Theranos Stock Certificate to Be Sold as NFT by Early Investor

NFT

Of course, there’s now a Theranos NFT

US entrepreneur Marc Ostrofsky, who was an early investor in the infamous Theranos biotech scam, now wants his money back by auctioning his Series A share certificate signed by none other than Elizabeth Holmes as a token non-fungible.

Aptly named “The Rise and Fall of Theranos,” the NFT has appeared on the OpenSea marketplace with a starting bid of 1 ether ($4,044). 

The winner will be able to exchange the token for the physical certificate.

The auction will last until Dec. 23, the final day of jury deliberation before Christmas.       

Ostrofsky says he issued the NFT to take advantage of the opportunities offered by the new technology:

Over the course of my career, I’ve tried to continually identify hot new trends in the marketplace to capture the ‘first mover’ advantage.

He invested $ 100,000 in Theranos during the company’s Series A funding round.

In 2015, the former darling of Silicon Valley investors reached its peak valuation of $10 billion, with Holmes becoming America’s wealthiest and youngest self-made female billionaire.

However, an investigation initiated by John Carreyrou of the Wall Street Journal led to the demise of the startup, whose revolutionary blood testing technology turned out to be a sham.

During seven days of testimony, Holmes was attempting to pin the blame on former Theranos president Ramesh “Sunny” Balwani, who was also her boyfriend. Relying on the Svengali defense, she painted Balwani as an abuser who controlled her life.  

The jury will begin deliberating after closing arguments in the case on December 17.

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