According to Cassandra Hatton, global head of science and popular culture at Sotheby's, the symbolism, the history behind the NFT makes it so valuable.
World Wide Web Inventor Tim Berners-Lee sold off his original source code for the Internet world at Southby’s as an online NFT (non-fungible block-chain-based token.) NFT is a kind of crypto asset which auctions crypto or digital assets.
The source code written decades back was put for auction only recently. The World Wide Web was the system for navigating and accessing the information on the internet.
The bidding for World Wide Web started at 1,000 USD on June 23 and went on for seven days. The NFT will be composed of four elements, animated visualisation of the code by Berner-Lee, an original time-stamped file with the source code, a digital poster of the full code from the original files using Python, a letter written by Sir Tim reflecting on the code and process of creating it, all these elements digitally signed.
World Wide Web has not been sold literally though. What was sold was a blockchain-based record of the ownership. The final price at which it was sold was $5,434,500. Half of the bidders for this auction a Southby attended it for the first time. According to Cassandra Hatton, global head of science and popular culture at Sotheby’s, the symbolism, the history behind the NFT makes it so valuable.
The original source code has 9,555 lines within the file referenced by the NFT and deals with the process of implementing the three languages, HTML, HTTP, and URIs and protocols first written by Sir Berner-Lee.
Earlier Twitter founder Jack Dorsey first tweet was sold as an NFT for $2.9million and American artist Beeple fetched $69.3 million at Christie’s making auction of block-chain-based assets a hot trend of the year.