The OLGA NFT is for sale at a price of 88.88888888 BTC.
The symbolism of eternal eights aside, the old money equivalent is $4,000,000 at $45,000 per Bitcoin.
Here are eight reasons we think the price is fair:
- Olga is the first ever NFT
Despite what some may claim, I have yet to see an older true NFT. Typically the earlier pre-NFT experiments were not properly tokenized. They expired and fresh Ethereum tokens were sold in their place. OLGA is the same token today as it was in 2014.
- Olga is an archeological discovery
When I created the NFT in 2014/15 I didn’t tell anyone (except the real One & Only Olga of course). It was not until March 2021 that someone discovered it while researching vintage NFTs.
- Olga is a petroglyph
I was inspired by rock carvings. This was for several reasons. First, the blockchain is an even more durable medium than bedrock. Second, I wanted an picture of us on the blockchain but not a too explicit one. Third, I was thrilled by the idea that some day someone could discover it.
- Olga is an ENFT (and perhaps still the only one)
The image is engraved on the blockchain in one gigantic transaction. If I had rather included just a URL or a hash, the image would perhaps have been lost by now. Putting the entire artwork on-chain made it eternal, hence I use the term Eternal NFT or ENFT in short. Watch my tutorial to make your own ENFT. As far as I know, Olga is still the only ENFT.
- Olga is on Bitcoin
Bitcoin is the perfect blockchain for ENFTs. First, Bitcoin is 99% pure transaction data, so any metadata stands out. Second, the Bitcoin blockchain will be around for centuries. Even if Bitcoin is to become a tulip mania 2.0, historians will forever keep copies of the Bitcoin blockchain, and scholars will recurrently research it. Generations from now I’m confident Olga will resurface.
- Vintage NFTs are hot
The first Pepe card, RAREPEPE (2016, 1/300) was last traded at Ξ99 / $320,000. This implies a marked cap of $96,000,000. Similarly EtherRocks (2017, 1/100) have a market cap of $25,000,000. Olga (2014, 1/1) is yet to be traded but listed at about $4,0000,000 at the current rate.
- Olga is decentralized
The token follows the 2nd layer Counterparty standard. It can be sent between Bitcoin addresses just like regular Bitcoins. It is even listed on a dispenser contract, which means it can be bought anonymously if the collector so wishes.
- Olga is the One & Only
Can you find any vintage NFTs or crypto collectable with a more unique story? Olga is the One & Only in so many ways!
The token was never meant to have monetary value, yet here it is – one of the most sought-after crypto collectables. We contemplated for a while what to do with it. How can we sell our priceless token? We concluded that the meaning behind the token is what matters and a sale will not take this away from us. Rather, as we feel frustrated by ignorance and false claims in the NFT space, we believe a sale will further put OLGA and Bitcoin NFTs on the map. We expect the buyer to be more connected and more capable of promoting this One & Only piece of crypto history. This will bring us satisfaction way beyond the cash from a sale.