While Elijah Wood only recently made the headlines of crypto news with his DeadFellaz purchases, it turns out the actor has a passion for play-to-earn as well. On November 20th, he purchased two Wolf Game NFTs, effectively becoming one of the game’s early adopters.
Sheep 503 and Sheep 1793 cost the actor 0.375 ETH each or about $3300 altogether. Thanks to his quick thinking purchasing the Sheep NFTs, Wood was also entitled to two land deed NFTs. However, he did not stop there and decided to ape further into the game by spending an additional 30.000 WOOL tokens, or about $2800 on farmers. This brings his total investment to just over $6000.
This is a sweet deal, as the floor price for a sheep NFT is 1.9 ETH only a week later. Not to mention that on November 27th, the average price for a Wolf Game NFT on secondary markets reached 6.6 ETH.
Additionally, the actor must be enjoying a nice passive income from the play-to-earn element of the game. Each of his sheep NFTs grants Wood 10.000 WOOL tokens daily. However, to keep the sheep safe from wolves, the actor has to pay a 20% tax on his earnings. This leaves him with a daily reward of 8000 WOOL per sheep NFT. Assuming he has staked both of his sheep NFTs from the time he purchased them, he now stands to have made upwards of 112.000 WOOL in rewards. At the time of writing, the dollar value of these rewards is upwards of $10.739.
Judging by these simple calculations, Elijah Wood has made a very good investment decision by aping into Wolf Game. That’s a passive income of more than $10.000 a week, with an initial investment of a little more than half the reward. Sounds like good business.
Elijah Wood is not the only fan
Wolf Game has been the talk of the town for the past couple of weeks. The game is basking in the limelight with a promising roadmap for a full-fledged metaverse game at the beginning of 2022 and rewarding staking mechanics.
According to DappRadar data, Wolf Game NFTs (sheep and wolves) have generated upwards of $2.9 million in trading volume since launch. Additionally, land plot NFTs pushed even further with close to $6.7 million in trading volume.
If we look at Elijah Wood’s portfolio as an example, it’s no surprise that attention is peaking towards Wolf Game. By owning only two sheep NFTs, keep in mind we’re not even considering the benefits of land and farmers here, you can earn upwards of $10.000 weekly. What’s not to like?
While the game offers a serious passive income source, it’s not all roses for Wolf Game players. Unfortunately, hackers managed to find exploits in the Wolf Game smart contracts, which caused problems for the whole community.
In order to ensure the safety of sheep and wolves alike, The Shepherd, who created the game, has announced a migration event to new smart contracts. If you are a sheep or wolf owner, it is worth making the migration to protect your assets. You can do that on the official Wolf Game website.
Success comes with copycats
Wolf Game got many people talking in the blockchain community, and prices for NFTs quickly rose to thousands of dollars. Therefore it’s no surprise that others try to copy this success. A simple search for the WOOL token on the popular crypto token website Coingecko shows us three tokens.
The official WOOL is now $0.11, down 43% from its all-time high and up 12% in the past 24 hours. In addition, there’s another WOOL on BINANCE Smart Chain, down 63% in the past 24 hours and offered through a website that looks exactly like the official Wolf Game website. Thirdly there’s an AWOOL token for Sheep Game on Avalanche, which saw a 93% drop from its all-time high value. Furthermore, the website for this dapp is no longer online.
Wolf Game is potentially already a risky investment, but one that appeals to the crypto community. Similar to what we’ve seen happen to Loot earlier this year, a popular project can quickly spawn various copycats hoping to tap into the hype and score some quick cash. DappRadar advises readers to be careful and make informed and educated investment decisions.
DappRadar will continue watching over both Elijah Wood in his crypto journey, and Wolf Game as The Shepherd works on launching the official gameplay in 2022. To find out more about Wolf Game, check out this handy article explaining the ins and outs of the game. If you’re curious to explore other celebrity wallets, you can browse through the list of vetted DappRadar celebrity portfolios. Follow Dappradar on Twitter and Discord to find out more curious news from the crypto world.
