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NFTs have become a tulip bulb level mania.

NFTs have become a tulip bulb level mania.

NFT or non-fungible tokens are becoming very popular among the digerati recently, having artwork, music, tweets, and other content selling for millions of dollars in most cases. But all the Ellen DeGeneres fans are not irrationally exuberant about this hype. Her first NFT token sale got a net total of $30,955. Using NFTs, people can buy or sell digital assets that are certified through blockchain-based technology.

DeGeneres’ first NFTs sale

DeGeneres’s first NFT sale took place on Monday. All the finance are going to the World Central Kitchen, a food relief organization founded by Chef Jose Andres. The show began promoting this stunt online last Friday.

However, DeGeneres announced the NFT sale on Monday at “The Ellen Show” with a monologue about NFT sold as the premium auction lot. She tweeted the information about the auction held on NFT on the site Bilski. She shared the news with all her 79 million Twitter followers.

DeGeneres monologue sold at $14,555

The NFT of Degenere’s monologue got sold for $14,555. Thattalfamily, who is also self-described as the Tallest family on Tik Tok, made this purchase to boost followers. Now they have become the proud owners of the 4 minutes 24 seconds video clip with 4K clarity.

This Tall family also got a digital copy of “Woman With Stick Cat.” It is a selfie of DeGeneres holding the sketch she made. Moreover, it gently satirizes the whole NFT fad. Additionally, the physical copy of the pic signed by Ellen.

Woman with stick Cat

During the second auction, four limited edition copies of “Woman With Stick Cat” got sold for $2,500, where ten were available. The third sale was open to anyone, and 64 people paid a hundred dollars for a digital copy of the selfie during the 24 hour sale period. Finally, “Woman With Stick Cat” could not reach sky-high prices like many other NFTs.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.