US Stamps

Day of the Dead digital art sold out in less than a second

Nov 5, 2021, 10 AM
The United States Postal Service worked with nonfungible token (NFT) provider VeVe to create a “digital collectible stamp art” offering for the Day of the Dead forever stamps. These NFTs sold out in less than a second on Nov. 2.

Philatelic Foreword by Jay Bigalke

I will be up-front that I don’t fully understand the nonfungible token (NFT) concept, but it seems to be the latest craze. And the U.S. Postal Service jumped on the bandwagon Nov. 2 by offering its four Day of the Dead stamp designs as NFTs that it also called “digital collectible stamp art” via the VeVe platform.

“We are offering a new way to collect and a way to remain relevant and innovative with new audiences,” said Chris Karpenko, Postal Service executive director of brand marketing in a press release. “We’re excited to be able to make these designs available in an entirely new way with the licensed digital collectible drop with VeVe.”

But what was insane to me is that this USPS digital collectible stamp art sold out in less than a second.

Initially a single from the set of four went for about $6. And hours after the near-instant sellout, resellers were selling the NFTs anywhere from $200 to $2,000 depending on the rarity.

Usually the U.S. Postal Service has steered clear of offering rarities, but unfortunately these NFTs seem to fall into this camp, even if they aren’t physical items that are being purchased.

And I can imagine that those who collect NFTs probably weren’t thrilled about not being able to easily obtain these new offerings.

At least they can likely still go to their local post offices and purchase the real stamps for much less and actually have something to add to an album.

More information on the digital Day of the Dead items is available online.

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