Lil Yachty Collectible Fetches $16K in Latest String of High-Profile NFT Auctions

Continuing a trend of splashy non-fungible token (NFT) auctions in recent days, rapper Lil Yachty has sold a digital collectible for $16,050.

The lucky winner is “westcoastbill” – a user who appears to have sniped Tyler Winklevoss by $50 at the last minute. Winklevoss, a “bitcoin billionaire,” is the owner of the NFT marketplace on which the “YachtyCoin” was auctioned.

The NFT auction on Nifty Gateway follows a Lil Yachty social token sale on Fyooz last week that raised approximately $276,000 for the Atlanta-born rapper.

A Nifty Gateway spokesperson confirmed Wednesday's winning bid went to Bill Lee, a general partner at early-stage VC firm Craft Ventures.

Gemini acquired Nifty Gateway in late 2019, with Tyler Winklevoss saying in a statement at the time, “We believe that both real-world and digital collectibles will migrate onto blockchains in the form of nifties.” NFTs are provably unique digital collectibles whose provenance is tracked on the blockchain, typically Ethereum.

Earlier this week, digital artist Beeple sold a collection of NFTs on Nifty Gateway for a whopping $3.5 million. A Sean Lennon piece recently sold for $3,000.

Such are the prerogatives of the crypto-rich.