Disney Pixar Pals NFT recently just launched on the Veve marketplace and have sold all of its 54,995 pieces, this is barely after 24 hours of its launch. It appears the collection sold for an equivalent of $3.3 million.
Sheriff Woody, Mike Wazowski, Lightning McQueen, The House from Up, and Edna Mode were among the Pixar Animation Studios characters featured in the drop.
Users bought NFTs from a blind box, which means they got a random item as part of the series and didn’t know which one until after they paid.
Each Pixar NFT has a list price of 60 gems ($60). The NFT collection is believed to have sold for $3.3 million by multiplying the collection’s sale price by the reported gem price.
On the secondary market, items from the Pixar drop are selling for up to 350 gems at the time of publication. On GoChain, VeVe NFTs are now being coined. The blockchain’s creators claim that it is quick, ecologically benign, and fully compatible with Ethereum (ETH).
Gems are VeVe’s in-app tokens that can be exchanged for digital assets at a 1:1 ratio to US dollars. The capacity to change gems back into fiat currency, on the other hand, is currently being tested.
This is due to a present incentive associated with owning OMI tokens, which are generated by VeVe’s parent company, ECOMI.
When gems are spent to buy an NFT, the same amount of OMI is burned from the token supply, and the digital collectible is transferred to the user’s account. As a result, OMI can be converted into gems but not the other way around due to concerns that doing so would devalue the former.