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$37,000 for Satoshi Nakamoto’s drawing
$37,000 for Satoshi Nakamoto’s drawing
Crypto

$37,000 for Satoshi Nakamoto’s drawing

By Marco Cavicchioli - 6 Oct 2020

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106 ETH, equivalent to over $37,000, were offered for a fancy design by Satoshi Nakamoto. 

This is an auction to win an NFT on Dego.finance for a fictional design depicting Satoshi Nakamoto as a Lego character. 

Obviously nobody knows the real face of Satoshi, so this drawing does not represent him. It is an artistic interpretation, but since it is a unique NFT it has obviously generated a significant market demand. 

It is not known who is the potential buyer who offered 106 ETH to come in possession of it, but Dego says that it would be a cryptocurrency trader. 

satoshi auction

Satoshi Nakamoto’s drawing at auction on Dego

Dego’s auctions last 24 hours, so the offer was made a few hours after the launch. The initial bidding for these auctions, which are held only in ETH, is 1 ETH, so the 106 ETH bid is much higher than the minimum bid. 

The Dego auction system also provides for a complex auction management system, which sets aside part of the offered ETH within the system’s reserve. To date, more than 85 ETH have already been collected in this way. 

95% of these funds will then be injected into the reward pool under the Gego module, while the remaining 5% will be set aside in a Dego NFT fund. 

Dego NFT is a field trial of the so-called GameFi, i.e. the possibility to use games to create and manage financial platforms. 

The system on which Dego NFT is based is complex, and provides both the minting of NFT and the staking. 

The roadmap instead foresees the generation of NFT distributed with airdrop, the auction of NFT, the minting, and an open source gameplay. 

After the resounding success of DeFi in 2020, new ways are being explored to exploit smart contracts to create new engaging forms of activities that exploit the potential of cryptocurrency and decentralized protocols. 

After all, even in trading itself there is sometimes a certain playful component that drives many people literally to bet on certain tokens in the hope that they will increase in value. 

GameFi does nothing but try to exploit this widespread interest to make the playful aspects of a certain way of finance even more evident. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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