How a Series of NFTs Saved a Couple from Financial Ruin

A couple that was on the verge of foreclosure and monetary collapse said that they made more than $100,000 in just a few hours selling non-fungible tokens (NFTs).

How a Couple Was Saved By Their NFTs

Thorne Melcher says she lost her job as a software engineer last February. From there, the bills just began piling up and she was having a lot of trouble finding a new job. Her girlfriend, Mandy Musselwhite, was able to sell some of her artwork and make a little money for the household, but it just wasn’t enough to make ends meet.

Both women live in a large household in Atlanta, Georgia. The home cost about $300,000, which ultimately required most of their savings. The couple purchased the homestead in the year 2019 and it also included a farmhouse, where they’ve raised several ducks, geese, and other animals.

Musselwhite, in an interview, explained:

I knew we had to think of something. We really didn’t want to lose this property. We love it here. The animals love it here.

As a means of protecting themselves and not foreclosing on their home, the pair created what’s known as Dastardly Ducks, a series of 10,000 NFTs that feature cartoon ducks. The tokens are generated by code and the ducks have more than 100 different traits. Initially, the NFTs were designed to help the couple keep their house and ensure a place to stay for their animals.

What resulted was a big side business that sold out in just a few hours. Overall, the pair made more than $120,000 selling their NFTs, which means they get to stay put. Melcher says:

We saved our farm by selling cartoon ducks. It was like a fever dream. They immediately started going so fast. I couldn’t sleep until they were all gone… Our lives changed overnight.

It is estimated that the pair owed more than $35,000 in mortgage back payments. To cover these costs, they had to quickly drop off a check with their lawyer last Tuesday. If they hadn’t done so, they would have been required to attend a court hearing just a few days later.

Turning the Financial Situation Around

Melcher says that their bank accounts had been seriously wiped out, and that the pair had less than one dollar to their name prior to the NFT sale. Musselwhite says that her personal account had been overdrawn by more than four dollars, and that her Cash App had just 89 cents in it.

This made things hard not just in paying their bills, but at times, the couple says they couldn’t afford food. They also had to pull a few strings to be able to afford the smart contract that permitted them to create Dastardly Ducks in the first place, as they couldn’t even do that.

The post How a Series of NFTs Saved a Couple from Financial Ruin appeared first on Live .