St. Pete-based Autographia, a provider of authentic autographed memorabilia, will sell non-fungible token (NFT) matches for some of its inventory.
The opposite of fungible assets, like dollars, which can be swapped evenly for each other, NFTs are one-of-a-kind and represent digital rarity.
To kick off its offerings, the company will auction a model Tesla signed by Elon Musk that is matched to an NFT.
Autographia has partnered with the decentralized finance (DeFi) community, HODL Token, to exclusively list its first NFT offering as the inaugural product in the HODL Diamond Marketplace.
“It is with great excitement that we launch this new venture – an opportunity that has not been seen before in the memorabilia landscape with someone as influential as Elon Musk,” Jim Martin, Vice President of Fan Experience at Autographia, said in a news release. “HODL is comprised of smart, cutting edge crypto buyers and we greatly look forward to introducing our memorabilia to new sets of eyes that value NFTs and can show the value that memorabilia brings as an investment over the short and long term.”
“With the rise in popularity of NFTs, and collectibles at large, we feel like a brand new frontier has arrived, and [there is] no better person to lead us on the journey than Elon Musk,” Martin said in the release.
The auction will begin on Aug. 29 at 8 p.m. Eastern Standard Time and last for 10 days. The opening bid will be set to 7.5 Ethereum, just under $24,000 at today’s exchange rate.