In just 24 hours after launch, the Ledger Market sold 10,000 NFTS, featuring the first-ever secure clear signing mint.
Ever since NFTs became mainstream in 2021, new marketplaces started popping up. Currently, there are nearly 250 active NFT marketplaces. However, most platforms don’t have the same security features as Ledger.
The heightened security played a major part in the success of the launch. Users bought all 10,000 Genesis Ledger NFTs in less than 24 hours since the marketplace opened. The NFT collectibles were sold for roughly 0.3 ETH – a little over $484 at the time of the sale – per piece.
What Exactly is the Ledger Market?
Before we go into details about the sale, let’s first look at the Ledger Market.
The marketplace is a multi-chain NFT distribution platform. The owners describe the Ledger as “the world’s first-ever secure mint platform for curated NFT drops.”
In other words, the ledger was created as a safe space for NFT trading. The owners wanted to create a virtual marketplace just as safe as a physical store.
Here’s how the security features work. The programmers only programmed a single access point to keep the Ledger marketplace safe. To enter the Market, users must go through Ledger Live, a secured virtual ecosystem.
The Ledger allows users to mint their digital assets and create NFTs through clear-signing, providing greater transparency. Clear signing achieves this by allowing users to see all transaction details when signing. The system protects users from common scams like phishing.
But Why Did Ledger NFTs Sell Out so Fast?
What’s the reason for the Ledger NFT sell-out?
Some believe that the answer lies in the low price of NFTs. The entire 10,000-piece NFT collection cost roughly 3,000 ETH – less than $4.8 million.
Compared to other recently launched collections, the price is more than reasonable. And seeing how the price of certain NFT collections went up, there’s a good possibility that the owners can make a healthy profit down the line.
But that’s not the only reason, of course. Each purchaser of a Genesis Ledger NFT is eligible to redeem a rare Ledger Black-on-Black Nano X.
The Nano X is a limited edition hardware wallet that allows you to store digital access such as crypto coins and NFTs securely. You need to connect your smartphone to the wallet via Bluetooth, and your digital assets can be accessed in seconds.
In addition, the Genesis Ledger holders will also be given access to future drops. Since Ledger Market announced a slew of high-profile collaborations – like the Nike RTFKT project – Genesis holders can rest assured that their investment will pay off.
Everything we talked about here is just the beginning for the Ledger Market. Their partner list will expand, more NFT collections will be minted, and the marketplace will continue to grow.
Ledger Market was created to be inclusive and accessible to all creators, organizations, and crypto enthusiasts. The success of the Genesis NFT sale is a strong indication that they are on the right track.