The auction will be conducted on OpenSea, and the bidding ends today. The winner can pay for the truffle with either cryptocurrencies or regular cash. He/she will also get an NFT to prove its authenticity, plus a copy of the physical certificate when they take ownership of the giant truffle. The blurb on OpenSea reads:
While the auction of a giant truffle via NFT is new, edibles have been part of the NFT world for some time. Several startups are using blockchain to promote food provenance.
Among the best-known establishments to adopt this system is a Boston-based started called LegitFish, which has been working on blockchain traceability solutions since 2018. Ecogistix has also been developing product traceability solutions using blockchain for at least half a decade.
According to Planche, NFTs are a perfect way to demonstrate how new technology can be used to support and even strengthen long-standing cultural traditions.
His idea is not just to make money but to use the blockchain to prove the authenticity of his giant fungi to the consumer.
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Source: Cryptocurrency - investing.com
