Azuki NFTs set the record for the most expensive skateboard in history

NFT issuer Azuki has set the record for the most expensive skateboard sale in history – both digitally and physically.

Nine “Golden Skateboard” NFTs make up the latest Azuki collection, with all but one sold at auction on Saturday, raising $2.5 million.

A collector known as dingaling.eth gave away 309 ether (ETH), or $404,000, in the Azuki Golden Skateboard NFT auction on Saturday. He bid seven times to win the dragon emblem, now the most expensive in the set.

Seven other winners also bought into Azuki’s latest streak.

Each skateboard is adorned with a unique emblem that holds significance in Azuki lore, granting holders a permanent role in Azuki history – “cementing yourself as part of Azuki mythology” according to the company.

the “frog emblem” Golden Skateboard NFT received the lowest bid, worth 200 ETH ($270,000). The remaining six NFTs fetched between 202 ETH and 303 ETH.

Azuki NFTs have quickly risen to blue-chip status and are known for their anime-style avatars. The overall vision is to create a “decentralized anime universe that combines the physical and digital,” Azuki tweeted.

Azuki Skateboard NFTs can be redeemed for the real thing

The cheapest of Azuki’s original 10,000 generative art NFTs is currently 11.49 ETH ($15,300) with a market cap of 114,900 ETH ($153 million), per NFT floor price, about 85% lower than the most valuable NFT collection, Bored Ape Yacht Club.

Azuki’s digital golden skateboards can be redeemed for physical skateboards plated with 24-karat gold, but the holder must burn the NFT.

The physical skateboard element translated to a much higher floor price for the skateboard NFTs, but a smaller market value than the original collection, which makes sense as the new iteration is more exclusive.

The NFTs are considered Physically Backed Tokens (PBT) – a standard that links the ownership of physical assets to their digital versions on Ethereum. This is different from a phygital offering that usually separates physical and digital items by embossing.

In this case, Azuki has embedded each skateboard with a PBT-based BEAN chip, a cryptographic chip that links the physical item to its digital token. This enables owners of the physical asset to unlock digital benefits and experiences.

Some of the perks include a dragon banner display and a dragon emblem added to each collector profile on Azuki’s website. Auction winners will be able to claim their physical golden skateboards in November, according to the company.

This activity has placed the Azuki collection in third place on the OpenSea leaderboard in terms of sales volume over the past seven days.

Azuki’s skateboard sales surpass what was once considered the most expensive skateboard ever sold – a $38,425 table featuring handwritten lyrics from Bob Dylan’s hit song, “Blowin’ In The Wind” and signed by professional skateboarder Jamie Thomas in 2012.

However, Azuki boards are not the first gold-plated ones to hit the market. In 2014, a father-and-son duo from metal coating company Epner Technology tried to sell their version of a golden skateboard for $15,000, though it’s not clear if that attracted any buyers.

“Please consult your doctor before trying to ride a 45 lb skateboard,” Azuki tweeted.

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