Bill Murray successful launched an NFT drop on Coinbase's beleaguered NFT marketplace. It could be prove to be a blueprint for others to follow.
Copyright 2022 The Associated Press. All rights reserved.Last week in collaboration with theCHIVE online community and its branding subsidiary Project Venkman, actor and comedian Bill Murray successfully launched the first drop of his Bill Murray 1000 NFT collection.
The collection activates Bill Murray fans by also offering specific utility such as in-person events with Bill Murray, rare coins minted for the collection, exclusive merchandise, and membership access to The Shack - a Discord community filled with other NFT holders. The Breezyverse project launched on June 30th at a public mint price of $420, and despite having 116 million Instagram followers, to date only 748 NFTs of the total collection have been minted. Whereas the project team had hoped to achieve ~$4 million in primary sales, they have only been able to raise ~$300,000.
“The most exciting part of this drop is to see that over 60% of the owners immediately joined the member chat on Discord. Most of the secondary trading stayed on Coinbase NFT, showing that adding drops helped drive secondary trading volume and adoption.”Up until the launch of its inaugural primary drop, Coinbase’s NFT platform had been floundering, seeing all-time trading volume of just $3.4 million from 9,700 total users.
Successfully meeting these criteria could also help the assets maintain their value long after the initial drop. The Bill Murray collection has a floor price of 14 ETH , a +900% increase from its sale price of 1.5 ETH. Floor prices represent the cost it would take to acquire the cheapest asset for sale in the collection.
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