A 1973 job application from one of the most well-known business leaders of all time is hitting the market as a non-fungible token.
What Happened: The 1973 hand-written job application from Apple Inc (NASDAQ:AAPL) founder Steve Jobs is launching as an NFT today at 12:41 p.m. ET. The auction format will pit the digital version in direct competition with the physical asset, according to the press release.
Simultaneously held auctions will offer collectors the chance to own the digital or physical version of the job application. Both are for sale and could offer an exciting battle of physical vs. digital as a case study of value in 2021.
“The Steve Jobs hand-written 1973 job application auction aims to highlight the modern shift in perceived value – the physical or the digital,” Olly Joshi said. Joshi is a digital entrepreneur and the creator of the NFT vs. physical auction for the application.
The auctions will be live for seven days, launching at 9:41 a.m. PT to coincide with the time Jobs would reveal new products at Apple events and the time featured on clocks for Apple products.
The NFT was created in partnership with Rarible, a leading NFT marketplace. The NFT will be available for purchase with Ethereum (CRYPTO: ETH), while the physical asset can be purchased for U.S. dollars or Ethereum.
The physical job application sold for $18,750 in 2017 and has gone to auction twice since then increasing over 1,200% in value. The last sale was $224,750 for the application earlier this year.
A portion of the auction proceeds will be donated to charity partners Cancer Research Institute and One Laptop Per Child.
Related Link: How To Own A Piece Of An Original 1976 Apple I Computer
Why It’s Important: The job application could be a big piece of memorabilia for an Apple fan. The application also shows an early look at Job’s life prior to joining Apple. The application is one year before he joined Atari.
On the application, Jobs lists interests and skills including computers, calculators, design and electronics tech.
Jobs had no phone at the time and also lacked probable access to transportation, despite having a driver’s license. Jobs listed his address as “reed college.”
The price point of the NFT could prove an important lesson in the rise of valuation of digital assets or could show that physical assets are still more valuable.
“We believe this will be a massive proof point for NFTs and their role in culture,” Joshi said. As Jobs said, is it time to “think different,” he asks.
“This unique auction format will truly test where value lies. Obviously I’m fighting on the NFT side,” Rarible co-founder Alexander Salnikov said.
Photo: Steve Jobs in 2007, via Ben Stanfield/Flickr