Disney Pixar NFT Collection sold out in no time

Less than 24 hours after the launch of digital crypto artworks by successful animation studio Disney Pixar on the NFT marketplace Veve , the 54,995 Non-Fungible Tokens (NFTs) from the “Pixar Pals” collection have already sold out. The collection included popular Pixar characters such as Sheriff Woody, Mike Wazowski, Lightning McQueen, Up House and Edna Mode. However, the NFTs were raffled "blind" because only sets with random content could be purchased, the actual content was only visible after purchase. So even less affluent fans were able to enjoy some special crypto trading cards.

The fixed price per Pixar NFT was 60 gems ($60), so the entire collection is worth almost $3.3 million. At the time of writing, each NFT is now trading for up to 350 gems on the secondary market. The NFTs on Veve are mined on the GoChain blockchain. According to the developers of the project, the network is particularly fast, environmentally friendly and 100% compatible with Ethereum ( ETH ).

Gems are Veve's proprietary cryptocurrency, trading at a 1:1 exchange rate to the US Dollar. However, it is not yet possible to exchange Gems back for US dollars. The reason for this is that so-called OMI tokens are linked to the cryptocurrency, which in turn are issued by the Veve parent company ECOMI.

When Gems are used to purchase an NFT, the equivalent value in OMI is burned/removed from circulation while the NFT reverts to the user. OMI can also be converted directly to Gems, but not the other way around.

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