There are plenty of things to discuss after the Oscars, but one thing is clear: Pixar is once again the talk of the town after dropping a trailer for their new spin-off movie Lightyear.
Featuring everyone’s favorite toy spaceman, this movie promises to push box office sales “to infinity and beyond.” But behind the scenes, Pixar is cashing in on its legendary characters in a very different way, and NFT investors can’t get enough of it.
Back in mid-March, the company launched a set of NFTs called “Pixar Pals.” These NFTs feature some of Pixar’s most iconic characters from movies like Toy Story, Cars, Ratatouille, and many others. When they hit the NFT market, the tokens were divided into three categories: common, rare and ultra rare. However, it didn’t really matter how these NFTs were classified, as all three categories sold out soon after they were released.
In fact, Disney Pixar successfully raked in $3 million in sales from these NFTs, and the prices are likely to rise even further on the secondary market. The fact that these NFTs sold out so quickly is quite surprising, given that investors were shopping blind.
In other words, they didn’t know what they had actually purchased until they handed over their money. Some received rare Edna Mode tokens, while others received a Woody NFT. Each blind box cost about $60 – quite a steal when you consider the fact that these tokens will likely soar in value after secondary sales are taken into account.
How Can I Get My Hands on a Pixar Pal NFT?
You may need to wait a while if you want to get your hands on a Pixar Pal NFT. Since the initial release sold out, everyone who has one of these tokens seems to be holding on. That being said, we should see a few start to hit the market relatively quickly.
As of now, investors are complaining about how difficult it is to actually acquire one of these NFTs. Of course, you could always just wait until the next drop, as Pixar will inevitably release more of these tokens on the heels of such a successful first release.
Is Disney Good for the NFT Market?
Investors can’t seem to decide whether VeVe and Disney are good for the NFT market. On one hand, some point out that this massive entertainment company has successfully attracted millions of new investors to the NFT economy for the first time.
On the other hand, some voice concerns that when Disney pumps the market with hundreds of thousands of new NFTs on a regular basis, it could cause the bubble to burst.
After all, how many people can actually afford these NFTs, and when does the supply start to outweigh the demand? As of now, it seems as though NFT collections like Pixar Pals are still popular enough to sell out within 24 hours. Perhaps that’s all that matters.