Topps entered the sports card NFT world on Tuesday by selling more than 74,000 packs on the Wax platform in approximately 70 minutes.
The company planned to make packs of cards, which mimic its 2021 Series 1 set, available at 1 p.m. ET, but the amount of people trying to get in overtaxed the site. With a new launch time of 1:30pm, the log jam cleared and the 24,000 premium packs available for purchase at $100 apiece went first.
Things didn't go perfectly, with the biggest complaint being that deals that appeared to go through on a collector's credit card didn't result in packs winding up in that collector's wallet, a common refrain that is similar to many other highly coveted NFT launches like Top Shot and Zed Run.
By 3 p.m. ET, the price of a WAX token had risen more than seven percent on the day, while Mudrick Capital Acquisition Corp, which announced earlier this month that it was acquiring Topps in a deal that values the company at $1.3 Billion, was down more than eight percent.
About the Author
Darren is a Senior Executive Producer at The Action Network, covering all angles of the sports betting world. He spent two stints at ESPN, from 2000-06 and 2012-18, he regularly wrote for ESPN.com and contributed to ESPN shows, including SportsCenter and Outside The Lines. He also served as a business correspondent for ABC News, where he made appearances on the network’s flagship shows, including “Good Morning America,” “World News Tonight” and “Nightline.” While at CNBC from 2006-2012, Rovell anchored five primetime documentaries, including “Swoosh! Inside Nike,” which was nominated for an Emmy. Rovell also contributed to NBC News, where he earned an Emmy as a correspondent for the network’s Presidential Election coverage.
Follow Darren Rovell @darrenrovell on Twitter/X.
This site contains commercial content. We may be compensated for the links provided on this page. The content on this page is for informational purposes only. Action Network makes no representation or warranty as to the accuracy of the information given or the outcome of any game or event.
