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Habbo NFTs Generated $14 Million in 24 Hours, Completely Sold Out

(This article was originally published on Udonis’ blog)

Habbo NFTs generated $14 million in just 24 hours, according to Sulake. The NFTs, or in this case, the Habbo avatars, have been completely sold out. Sulake held the auction in a week from September 27th to October 4th, 2021, but they hadn’t wanted to disclose the exact day right away.

The reason behind this secrecy about the date was that Sulake wanted to make the auction fair and prevent blockchain battles from happening.

Moreover, the developer had wanted to give everyone an equal chance of acquiring an NFT, so they released the avatars in a Dutch auction. Finally, Sulake revealed all avatars on October 5th, so the customers hadn’t known what kind of avatar they would get during the auction.

All avatars were unique and randomly generated. However, some of the avatars were rarer than others, so some buyers were luckier than others as well.

As Sulake had announced, they put the remaining NFTs to the side for future giveaways, staff, and competitions. Furthermore, Sulake mentioned that those remaining avatars were a token of gratitude for their loyal fanbase. Also, Sulake has amassed a sizable following since Habbo Hotel became a popular online game in the early 2000s.

Most Habbo Hotel fans were teenagers when the game was at its peak, and now they are nostalgic adults. The nostalgia factor was the auction’s main selling point. Not only did fans recognize their favorite game from their teen days, but a big appeal was also the pixel art, which is no longer that common in games.

Along with these nostalgia elements, Sulake used this opportunity to bring more players to their games. Namely, according to Sulake’s website, the NFT avatars will eventually be available in the game.

Source: OpenSea

Auction Results

During those 24 hours, Sulake revealed that they sold out all 11,600 avatars for Ethereum cryptocurrency. More than 3,300 NFT collectors bought the Habbo avatars. An interesting fact here is that 90% of the NFTs sold out during the final 30 minutes of the auction.

Since the avatars got revealed, the Habbo NFT project has generated more than $14 million in overall trading activity on the OpenSea marketplace.

Sulake CEO, Valtteri Karu, said that the company had been extremely satisfied with the success of the Habbo Avatars NFT project. Additionally, he stated that the community had supported Sulake massively, which they were very grateful for.

Moreover, Sulake, along with its parent company Azerion, decided to become a part of the carbon reduction program. In this case, Sulake partnered with Offsetra, a company that helps other companies reduce their carbon footprint.

When it comes to trading cryptocurrencies, a lot of mining But, mining requires a lot of electrical energy, which requires more energy production and, therefore, significantly increases the carbon emission levels.

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