Jay Chou recently debuted “Phanta Bears”, his own NFT project under his fashion brand PHANTACi. The Taiwanese super icon collaborates with brand new NFT platform Ezek for the project. 

The 10,000 NFT pieces sold out in less than 40 minutes and fetched $10 million. Each Phanta Bear sold for 0.26 ETH, equivalent to nearly $1,000. The total turnover is $10 million. 

People who purchased the Phanta Bear NFT resold the avatars at high prices on the NFT trading platform OpenSea. Since then, the value of each NFT has more than tripled with the total value of the NFTs reaching $53 million as of 11 January. 

The most expensive Phanta Bear NFT was sold for 20 ETH (approximately US$77,000). Its floor price sits at 5.88 ETH ($18,344), and has become the number one in OpenSea Top NFTs rank. According to Forkast, its floor price currently sits at 5.88 ETH ($18,344). 

“When I said I am all about being no. 1, I wasn’t kidding!” Jay Chou wrote on an Instagram post along with a screenshot of Phanta Bear’s OpenSea ranking.

Just like any other NFTs, each Phanta Bear NFT has its own unique features. Some wear different designs of PHANTACi clothes, along with different colour combinations, backgrounds, fashion accessories and handheld objects.

According to Global Newswire, Ezek also offers unique smart contract technology in these NFTs. The PhantaBear NFTs, for example, promise a package deal in which the buyer not only receives the art, but also ticket access to virtual concerts and other special access to premium venues. 

Ezek's mission is to create one-of-a-kind NFTs that are both highly valuable avant-garde art and special smart contracts that ensure premium perks.

With these avatars, PHANTACi aims to create a new type of NFT by transforming real fashion wear into virtual clothing featured on the bears. Chou also seeks to sell virtual NFT clothing in the future that is both accessible in the gaming metaverse and wearable in reality.