Macy’s is auctioning off Thanksgiving Day NFTs, bidding topping $ 300,000

The sky is the limit for Macy’s Thanksgiving Day balloons as well as its NFTs.

Macy’s has launched a major crypto bidding war over non-fungible tokens or NFTs with the retail giant away auctions 10 NFTs depicts its annual Thanksgiving Day parade in New York City for charity.

The 163-year-old retailer last week opened bids for 10 unique moving holiday graphics, leading people to place hundreds of thousands of dollars in bids from Thursday afternoon.

The graphics each show a parade participant cheerfully marching under a giant bouncing balloon in front of the dealer’s historic Herald Square department store in Manhattan. Each of the images is listed depicting different decades of the parade, beginning with the 1920s, when the parade was first launched.

From Thursday afternoon, Macy’s “Fireman” balloon NFT had the lowest bid of $ 10,500. The top bid was for one with the title “Happy dragon,” which hit a striking $ 310,000. This bidding war, which began on November 19 and ends on Monday, follows after 9,500 lower quality versions of these 10 are given away for free earlier in the day.

NFTs are essentially digital certificates that record the uniqueness and ownership of an asset, such as digital art. Since it is non-fungible, there is only one similar, so it can not be replaced directly with another. Despite how identical the works of art may appear, they are not alike.

No matter how you feel about NFTs, they are taken extremely seriously with humans spend millions of dollars to buy individual.

Artist REO, who is credited with designing Macy’s NFTs, said in an Instagram post on Thursday that he “is always careful about grabbing money” or a company that just wants to be “relevant in the nft / crypto field” “, when asked to help create NFTs for them.

When contacted by Macy’s about making its NFTs, he said he agreed after learning that it had promised to donate all proceeds to the nonprofit organization Make A Wish Foundation, which helps fulfill children’s desires. with critical illnesses.

“I am so blessed to be able to use my gift to make some kind of positive change in this world,” he wrote.

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