According to CCN, CEO of Litecoin, Charlie Lee has been auctioning off “unique collectibles” during New York’s Magical Crypto Conference last week. Said collectibles are deemed physical LTC coins in the form of statues that the CEO has signed himself.
Here’s what has been shared in terms of how the coins have been created and who has been involved:
“I got some of my Lealana 25 LTC and 10LTC coins graded by ICG. There is a total of 5x 25 LTC coins and 8x10LTC coins. I have no plans to do any more of these. The 10LTC are the first issue ones with the bump in the back behind the hologram.”
Here’s someone who has successfully gotten hold of a 10LTC. The user, Nick Foley, has since shared the beauty on twitter:
Originally found on Twitter, Found on CCN.com
As for the collectibles, Lee has supposedly gotten Independent Coin Graders to assess its quality, primarily focusing on its condition and uniqueness. In regard to the uniqueness factor, only a few of these collectibles are signed by Lee.
The auction is scheduled to end Wednesday, May 15, and the starting bid is at 0.1 LTC – with the option of financing in BTC as well. It is ironic considering the fact that Litecoin is supposed to be “a better version” of Bitcoin.
Interestingly, CCN pointed out that no one really regarded the fact that Lee was the same person who sold his Litecoin holdings at the peak price of roughly $300/ coin – where the crypto token experienced a significant drop in value soon after.
As for the auction itself, while some were enthusiastic, others expressed their distaste for its like, adding that traders should have bear in mind the fact that Lee was more or less a sellout. In particular this user, who shared their thoughts on the Bitcoin Forum, shared:
“The guy made millions and had 1000’s and 1000’s of Litecoins and sold them all at $300 and he has the audacity to sell these coins for his own profit. Donate the proceeds or something.”
Lee, who has since come across this comment, responded that he has been donating his proceeds and what he makes from the auction is “pale” in comparison to how much he has given away. He also shared that the goal behind the auction is to offer a unique collectible, not so much profitability.
However he says he, “can see how it can come off” as if he wants to “gouge people of more money.”