A 2007 viral video has sold for AU$986,000 (US$761,000) as a non-fungible token, however it will remain on YouTube, where anyone can watch it for free.
The “Charlie Bit Me” video, which shows a toddler Charlie bite his older brother Harry’s finger, sold on 23 May after a 24-hour auction.
Previously, its seller, the father of Harry and Charlie, Howard Davies-Carr had said the video would be removed from YouTube.
However, in a statement following the sale, Davies-Carr said the video would remain on the platform.
The video has racked up more than 885 million views. Dubai-based music studio 3F Music purchased the NFT, with the sale price surpassing other NFT meme sales, including ‘Disaster Girl’, which sold for US$500,000.
"After the auction we connected with the buyer who ended up deciding to keep the video on Youtube," Davies-Carr told Quartz.
"The buyer felt that the video is an important part of popular culture and shouldn't be taken down. It will now live on Youtube for the masses to continue enjoying as well as memorialized as an NFT on the blockchain."
Why is it worth $986,000 when I can watch it for free?
Purchasing an NFT is essentially the same thing as purchasing a collectors item, like a first edition novel or a signed player card.
Davies-Carr said he and his family had originally planned to delete the clip to increase the sale price.
Most of the sale cash will go towards Harry and Charlie’s university education, while funds will also be sent to carbon offset charities.
Cryptocurrency mining has been in the spotlight recently over its huge footprint: Bitcoin mining uses more electricity than entire countries, like Ireland.
"I have dabbled in mining but only when I have excess power being generated from my solar panels," Davies-Carr said. "This is something Harry and Charlie feel very passionately about, and they will be the next custodians of the planet."