Posted 1/22/2024, 10:05:28 PM
Dwight Howard's Ballers NFT Launch Fails to Score, Selling Only 15% Despite Celebrity Status and Incentives
- NBA star Dwight Howard launched an NFT collection called "Ballers" that massively underperformed, with only 15% of the 3,000 NFTs selling
- The NFT art and value was criticized, prompting Howard to redo the art and add incentives like sending holders AVAX cryptocurrency
- Howard slashed the collection's supply from 3,000 to 1,500 NFTs trying to salvage it, but the floor price still dropped below mint price
- Ava Labs, the company behind the NFTs' Avalanche blockchain, distanced themselves from the project as it floundered
- The failed NFT launch shows the changed landscape where celebrity collections no longer automatically succeed like in the 2021 NFT boom