Monday, September 25, 2023
HomeImmutableXPixar NFT drop sells out on VeVe shortly after launch

Pixar NFT drop sells out on VeVe shortly after launch

Within 24 hours of launch on the digital collectibles market Veve, crypto enthusiasts Purchased All 54,995 non-fungible token (NFT) collections of Disney Pixar Pals. Drops are Sheriff Woody, Mike Wazowski, Lightning McQueen from home Up When Edna mode. The user purchased the NFT from the blind box. That is, you will receive a random collection as part of the series and will not know which collection until payment is complete.

Pixar Pal NFT Collection | Source: Pixar / Disney / VeVe

The list price for each Pixar NFT was 60 gems ($ 60). Multiplying the prices of the gems listed in the collections sold, the NFT collection is estimated to have acquired $ 3.3 million worth. At the time of publication, Pixar Drops items are sold in the secondary market for up to 350 gems. VeVe NFTs are currently written in Immutable X.

Gems is a VeVe in-app token that can be exchanged for digital assets 1: 1 with US dollars. However, conversion The gems that have returned to fiat money are still in the testing stage. This is because there are currently incentives associated with holding OMI tokens created by VeVe’s parent, ECOMI.

Whenever you purchase an NFT using gems, 100% of the equivalent value of OMI will be burned from the token supply while the digital collectibles are transferred to your account. Similarly, OMI can be converted to gems, but not the other way around. Speculation That means it may lower the price of the former.