by After destroying a Lamborghini worth about $265K to create an NFT series, Tom (known by his creative name, Shl0ms has revealed that he would build his 999 NFT collection based on the detonated Lamborghini before this month-end. Shl0ms became hugely popular when he destroyed his $265K worth of Lamborghini and announced via Twitter that he would create 999 NFTs out of the incident.
The Misconception About Owning A Lambo And The Ideal Lifestyle
While there were rumors that he destroyed his Lamborghini as a form of protest, Shl0ms clarified that he took such action as criticism of the extreme greed and get-rich-quick mentality that pervades the crypto world.
Shl0ms heavily criticized the get-rich-quick mentality surrounding the crypto world, saying, “while this technology holds huge promises with several opportunities to change our world positively, it is unfortunate that many prefer to misuse this promising technology. It is quite shameful.” He further said he chose a Lamborghini because it represents most people’s ideal lifestyle. “They want to rip many people off their hard-earned cash to own a Lambo,” Shl0ms added.
The Plan To Create The NFT Series
Shl0ms revealed that he started considering blowing up his Lambo following an announcement by Audi ag (makers of Lambo) when they tweeted that they “would physically fractionalize” a Lambo to express their disapproval of the digital asset industry. A tweet that the carmaker giants have now deleted.
Shl0ms said he later polled Audi’s Twitter followers to know whether they’d prefer a “methodical disassembly” or “chaotic destruction.” The poll results showed that many of them liked the latter option. Shl0ms executed his plans in collaboration with 100 volunteers, an anonymous investor, and a licensed explosive engineer.
The video of the charred pieces from the explosion was shot in 4K Definition by some of his volunteers earlier in the month. Schl0ms will allow interested NFT fans access to the video footage of the explosion on the launch date. He further disclosed that the volunteers and the unnamed investor would receive 111 of the created NFTs, while the remaining will be listed on the NFT marketplace for sale.
Despite the reactions that trail his actions, Shl0ms revealed that he would use the proceeds from these NFT sales to establish an ethically-driven DAO, which will significantly differ from the financially-driven ones currently in existence.
NFT Sales Plummet Amidst A General Crypto Market Decline
The latest data from NFTPriceFloor indicates that the floor prices of top NFT projects like the BAYC have plummeted. The NFT market has been on a gradual decline since the middle of this month, and it does appear that the trend won’t reverse anytime soon.
Apart from BAYC with a 1.69% decline in its floor price within the last 24 hours, the floor prices of the NFT series from Crypto Punk and Clone also dipped by 1.37% and 4.82%, respectively, within the same period. Furthermore, a recent dune analytics data revealed that there had been a significant drop in trading volumes of NFTs across various marketplaces since the beginning of this month. Coincidentally, this decline occurred at about the same time as the bitcoin correction late last month.
