“From $150,000 to $215: A Look at the Wild World of NFTs and their Surprising Results”

1: franklin, logan paul, micah johnson, bored ape, ftx, sam bankman-fried, pixelmon nfts, coinbase, team solomid (tsm), pseudonymous nft collector bardstocks, pranksy, opensea, and emily “pplpleasr” yang were all involved in a series of events related to non-fungible tokens (nfts). franklin placed a “joke” offer of 100 eth (about $150,000 at the time) on a long-winded ens domain from an alternate wallet, logan paul spent $623,000 on an nft from 0n1 force, artist and former mlb player micah johnson’s akutars project took in tens of millions of dollars’ worth of eth during the mint, bored ape sold an nft for just $115, ftx entered the nft space in april 2021, and pixelmon nfts were not well-received.

2: the events took place over the course of several months, beginning in january 2021. ftx’s collapse and criminal charges for founder sam bankman-fried happened in april 2021, and coinbase had planned to create a short film trilogy based on the pixelmon nfts. ftx teamed up with solana nft game aurory and esports giant team solomid (tsm) to launch limited-edition nfts. one of the auctioned nfts benefited charity and pseudonymous nft collector bardstocks paid $380k for two aurory pfps with ftx apparel. pranksy paid $143,000 worth of eth for a limited 1-of-1 killer gf nft in january.

3: franklin sold the domain without canceling the pending offer, which caused the nft from 0n1 force to plummet to $460 worth of eth. unknown attackers exploited and triggered the contract for micah johnson’s akutars project, permanently locking the funds inside of it. ftx’s collapse and criminal charges for founder sam bankman-fried caused the assets to remain stuck on the marketplace, and the pixelmon nfts were not well-received and now trade at a fraction of the original mint price. coinbase opted to “pause production” on the remaining chapters of the short film trilogy. the nft purchased by pranksy is now worth only $215 worth of eth on opensea. emily “pplpleasr” yang stated there is a lot of money for web3 video content, but not a lot of great stuff just yet. franklin tweeted, “moral of the story: check pending offers in all of your wallets before selling.”


By Evey Lovelace

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