Jailed Dark Web Marketplace Founder Ross Ulbricht to Auction NFT Artwork, Proceeds to Fund His Release Efforts

The NFT collection is titled “Ross Ulbricht Genesis Collection” which will include writings, artworks, and animation with a voice-over by Ulbricht.

By Radhika Parashar | Updated: 1 December 2021 19:07 IST

Jailed Dark Web Marketplace Founder Ross Ulbricht to Auction NFT Artwork, Proceeds to Fund His Release Efforts

Photo Credit: Ross Ulbricht

The NFT collection will feature sketches and writings of Ross Ulbricht

Highlights

Biddings to open from December 2 to December 8
Images of the artwork have been posted on Twitter
Proceeds said to help other prisoners as well

Ross Ulbricht, the imprisoned founder of the now defunct dark Web marketplace called “Silk Road” has decided to auction some of his artwork as non-fungible tokens (NFTs). These pieces of art are being chosen from different phases of Ulbricht's life so far. All ten of Ross's original artworks and writings, as well as an original animation compiled into one singular NFT, will be open for biddings from December 2 to December 8. In a blog post, Ulbricht has said that he is also using artwork to show his story from being a toddler to finding himself behind bars at the age of 29.

“I was 29 years old when I was arrested. Suddenly, sitting in prison, I had time for drawing again. Then one day, I was told ‘you should sell your art as an NFT',” the Silk Road founder said in the post titled “My NFT”.

Titled the “Ross Ulbricht Genesis Collection”, the collection will include writings and artworks by Ulbricht. An original animation with Ulbricht's voiceover narrating his prison experience will also be part of his first NFT series.

Budweiser to Launch Nearly 2,000 Heritage Edition NFTs

A Twitter handle run by Ulbricht's “loved one from the free world” posted black and white glimpses of his artwork.

We are going to start the NFT auction at $1.

I want everyone to have a chance to participate, and I trust the community to find the right value.

Happy bidding and good luck! https://t.co/7aAJ94A69h
— Ross Ulbricht (@RealRossU) November 29, 2021

My NFT auction will start in 2 days! ????https://t.co/jtOPsEH9ME
— Ross Ulbricht (@RealRossU) November 30, 2021

Ulbrichit has remained in prison since October 2015 when he was sentenced to two life terms.

He launched a dark Web marketplace Silk Road in February 2011, that allowed the purchase of anything including banned substances via Bitcoin.

Along with funding his own efforts to get freedom from jail, Ulbrichit has other plans with the proceeds this NFT auction will raise.

“With proceeds from this NFT, we are starting a donor-advised fund called Art4Giving, dedicated to relieving the suffering of the incarcerated and their families. There is a lot we can do, but one idea I am committed to is to help kids travel to visit their moms and dads in prison,” the blog explained.

NFTs are digital collectibles with their ownership transferrable and locked on the blockchain network. Fidenza digital artwork number 938 called “God Mode” priced $8.5 million (roughly Rs. 63 crore) has been declared the first most expensive NFT in the history of the industry and is owned by rapper Snoop Dogg.

NFT sales volume surged to $10.7 billion (roughly Rs. 79,820 crores) in the third quarter of 2021, up more than eightfold from the previous quarter, according to data from market tracker DappRadar.

Surging sales and hefty prices on NFTs - items which do not physically exist - have baffled many, but the multifold growth shows little or no depreciation whatsoever.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Ross Ulbricht, NFT

Radhika Parashar

Email Radhika

Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More