The ‘For the Culture’ NFT collection by PVLACE and Gunboi Sold Out in Two Hours!
Recently PVLACE and Gunboi launched a ‘For the Culture’ NFT collection on FOMO Lab, which represented the origin of hip-hop from the people.
The collection was launched on The Avenue, the NFT platform by FOMO Lab, on 1st June at 9:00 PM UTC and it was immediately sold out in just under two hours.
What does this mean for Fomo Lab?
The team at FOMO Lab was thrilled about the sale as it displayed their capabilities to manage and launch such an exciting event. Pixasso, founder and CEO of FOMO Lab, told,
“We were all so excited that it sold out so quickly, this drop is one we were all looking forward to and to sell out our first drop on The Avenue within 2 hours, raising over $487,000 is amazing. The successful drop solidifies the platform to deliver major collaborations and partnerships. We were extremely impressed with it, and we are excited for our next NFT collections coming to The Avenue very soon.”
This collection was the first to be sold on The Avenue. It will act as a new milestone for the platform with which all future projects will be compared. FOMO Lab is ready with its next project, expected to launch later this month. Apart from this, FOMO Lab also has several exciting partnerships and collaborations in the pipeline including partnerships in the DeFi space and celebrity partnerships including a special NFT Podcast for Brendan Schaub.
‘For The Culture’ NFT Collectibles
This collection contained around 387 unique 3D models paired to 1 of 1 production by PVLACE and Gunboi. The fact that PVLACE and Gunboi, two multi-platinum and chart-topping music producers, added unique music compositions in the NFT collectible along with other goodies can amount to the early sell-out of the collection.
Every NFT included a Playstation 1 graphic avatar of hip and hop and RnB celebrities and artists, along with a music piece that ranged anywhere from 2 minutes to 5 minutes. Every NFT was priced at 2.99 BNB, which amounts to around $1,000 each. Considering the price, it was a great deal as original music composition alone costs about $15,000 in the traditional market. The total sale was 1157 BNB or just over $487,000.
PVLACE and Gunboi
PVLACE and Gunboi are renowned music producers in the industry, who have worked with several big names such as Young Thug, Wiz Khalifa, Migos, Future, etc. This collaboration with FOMO Lab was a major step from the duo into the NFT industry which became instant success as evident from the sale results.
The music producers PVLACE (Denis Berger) and Gunboi were excited at this opportunity to distribute their music using a different platform. PVLACE told,
“Gunboi and I are consistently writing music and there are so many pieces of music in which I spent hours working on the sound design or tweaking the composition in small ways that could make a big difference. It’s a huge honor to be able to create an art collection that allows all these works of music to be owned and shared by a new community of people who will value the art in a personal way,”
The release date had additional significance for Gunboi as it was his birthday,
“and this was truly the greatest gift. We are so ecstatic to see that the community loved the NFTs, their support just validated all of the hours we put into making the music compositions.”
Hopefully, the NFT space will see more from this duo in the future and from other musicians all around the world. NFTs have revolutionized the way distribution and ownership works and will bring more to the table in the future.
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