Topps NFT Launch Opens With Highs and Lows
Photo by Mark Brown/Getty Images. Pictured: Topps
Topps entered the sports card NFT world on Tuesday by selling more than 74,000 packs on the Wax platform in approximately 70 minutes.
The company planned to make packs of cards, which mimic its 2021 Series 1 set, available at 1 p.m. ET, but the amount of people trying to get in overtaxed the site. With a new launch time of 1:30pm, the log jam cleared and the 24,000 premium packs available for purchase at $100 apiece went first.
Things didn’t go perfectly, with the biggest complaint being that deals that appeared to go through on a collector’s credit card didn’t result in packs winding up in that collector’s wallet, a common refrain that is similar to many other highly coveted NFT launches like Top Shot and Zed Run.
By 3 p.m. ET, the price of a WAX token had risen more than seven percent on the day, while Mudrick Capital Acquisition Corp, which announced earlier this month that it was acquiring Topps in a deal that values the company at $1.3 Billion, was down more than eight percent.