In Breif:
- Aave Founder Stani Kulechov has sold a NFT called “Yield” for 350 ETH, to an unnamed bidder for a social experiment
- NFT artwork is a video clip showing balloons letters of Yields, created by Sven Eberwein
- The buyers of the NFT face a dilemma and have to choose one of two options.
Aave Founder Stani Kulechov has sold an NFT called “Yield” for 350 ETH, worth $1.15 million, to an unknown bidder.
According to the announcement, Yield is not just a short video but also a social experiment.
According to the artwork information, the buyer of the NFT faces a dilemma. Either they hold onto the NFT, perhaps wait for it if it rises in value, and consider selling it to another buyer. Or, they are permitted to return it to Kulechov by October 31 and receive all of their funds back. Funds will be back along with 10% of the value of the NFT or 10 ETH ($33,000), whichever is cheap.
Since the artwork sold for so much, the purchaser would receive the 10 ETH rather than the 10% of the sale price.
NFT Artwork “Yield”
The NFT is a video clip showing balloon-like letters of Yield that expands, filling the screen, and then contract. In the background are silver versions of Kulechov himself. The artwork and social experiment are themed around yield, earned via lending protocols, like Aave.
The Artwork was created by Sven Eberwein, an NFT artist with 48 artworks on SuperRare. The bid lasted for one day. It also got bids from famous artist pplpleasr.
Kulechov said that he’s excited to see whether people will trade it on secondary markets and how it will be priced there. He added, “Essentially, it’s an NFT, it’s an art piece, and it’s just an interesting experiment.”
