I am happy to report that I bought into a few of these last week, and now have 10 of them.
The sick sense of humour appeals to my childish mentality, as does Family Guy, The Simpsons, South Park and other American cartoon comedies. The WSJ article is linked below.
Surprisingly, fewer than 10% of the collection have been sold in the first few days, yet there is an active and increasing secondary market. When you “mint” the new Wheelies, you do not know what you are going to get, whereas in the secondary market, you know what you are buying or bidding on. They sell on OpenSea.
I have a limited amount of funds to assign to this class of “NFT Trades”, and will continue to buy and sell within that overall limit.
2 Likes
An update. The sale of the 7,777 NFTs has tanked. They have sold less than 10%. So in March, they are going to cancel the sale with the result that only the sold NFTs will remain in existence. Quite what will happen with the associated cartoon series is yet to be announced. My exposure is limited to the original cost of four NFTs, having sold 4 and retaining a further 14 from recycled cash flows.
I have put them up for sale again (all of them) on OpenSea, but I am minded to retain them for a longer term if they don’t continue to sell. If any sell, I may also pick up additional NFTs until minting ceases in March.
An interesting exercise that I expect to result in overall total loss of funds. But never say never.
Thanks for the update! It’s interesting how none of the stuff I started aren’t working out lol. All the crypto haters out there are absolutely loving it. They’re back to hating crypto and calling it scammy. Bah. Although they’ve always called it that anyway haha
