The Wall Street Bulls NFT collection is on OpenSea.
The company is called Wall Street Memes.
As his collection of 10,000 Wall Street bull NFTs quickly sold out in October last year, oil painter Cam Rackam was in awe.
A thousand of colorfully creative bulls riding rocket ships had already been sold in the first five minutes of the NFT collection being launched. Half of the collection was purchased in eight minutes.
It was sold out at 32 minutes.
"I was smoking a cigar in the house and I freaked out, you know, I was popping champagne," he said. I went from being an artist for 20 years to being an artist in one day.
The four people who created the Wall Street Memes account made about $2.5 million from the initial sale of the account, and continue to get royalties from NFT collectors trading the bulls. The lowest price for one of the bulls is about.2 ether.
The NFTs are a cartoonish take on the Wall Street bull statue. They're supposed to be positive for the stock market. Retail traders love to say that stock prices only go up.
Boris, a co-founder of the Wall Street Memes page, asked for his identity to be kept secret. We don't like short sellers. We don't like bears.
The NFT collection has become a way for traders to become members of a community of retail investors. bull holders have access to parties and will soon be able to win a free NFT of a new collection of Wall Street interns, according to Rackam.
The makers wanted to go beyond NFTs and community building and add risk.
Bull holders will be able to take a chance on making their NFT even more valuable with a new feature. If the NFT holders purchase the feature, a random generator will either blow up their digital collectible or make it even more rare by adding new features to the bull.
Boris said it's like trading options in the stock market. If you took a risk with your option, it could go to zero or 100x. We're going to bring that to the NFT world.
The retail trading revolution that began in January of 2016 when millions of investors banded together on the internet to drive massive gains in highly shorted stocks is what Rackam and Boris see as their collection's extension.
Boris said that the message was that people can still have control over something even if it's a small market. Everything that happened in the past year is summarized in a funny way by the NFT collection.
Business Insider has an original article.