One of the biggest viral videos of the past year is now becoming an NFT and is heading to auction with a hefty opening price tag.
First reported by TMZ, Nathan Apodaca will be auctioning his 23-second TikTok video of him skateboarding and drinking Ocean Spray Cran-Raspberry while lipsyncing Fleetwood Mac’s “Dreams” via Rarible.com. The video will be auctioned as an NFT, or non-fungible token. An NFT is a type of cryptocurrency, but instead of containing money, it can contain a variety of assets from videos to art images to music recordings.
So, what is the opening bid for this NFT? A whopping $500,000!
There is a catch with the NFT, though: It won’t contain Fleetwood Mac’s “Dreams” due to copyright issues, and the Ocean Spray logo will be blurred out of the video, also due to copyright issues.
Before judging this venture, Apodaca’s manager tells TMZ that he plans on doing some good with the money earned from the auction. For starters, he wants to open up an event center in his hometown of Idaho Falls, Idaho. On top of that, he’s also planning on buying his parents a home.