All 54,995 pieces of the Disney Pixar NFT Pals, collection were purchased by crypto enthusiasts within 24 hours of its introduction on Veve’s digital collectibles market.

The Pixar drop featured characters and events from the studio’s films, including Sheriff Woody from ”Toy Story”, Mike Wazowski from ”Monsters INC”, Lightning McQueen from ”Cars”, The House from the movie ”Up”, and Edna Mode.

 

Customer’s experience

 

 

Customers acquired their Pixar NFT from a blind box, in which they received a random collectible as part of the series and would not know what it was until after payment.

The lowest price for each Pixar NFT was 60 gems ($60). It is estimated that the NFT collection was worth $3.3 million when you multiply the collection sold by its gem price. The secondary market is flooded with Pixar items, which are selling for up to 350 gems at the time of writing. NFTs on VeVe are produced using Immutable X.

 

What is VeVe?

 

VeVe is a blockchain-based app that uses VeVE coins as in-app tokens that may be exchanged for digital assets on a one-to-one basis with the US dollar. However, the capability to turn gems back into fiat is still in beta testing. This is due to the fact that VeVe’s parent, ECOMI, offers a similar incentive by issuing OMI tokens, which are created using VeVe’s technology. Gems burn a portion of the value of OMI when they are used to obtain an NFT, with 100% of the equivalent value being burnt from the token supply and the digital collectible sent to the user’s account.

OMI can be transformed into gems, but not the other way around, owing to concerns that it would harm the price of the latter.VeVe’s NFTs are presently minted on GoChain. Its developers claim that the blockchain is quick, ecologically beneficial, and fully compatible with Ethereum (ETH).

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