- Cam Rackam, an oil painter, was impressed as his collection of 10,000 Wall Street bull NFTs immediately sold out in 32 min back in October.
- Individuals with many bulls would soon be eligible for a free NFT of a new collection of Wall Street interns.
A thousand of the colorfully creative bulls riding rocket ships had been sold in the first five minutes of introducing the NFT collection aimed at the retail traders driving the GameStop craze. Half of the collection had been acquired in around eight minutes.
“I was popping champagne and smoking a cigar in the home and I freaked out, you know, I flipped out,” Rackam admitted.”I went from being an artist for 20 years to all the planning and hard work paying off majorly in the blink of an eye.”
The developers wanted to create a path for retail merchants to add an extra layer of danger to their NFTs
The four founders of the Wall Street Memes Instagram account, which was inspired by the famous Wall Street Bets Reddit, which is credited with beginning the meme-stock fad, made around $1 million. $25 million on the initial sale and continue to receive royalties from NFT collectors who trade the bulls. According to OpenSea, the lowest price for one of the bulls is presently around 0.2 ether, or around $638.
The NFTs, which are art-housed of digital works on the Ethereum blockchain, is a sarcastic twist on the renowned Wall Street bull statue. They’re meant to represent the stock market’s optimism.
“We’re just bulls,” said Boris, a co-founder of the Wall Street Memes page who wished to remain anonymous. He added, “We hate short-sellers. We hate bears.”
- The NFT collection has evolved into a way for traders to formally join a retail investor group. Rackam stated that bull holders have access to gatherings and parties and that individuals with many bulls would soon be eligible for a free NFT of a new collection of Wall Street interns.
The developers went beyond NFTs
- A new gamification element will allow bulls to gamble on making their NFT more valuable – or worthless.
- If NFT holders purchase the function, a random generator will either blow up their digital item or make it even rare by adding new characteristics to the bull.
- Rackam and Boris see their collection as a continuation of the retail trading revolution that began on Reddit in January 2021, when millions of investors pooled their money to profit nicely from widely shorted stocks like GameStop.
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