If you want to own a piece of Steve Job’s humble beginnings, then this NFT drop is for you! Jobs’ 1973 job application has been auctioned off multiple times over the last few years. However, this is the first time that it’s heading on the auction block both as a physical item and as an NFT.
Steve Jobs Stars in the World’s First Physical vs. NFT Auction
The NFT listing is part of the world’s first physical vs. NFT auction. The organizer, Olly Joshi, will take bids for the physical document through his website based on the auction App Snoofa. Meanwhile, bidding for the NFT version started yesterday, July 21, on Rarible.
The structure of the auction aims to assess where true “value” sits in today’s world. In essence, the main question is whether users will bid on the physical, the NFT or both? The website poses the following questions:
“Will this open a whole new market for decentralized collectibles? Will this cement the status quo? Or could we see a stalemate with a fresh understanding that both can coexist and even complement one another as we traverse the next 50 years of innovation?”
Steve Jobs personally filled out the single sheet job application in 1973, way before he established iconic brands like Apple, Macintosh, Pixar and NeXT. The NFT version is the digital version of the same document minted as an NFT to prove ownership and authenticity.
A portion of the proceeds will be donated to the Cancer Research Center and One Laptop per Child.
More about the Auction
The physical application has an established track record of doing well on auction. It has already completed 3 rounds since it first went on sale with Bonhams, New York, 4 years ago. The value of the document displayed more than 1200% growth with the recent sale generating over $200,000. For this round, PSA and Beckett verified the authenticity of the document.
Jobs is recognized as the pioneer of the personal computer revolution of the 1970s and 1980s. So this document represents an important moment in internet history. In fact, he developed a line of products and services that we are still enjoying today. Soon we’ll find out if this offering will do as well as the NFT of the source code for the World Wide Web which pulled in $5.4 million in June.
Reception so Far
With 5 days to go, the physical copy of the document is leading vs its NFT counterpart. The highest bid on Snoofa is $35,000 USD, a far cry from .60 ETH or $1,240 bid on Rarible. One of the the points being discussed by the Twitter community is why would a buyer want a digital token for a physical item. It is worth noting that the record-breaking NFT sales are all purely digital. Another point is that selling an NFT and physical copy separately goes againts NFT best practices. Usually, NFTs are paired with a physical copy or an exclusive fan experience.
Although public sentiment favors the physical copy as of the moment, things can still change until the hammer falls and final bids are in.