A couple from Atlanta, Georgia, has made almost $120,000 in less than six hours selling non-fungible tokens (NFTs) from cartoon ducks, paying off their debts. CNBC reports.
Thorne Melcher and Mandy Musselwhite own a house and a small farm outside of Atlanta, where they raise six ducks, two geese, and other animals. In February of last year, Melcher lost his job and the bills started piling up, including mortgage payments. Fearful of foreclosure, the couple created a collection of 10,000 NFTs, which was released on January 19, with each image selling for around $15, while a 12-pack cost roughly $120.
The Ducks' non-fungible tokens, generated by code with unique combinations of more than 100 different features, sold out in less than six hours, raising just under $120,000. "We saved our farm by selling cartoon ducks. It was like a fever dream," Melcher said. Although the couple was not well known in the NFT world, a small group of supporters helped them generate interest in their project.
"Our lives changed overnight"
The couple owed about $35,500 in back mortgage payments and were scheduled to appear in court on January 21. However, the day before, they managed to deliver a check for $40,000 to his lawyer to settle that debt.
"Our lives changed overnight," says Melcher. Before the sale of their NFTs, they had some bank accounts, but their balance was negative or there was less than 1 dollar. Furthermore, they did not have the resources to pay the fee to implement their digital files on the Ethereum blockchain, so a friend offered to cover that payment.
His 'Dastardly Ducks' project materialized in less than two weeks. Melcher, a software engineer, was able to quickly learn a programming language that runs on the blockchain, while Musselwhite, a graphic artist, handled the cartoon design.
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