Brazilian NFT startup sells out 3,000 tokens and earns BRL 2 million

Lumx Studios, a startup from Rio de Janeiro that develops experiences in the metaverse, earned more than R$ 2 million in less than two days. How? Entering the non-fungible tokens (NFTs) market with the 55Unity collection.

To date, it is the largest Brazilian collectibles project, with 3,000 tokens sold out in 48 hours. The customer buys an avatar that can be used as a profile picture on social networks and games. You can also use NFT as a “pass” for an online game from Lumx itself, making decisions in real time.

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This would be the Brazilian equivalent of Bored Ape, which is the best-known NFT art collection, with bored monkeys customized according to who bought each piece. Celebrities like Neymar, Justin Bieber and Madonna were some who acquired the items.

One of Lumx’s first customers is the brand Reserva, which will launch its first collection of NFTs. ReservaX will be a toy art version of the brand’s woodpecker named Pistol Bird. The other project is CryptoAngels, co-created with Marc Sparks and DOMA Collective, the artists with permanent exhibitions at the Museum of Modern Art in New York.

“This is still a market to be explored and with its own language. The chances of error are very high, so we are helping brands at this point”, said Lumx CEO Caio Barbosa.

Source: Exam

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About Raju Singh

Raju has an exquisite taste. For him, video games are more than entertainment and he likes to discuss forms and art.

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