Monday, December 5 2022

As far as top-selling license plates go, the most expensive ever sold in the United States was a Delaware plate containing the number “11”, which cost $675,000 in 2008. Delaware reportedly began issuing plates in numerical order, with the lowest numbers serving as a “status symbol” for the wealthy (via CBS). Butch Emmert of Emmert Auctions told the publication that having a low-number Delaware license plate is “more important” than driving a Rolls Royce. So if Delaware’s double license plate is worth six digits, then why is California’s double M vanity plate selling for over thirty times that?

The current owner (and potential seller) of the MM plate, Michael Modecki, said in an email that his reasoning behind the MM plate’s ridiculous price is actually quite solid considering it’s more than a single sheet of aluminum. Modecki thinks the MM plate and its paired NFT are already valuable on their own, but when combined they can be “worth so much more”. For starters, his NFT alone not only has a market value of over $11 million, but also serves as a means of authenticating the plate’s ownership history. This makes virtually anyone able to verify their legitimacy even decades from now. Taking into account the rarity of the plate, as well as its proof of ownership contained in a tamper-proof decentralized blockchain, it becomes a package as unique as it is authentic.


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