Logan Paul Raises $3.5 Million in One Day from NFT Sales
By Ryan James
21 February 2021, 16:22 GMT+0000
Updated by James Hydzik
21 February 2021, 16:23 GMT+0000
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IN BRIEF
- Logan Paul launched an NFT sale for 3,000 personal NFTs.
- He sold 1,772 NFTs on the first day, totaling $3.54 million.
- NFT adoption continues to see a rise in usability.
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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.
Logan Paul made $3,540,456 in 1 day.
• Dropped the 1st Logan Paul NFT yesterday
• 3000 NFTs available
• Price: 1 ETH per NFT (1 ETH = $1998 rn)
• Sold 1772 NFTs so far
• $1M in sales in first 30 min
• 3 buyers will win 1st Edition Pokemon Pack (~$40K) pic.twitter.com/FuLdZYaNnW
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.
