Trash to treasure: GarbagePailKids NFTs sell out in 28 hours
Taking nostalgia value to a whole new level, after announcing plans to launch Non-Fungible Tokens representing the iconic (and awesome) GarbagePailKids (GPK) trading cards, WAX Exchange sold 12,000 GPK Card Packs containing 110,000 cards to collectors in just 28 hours in May.
The NFTs for GPK, a Topps brand, were launched on the WAX Blockchain this month. There were in total 12,000 packs containing 110,000 cards. The GPK cards continue to be traded (currently at a premium) on various secondary marketplaces like SimpleMarket.io. Word on the street is that a new release is coming soon, so stay tuned.
WAX exchange was initially built on Ethereum, but WAX notes that:
We soon realised this was not sustainable for us. With the high fees and low speeds we could not run our trading platform where hundreds of thousands of digital items (called NFTs or non-fungible tokens) would be traded.
Ultiamtely, this led to WAX exchange transitioning to its own WAX Blockchain to avoid congestion issues.
WAX has been invested in by Animoca Brands, which until recently was a listed on the Australian Stock Exchange and held a large portfolio of blockchain investments and partnerships including Lucid Sight, Dapper Labs (creators of CryptoKitties), Harmony, and Decentraland.