NFTglee, which recently launched an auction platform for minting NFTs on Bitcoin, has launched a series of trading algorithms packaged in a ‘built on Bitcoin‘ NFT. This NFT release is one of a kind that has gathered a lot of traction in the market.
The first release from NFTglee, Bitcoin Bob, was sold out in record time, and the response was something that the firm didn’t expect. The Bitcoin Bob trading algorithm NFT was released on Nov 11 via the NFTglee.com marketplace.
As per a press release, the NFT was scheduled for a small release, but the presale demand for the NFT skyrocketed. In a statement, the CEO of NFTglee, Tillman Holloway, said that the firm held “private conversations with customers” and that the demand was five times higher than expected.
NFTglee plans ahead
NFTglee has already planned ahead for future auctions. The CEO claims that investors are ready to pay higher amounts for the NFTs, and as a result, he is letting the “supply and demand dynamics play out within our community.”
The trading algorithm of Bitcoin Bob NFT will trade futures contracts on Chicago Mercantile Exchange (CME) and deposit the daily profits in the spot BTC wallet of the owner. Furthermore, the daily profits can be directly added to the owners’ cold storage.
“What we’ve seen is that two collections of consumers converged to buy our Bitcoin Bob NFT, which drove demand. NFT collectors and traders both understood the value here for separate reasons. Traders were blown away by the trading algorithms tech/parameters. NFT enthusiasts were drawn to the art, scarcity, and value associated with the algorithm.”said Holloway
The producer of the NFT release and the digital art behind it is digital artist Max Sheika who is responsible for the initial concept, renderings, and also, the final automation of the project.
NFTglee is getting ready for the upcoming NFT drop in the next two weeks, from which collectors can expect “exceptional value and a commitment to continue to showcase the utility inherent in non-fungible tokens,” said another press release.