Logan Paul Raises $3.5 Million in One Day from NFT Sales

This post was originally published on this site

Non-fungible tokens (NFTs) are all the rage right now. So it comes as no surprise that when an internet celebrity like Logan Paul launches his very own NFT, money is made.

Logan Paul released his very own NFT this weekend. The popular YouTube star recently made his foray into the cryptocurrency space, like most internet celebrities. However, Paul has taken it one step further by launching his very own NFT sale. 

Bondly Runs Paul NFT Sale

Paul partnered with Bondly to handle the NFT sale. Bondly is an interoperable, transparent, and portable swap designed to turn your wallet into your own crypto.

The sale launched on Saturday and managed to raise an impressive $3.54 million on day one. The sale featured 3,000 NFTs, with each costing 1 ETH. Paul managed to move 1772 NFTs on the first day. Once the sale concludes, three lucky holders will stand a chance to win a Pokemon 1st Edition Booster Pack valued at $40,000. Included in the prize is a paid flight to attend the box break live in LA. 

The NFT sale by Paul is impressive because it combines an internet celebrity with blockchain and NFTs. Paul’s sale through Bondly becomes one of the most successful sales in recent history, with $1 million in sales within the first 30 minutes. The sale will conclude by the end of the weekend with any unsold NFTs being burned. 

NFT Adoption Growing

The sale is a huge step forward in the NFT sector of crypto. NFTs have really begun to gain traction in 2021. Most recently, billionaire businessman Mark Cuban called NFTs “Game changing”. Cuban is no stranger to NFTs, having launched his own NFT, titled “The Rollup 2021”.

Other notable NFT sales include the recent sale of Rick and Morty TV series artwork. The artwork was sold on NFT-based art site Nifty Gateway. The artwork sold for $150,000. 

Most recently, digital art producer Beeple announced that he would be auctioning a piece of his work through British auction house Christie’s. The artist recently also completed a sale of NFT artwork on Nifty Gateway for $3.5 million. 

The growth and popularity of NFTs in recent weeks is clearly gaining traction as a method to sell digital art, run competitions and manage transactions seamlessly. With influencers such as Logan Paul utilizing blockchain technology to run competitions it is clear that it won’t be stopping anytime soon. 

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Share Article

Ryan is a Fintech specialist with a passion for cryptocurrencies and blockchain adoption. He discovered Bitcoin in 2016 when investing in a Ponzi scheme, and it was the best decision he ever made.

Follow Author

Leave a Comment

%d bloggers like this: