Mon, 28 Mar 2022 11:32:03 +0000
Legendary NFT artist, XCopy, once again sent the non-fungible world into a frenzy with his latest collection, resulting in the star creator accumulating an insane $23 million in ETH in just 10 minutes.
The latest drop saw epilepsy inducing X-Copy creation, Max Pain, take centre stage, arriving in a whirlwind 10-minute sale on the NiftyGateway marketplace. During which, fans had just a small window to claim one of the unprecedented collectibles.
During the time sensitive event, collectors were offered an unlimited number of NFTs at 1 ETH a pop. Once the timer reached zero however, the opportunity to mint further items was lost forever. When the dust had settled, and the frenzy abated, 7,394 NFTs had found a new home, and XCopy was 7,394 ETH better off.
It’s been 1 minute and XCOPY has sold 3,000+ open editions for 1 ETH each.
— Loopify (@Loopifyyy) March 24, 2022
At the time of sale, each NFT sold for approximately $3,108, while at the time of writing, the floor price stands at $4,300. What happens next however, will rely heavily on the demands of the market. Most importantly, whether people remain prepared to spend relatively large sums on one of 7,394 identical items.
Going forward, the community is awash with speculation as to how XCopy will use the new found funds. Specifically, how much, if any, will return to the NFT sphere as liquidity.
Check out Max Pain >> Here
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