The source code of the World Wide Web (WWW) or the first internet protocol was developed by Tim Berners Lee in 1989 was recently auctioned on Sotheby’s auction house as an NFT. However, the ever alert Twitterati found an error in the source code itself highlighting a potential fault within the auction itself. The NFT sector really took off in 2021 and is still going strong but its appeal is weaker than before when the cryptocurrency index was soaring at new heights.
The source code for the WWW was put up for auction amid much fanfare but the mistake did dampen the NFT party somewhat. This Twitter post summed up the mistake from the auctioners:
The “internet source code” NFT that sold for $5.5M yesterday at Sotheby’s doesn’t even have the correct source code as the conversion of the original text file to html was done sloppy so “<“ and “>” wrongly display as “<>,” in the video. ♀️
Kinda embarrassing for Sotheby’s pic.twitter.com/lqdvZ9CmI1
— Beanie (@beaniemaxi) July 1, 2021
Despite some arguing that this might result in an even better valuation for the NFT similar to mistakes made by the treasuries and mints around the world. To this day, limited run currency that never actually entered circulation is considered the move valuable one. However, this may not cut it as the auction was for the NFT of the WWW source code. This was an embarrasing situation for Sotheby’s and the auction itself as it was one of the biggest digital token auctions ever and fetched more than $5 million.
NFT platforms like SuperRare have been successful in terms of raising money through NFT auctions and such. However, the total number of active NFT buyers have dwindled a lot despite not being a lot since the very start on SuperRare. Right now they are just 193 of them on the platform. This is down from around 920 in June, however, it was quite a lot lower back during the early months of the sector. It is expected that it will rise in the long-term but for now, the craze is now quite low overall and will need a certain jumpstart action from the rest of the crypto sector to continue with its exponential growth.
Image Source: Marco Verch Professional under CC
Don’t worry, we hate spam too
one weekly digest, just the important stuff.