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Phil Hall
Phil Hall
Feb 24, 2021
News

Street Fighter NFTs Already Seen $1 Million in Trading

After selling $2 million in card packs Capcom and Wax are also seeing lots of trading happening with their Street Fighter collectible NFTs.
Street Fighter NFTs Already Seen $1 Million in Trading

After selling $2 million in card packs Capcom and Wax are now also seeing lots of trading happening with their Street Fighter collectible NFTs. The sale ended on Saturday, and since the launch collectors have been trading over $1 million on the secondary market.

In a tweet Wax noted that 65.410 packs have been sold during the 24 hour sale. These packs had a combined value of approximately 2 million dollars, and over 50 percent has been opened already. Those unopened will likely want to capitalize on the value of a 'mint package'.

As DappRadar notes, this overall means that collectors have been pumping 3 million dollars in digital collectibles based on a popular video game franchise. More than 30 thousand wallets now contain collectibles from the Street Fighter franchise.

It's the first product that Capcom brought to the blockchain, even though the company also has plans to do something with Monster Hunter. And Capcom isn't the only games industry giant tipping their toes in the NFT waters. Atari is heavily involved in virtual worlds, while Bandai Namco invested in Genies.

Gaming and blockchain

Digital collectibles are nothing new in the world of video games. Since the launch of the Xbox 360 and Playstation 3 fifteen years ago, gamers have been collecting digital trophy and achievement points. In addition games like Assassin’s Creed have perfected the concept of ‘collecting items’. At the same time there’s all kinds of collectible merchandise on the market aimed at gamers.

However, gaming on the blockchain is different. Digital items on the blockchain have a proven rarity, and that makes them valuable. Out of every demographic it’s most likely that gamers understand the value of a digital collectible, because they’ve been grinding for digital gold in virtual economies for years already.

NFTs - or non-fungible tokens - play a central role in all this. Every game item can be an NFT, which means that players can sell it. To learn more about NFTs, please read here.

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Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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