Distinctive license plates have change into massive enterprise in recent times and somebody is attempting to promote a plate that reads ‘MM’ in California.

The plate has been listed up on the market on OpenSea, a preferred NFT market with an asking value of 5,888 Ethereum, the equal of $24.06 million at present costs. If it sells for that a lot, it could possibly be the costliest license plate ever bought.

The vendor of the plate has created his personal web site to advertise the public sale and claims that there aren’t any single-character plates obtainable in California, making two-character plates the rarest obtainable to the general public within the state. Particulars in regards to the plate’s historical past aren’t recognized however we do know the bodily plate and an NFT will likely be bought as a bundle. The MM seems to be the initials of the vendor, Michael Modecki.

Learn Additionally: How A lot Is A “New York” New York License Plate Price? Its Proprietor Is Asking For $20 Million

The most costly license plate to promote publically within the U.S. was the quantity ‘6’ in Delaware which bought for $675,000 in 2008. The most costly plate bought ever was the quantity ‘1’ which bought for $14.8 million at an Abu Dhabi public sale in 2009.

Talking with the DuPont Registry, the proprietor of the plate mentioned he desires to “set up a brand new wealth alternative for homeowners of non-public license plates.”

“I need the sale to display a brand new use for NFTs in a bodily house,” he mentioned. “I additionally need to set up a brand new wealth alternative for homeowners of non-public license plates. Being the primary minting of its variety, I can solely think about the status that may observe the MM plate from proprietor to proprietor, without end. License plates already maintain worth by being 1-of-1. The pairing of NFT authentication with tangible gadgets like license plates, on this case, is the best way of the longer term. So, let’s make historical past, outline the longer term, and let the world know we did.”

After all, whereas the plate has an asking value equal to over $24 million, that doesn’t imply it would promote for that value, or wherever close to that value the truth is.