NBA Star Dwight Howard’s NFT Collection Falls Flat
NBA champion Dwight Howard recently launched a collection of 3,000 NFTs on the Avalanche network, but the debut was disappointing. The collection, called “Ballers by Dwight Howard,” only attracted a few buyers, with less than 10% sold after a day. In response to public backlash about the art quality and value of the NFTs, Howard announced a redesign and offered incentives to attract more collectors.
Howard’s Attempts to Salvage the Situation
In an effort to boost interest in Ballers, Howard promised to send 1 AVAX (about $30) to ten different Ballers holders for every 100 additional NFTs minted. He also pledged to buy an NFT from another project for every 100 Ballers NFTs minted. However, these tactics didn’t have much success. So far, only 457 Ballers NFTs have been minted, representing around 15% of the original supply.
Avalanche Network Distances Itself from the Project
Due to the negative buzz surrounding Ballers, Ava Labs, the company behind the Avalanche network, clarified that they had no involvement with the project. Jake Cvengros, a business development executive at Ava Labs, stated that individuals or brands with large followings can no longer expect instant success with NFT drops.
Hot Take: A Lesson in Celebrity NFT Launches
The disappointing performance of Dwight Howard’s NFT collection serves as a reminder that celebrity-backed projects don’t guarantee success in the current NFT landscape. Quality and value are essential factors that collectors consider when deciding whether to invest in an NFT collection. The days of immediate success for high-profile individuals or brands in the NFT space are over, and careful planning and execution are necessary for a successful launch.
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