It took only 67 minutes before all Tiger King-inspired digital Garbage Pail Kids cards were sold out and Topps made more than 200 thousand dollars. The trading card company sold 20 thousand card packs with a total value of $204.800. This makes this sale of these digital cards one of the biggest NFT sales in history, considering the time in which it took place.
Over the past few months we’ve seen plenty of NFT sales gathering more money, but this often happened in more amount of time. For example, it took The Sandbox almost 24 hours to sell 12.384 pieces of land back on the last day of March. They acquired almost half a million dollars that day.
Topps only needed little more than an hour though. Nonetheless, the success of the collectible Garbage Pail Kids cards is remarkable. There were 7 thousand Mega Packs on sale for $19.99, and these sold out in only 25 minutes. These Mega Packs were good for $193.930 in revenue. The remaining $64.970 came from the 13 thousand standard Garbage Pail Kids packs that were sold for $4.99 each.
Complains and problems
Despite the financial success, the sale of GPK Goes Exotic didn’t go effortless. Originally they planned the sale for last week, but plans changed last minute plans. Today’s sale sure sold out fast, but some are complaining on Twitter about ‘whales buying large amounts of cards’ and that some of them paid money by credit card, but never received any cards.
“It’s a by-product of overwhelming demand. If you didn’t get your packs, your won’t be charged”, blockchain company Wax noted on their Twitter account. In response to questions from Play to Earn the company labelled the demand as ‘overwhelming’. They will take limitations on packs buying into consideration for future sales.
However, Wax doesn’t agree with the notion that whales bought big amounts of cards. According to data from the blockchain company, the sales came from 530 unique IP addresses. This suggests an average of 37 packs per buyer. “We find the ‘whale’ complaint to be unfounded at this time”, the company responded.
The second GPK sale
Garbage Pail Kids goes Exotic is the second series of digital collectibles published by Topps on the Wax blockchain. Topps sold the first series in May, based on the original first physical card series from the 80s. Back then they sold 110 thousand cards in packs of five. It took 28 hours to sell them all.
A complete set of Series 1 has 254 cards. Each set has 82 common cards, 82 uncommon ones, 82 sketch cards and 8 super rares. For your info, each image comes in two variations as well, each with a different name. The Exotic series is a bit smaller, with only 30 common cards, 30 uncommon cards, 30 tiger stripe cards, 30 tiger claw cards and 3 collector’s editions.
The run on these digital cards doesn’t come out of thin air. There’s a clear demand here, as shown by sales on open marketplaces like SimpleMarket. Collectors can now buy the cheapest cards for approximately 100 WAX, which equals approximately 4.80 dollars. Two months ago the lowest price was still 30 WAX. The most expensive cards cost tens of thousands of WAX.
Peer-to-peer trading is interesting for Topps, because for every trade they get an 8 percent fee. This is a revenue stream they’ve never ever had in their 80 years of existence.