Price of NFTs from GQ magazine’s collection has halved in two days after the release
The creators failed to sell out all the issued tokens
10.03.2023 - 12:55
245
2 min
0
What’s new? On March 8, GQ, the men’s lifestyle magazine, released its own collection of non-fungible tokens (NFTs) called GQ3. By the morning of March 10, only 1060 of the 1661 tokens were sold, and their minimum value fell to almost half of its original value, from 0,1957 to 0,1 ETH (from $270,9 to $138,4 at the Binance rate as of 12:00 UTC). This is evidenced by data from OpenSea, the largest NFT marketplace.
How does GQ comment on the situation? In social networks, Discord and Twitter, representatives of the magazine reported that at random they would distribute half of the unsold tokens among holders of GQ3. That said, the tweet was later deleted.
“We are going to reward all those who supported our artists and believed in GQ3 by sharing an Issue 001 token to a randomized 50% of unique holder wallets,” the magazine’s representatives wrote, inviting NFT recipients to “share with a friend.”
Each token of the collection offers owners a variety of benefits: a year’s subscription to a print or digital version of the magazine, accessories, party passes and priority access to future NFT drops.
Porsche introduced a collection of 7500 NFTs in late January, but after releasing 2363 assets, suspended their creation due to low sales. Thereafter, the minimum value of tokens rose to $5200 at a moment’s notice, and the collection took the top spot in terms of the daily trading volume.
The March auction to sell the NFT TwelveFold series on the Bitcoin network brought Yuga Labs $16,5 million per day.
Later, Web 3.0 company Forkast Labs launched a set of non-fungible token market indices: Forkast 500 NFT, Forkast SOL NFT Composite, and Forkast ETH NFT Composite. They are the cryptocurrency equivalents of stock market indices such as the S&P 500 and Nasdaq Composite.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$98 882
BTC
+0.3%
-
Ethereum
$3 318.52
ETH
-1.49%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.45
XRP
+20.77%
-
Dogecoin
$0.410284
DOGE
+6.31%
-
Cardano
$1.01
ADA
+24.35%
-
Stellar XLM
$0.34322
XLM
+35.9%
-
Bitcoin Cash
$487.09
BCH
+0.2%
-
Polkadot
$6.57
DOT
+10.7%
-
Litecoin
$91.05
LTC
+2.29%