Couple Dives Into NFTs, Raising $120k in 6 Hours to Save Home from Foreclosure

A couple based outside of Atlanta raised $120,000 from NFTs in under six hours to help save their home after falling behind in mortgage payments.
Image source: OpenSea

Quick take:

  • A US couple raised $120,000 in under six hours from NFTs.
  • The couple revealed to CNBC’s Make It, they had less than $1 remaining in their account.
  • They had fallen behind in mortgage payments and were close to losing their home.

A couple based outside of Atlanta told CNBC’s Make It they raised $120,000 from NFTs. The couple had fallen behind on their mortgage payments and were facing foreclosure. 

Thorne Melcher was a software engineer before losing her job last February, her girlfriend Mandy Musselwhite sold artwork to cover regular expenses before she was overwhelmed by the piling bills.

Soon after, the couple found themselves unable to regularly pay for their mortgage, falling in danger of foreclosure. The couple had spent most of their savings to buy the $300,000 home located just outside of Atalanta in 2019.

After getting attached to the home, which also has a farmhouse and various animals, Melcher and Musselwhite said they couldn’t bear the thought of losing their home, with the 25-year old Musselwhite telling CNBC that she knew they had to do something.

“We really didn’t want to lose this property. We love it here. The animals love it here,” she said.

The couple co-created Dastardly Ducks, a non-fungible token (NFT) collection of 10,000 duck cartoons. Melcher and Musselwhite said they used software to auto-generate unique images based on 100 different traits. 

The auction launched last Wednesday, generating just under $120,000 after selling it in under six hours. 

Melcher, 33 said it was like a dream, selling cartoon ducks to save their home, which has six real ducks, 2 geese and other animals. “They immediately started going so fast. I couldn’t sleep until they were all gone,” she said.

The couple owed $35,000 in back-payments and needed to drop a check to their lawyer last Thursday, or appear in court Friday. Instead, they made a payment of $40,000, saving their home.

The couple said a friend agreed to cover the gas fees used to mint the NFTs on the Ethereum blockchain. The Dastardly Ducks NFT collection kicked off at the start of January, with the whole process of creation, listing, minting and sale taking roughly two weeks.

“It felt like we started a start-up and launched our first product, from conception to release, in under two weeks,” Melcher said.

The project leveraged another NFT project launched last week, Azuki, which helped to iterate their white paper, creating a code for Dastardly Ducks.

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