A Pair of Socks Sold for $160,000, NFT Breaks Into Mainstream

Limited edition socks (UNISOCKS) released in 2019 were once hyped up to $160,000 per pair this year, with people wearing them being described as "low-key showing off wealth". In fact, this was an experiment called UNISOCKS launched by the Uniswap team on May 9, 2019. 500 pairs of limited edition socks were anchored as 500 ERC-20 standard tokens called SOCKS. Due to a special curve function adopted in the UNISOCKS smart contract, the price of the socks changes with supply and demand variations.