The founders of a mob attraction in Las Vegas are launching non-fungible mob-themed tokens that include digitized versions of memorabilia from real organized crime.
The collection, titled “The Mob Experience,” contains NFT versions of artifacts belonging to some of America’s most notorious gangsters. The artifacts include a handwritten note from Al Capone to his son, written by Alcatraz; Meyer Lansky’s handwritten diaries; Bugsy Seigel’s pistol and Mickey Cohen’s brass knuckles among other historical pieces.
According to a current press release, the collection will be auctioned over a period of two weeks from April 22nd. But is the mob’s arrival on the token scene a bit late, given the dramatic turn the NFT market took last month?
Data from Nonfungible.com shows that almost every measurable metric related to sales of NFTs has been declining recently. The frequency of NFT sales decreased 30% from 179,656 to 124,371 last month.
The total value of NFT sales measured in US dollars fell 15% from last month’s moving average of $ 229,945,000 to the last measured data point of $ 193,261,000.
The number of active NFT wallets decreased by 24% over the same period, while the number of single NFT buyers decreased by the same percentage.
A recent Bloomberg report suggested that the average value of each NFT purchased was down 70% by April. From a February high of $ 4,300, the average price for an NFT fell to $ 1,400 just a few months later.
Mob Experience’s decision to enter the NFT market was triggered by cryptocurrency investor Michael Evers. Evers spoke of the rarity of having a museum-quality collection converted into NFTs.
“Never before has a museum-quality collection been tied to the NFT market. The opportunity for mob fans and collectors as well as NFT owners to be the only ones in the world to own an extraordinary and unique piece of history is an exciting new first for the NFT market, ”said Evers.