Edward Fairchild, one of the founders of Los Angeles-based cannabis company THC Design, revealed that he "stumbled" into buying a nonfungible token, or NFT, from acclaimed digital artist "Beeple" that has since increased in value 30,000% since he purchased it in December 2020.
Recounting the story in an article published by Business Insider on Sunday, Fairchild noted that despite being a long-time fan of Beeple, he didn't have any knowledge about NFTs and had little faith that anybody would want to collect tokenized art at the time of the purchase.