming space.
Rare, a NFT Market for creators and collectors to issue, sell and trade NFTs in IPFS protocol, ensures that the Job application created in NFT format is backed up and cannot be lost during the transfer process between owners . Snoofa, which provides auction platform software solutions, will manage the auction for the physical version. Interested collectors can bid ethereum (ETH) via the Rarible platform, and Snoofa will accept both US dollars and Ether.
While items and physical assets may support corresponding NFTs depending on the nature of the NFT, this event marks the first time that identical digital and physical versions will compete side-by-side in separate auctions.
The physical version of the app already has an auction history, starting in 2017 when it was first auctioned in New York City for $ 18,750. It has since changed hands twice for $ 174,757 in Boston in 2018. Then it sold again in London in 2021 for $ 224,750, marking a 1,200% increase in value from the initial sale price.
The question remains whether the digital or physical version will cost more at auction, serving as a strong barometer of collectors’ demand for these new digital iterations of physical history.
Which one do you think will sell for more – the paper job application or the NFT? Let us know in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
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