A 1973 application from one of the most famous business leaders of all time hits the market as a non-fungible mark.
What happened: The handwritten application from 1973 by Apple Inc. (NASDAQ: AAPL) Founder Steve Jobs launches today at 12:41 p.m. ET as NFT. According to the press release, the auction format will put the digital version in direct competition with the physical asset.
Simultaneous auctions offer collectors the opportunity to own the digital or physical version of the application. Both are for sale and could offer an exciting battle between physical vs. digital as a case study with value in 2021.
“The 1973 auction of Steve Jobs’ handwritten applications aims to highlight the modern shift in perceived value – physical or digital,” said Olly Joshi. Joshi is a digital entrepreneur and the creator of the NFT vs. Physical Auction for Application.
The auctions will be live for seven days, starting at 9:41 a.m. PT, coinciding with the time Jobs would reveal new products at Apple events and the times for Apple products.
The NFT was developed in collaboration with. created Rare, a leading NFT marketplace. The NFT will also be available for purchase ether (CRYPTO: ETH), while the physical asset can be bought for US dollars or Ethereum.
The physical application sold for $ 18,750 in 2017 and has been auctioned twice since, with value increasing over 1,200%. The last sale was $ 224,750 for application earlier this year.
A portion of the auction proceeds will be donated to charity partners Cancer Research Institute and One Laptop Per Child.
Related Link: How to Own a Piece of an Original Apple I Computer from 1976
Why it matters: The application could be a great keepsake for an Apple fan. The application also shows an early glimpse into the life of Job before joining Apple. The application takes place one year before his entry Atari.
In the application, Jobs lists interests and skills, including computers, calculators, design, and electronics.
Jobs did not have a phone at the time and had no access to public transport despite his driver’s license. Jobs gave his address as “Reed College”.
The price point of the NFT could prove to be an important lesson in the rise in the valuation of digital assets, or it could show that physical assets are even more valuable.
“We believe this will be massive evidence of NFTs and their role in culture,” said Joshi. As Jobs said, it is time to “think differently,” he asks.
“This unique auction format will really test where the value lies. Obviously I’m fighting on the NFT side, ”said Rarible co-founder Alexander Salnikov.
Photo: Steve Jobs 2007, via Ben Stanfield / Flickr