First Stoic ‘Access’ NFT sells for $140K
The first NFT by Stoic, an automated crypto investment app with AI, just sold for 36.75 ETH or over $140,000 at the current exchange rate. The winning bid came from someone named _satoshi.
This 1:1 NFT gives free lifetime access to the Stoic app, which offers trading strategies built for Cindicator Capital, a quant hedge fund. The holder of the NFT can connect the Stoic algorithm to a Binance account with a balance of up to $10 million. The usual Stoic’s annual fee is 5%.
Mike Brusov, co-founder and CEO of Cindicator, said:
“Selling lifetime access to a product as an NFT is a unique case. Besides its collectable value from rareness, it carries real utility in the Stoic app. The holder can manage up to $10 million with Stoic and use the NFT as an on-chain signal of credibility to unlock other opportunities.”
"This could be a sign of an emerging use case for NFTs as a way of interacting with consumers in products with limited capacity. In our case, that's access to unique trading strategies. Elsewhere it could be about auctioning limited ticket releases or selling lifetime access to the most loyal customers who want to support their favourite product. The new era of consumption is coming!" — Mike Brusov continued.
Launched by Cindicator, Stoic automatically builds and rebalances a long-only portfolio of crypto assets based on quant research and AI. Since the public release in September 2020, over 10,000 clients connected Stoic to accounts holding over $100 million in crypto. Since March 2020 until September 2021, Stoic returned +2,189%.
The Stoic NFT is named Zeno of Citium, the founder of Stoicism. He believed that happiness and peace of mind come from living by reason and nature. His ideas profoundly influenced many generations of philosophers after him.