YouTube star Logan Paul just sold $3.5 million worth of crypto-backed digital art in less than 24 hours.
Paul is collaborating with Bondly, a decentralized product in the Polkadot ecosystem, to create his own line of Pokemon-inspired non-fungible tokens (NFTs).
NFTs feature identifying data in their smart contracts that make each one unique, which means that one NFT cannot be directly replaced by another and no two are alike.
On the first day of sales, Paul sold 1,772 of his NFTs priced at 1 ETH each, totaling $3,540,456 in revenue.
Paul’s NFT art was sold through the BONDSwap (BSWAP) market, a trading portal that can perform over-the-counter (OTC) transactions on chat apps or social media platforms, and between any blockchains.
Non-fungible tokens have been picking up steam in past months, and Logan Paul might not be the last celebrity to come out with their own collectible NFTs.
Cardano creator and Ethereum co-founder Charles Hoskinson said in a recent video stream that he would love to get rock legend and Cardano supporter Gene Simmons from KISS to do an NFT.
- “I’d love to talk with his people at some point about non-fungible tokens given that he sells so many collectibles and themed stuff, and branded stuff. It makes a lot of sense to test out Mary using his things…”