The Collins Dictionary word of the year is NFT, an abbreviation for a “non-fungible token” that’s traded in the cryptocurrency blockchain. It beat out other timely phrases like “climate anxiety” and “hybrid working.”
An NFT is a certificate that represents ownership of a digital asset, such as a work of art or collectible. Virtually any digital file can be transformed into an NFT, from GIFs and video clips to digital artworks and memes — former Twitter CEO Jack Dorsey’s first tweet was sold as an NFT for $2.9 million, Reuters reported. Below are the Top 5 NFT projects.
10,000 unique collectible characters with proof of ownership stored on the Ethereum blockchain. The project that inspired the modern Crypto Art movement. Selected press and appearances include Mashable, CNBC, The Financial Times, Bloomberg, MarketWatch, The Paris Review, Salon, The Outline, Breaker Mag, Christie’s of London, Art|Basel, The PBS News Hour, The New York Times in 2018, and again in 2021. The Cryptopunks is one of the earliest examples of a “Non-Fungible Token” on Ethereum, and were inspiration for the ERC-721 standard that powers most digital art and collectibles.
Official website: https://www.larvalabs.com/cryptopunks
Opensea: https://opensea.io/collection/cryptopunks
Twitter: https://twitter.com/larvalabs
BAYC is a collection of 10,000 Bored Ape NFTs—unique digital collectibles living on the Ethereum blockchain. Your Bored Ape doubles as your Yacht Club membership card and grants access to members-only benefits, the first of which is access to THE BATHROOM, a collaborative graffiti board. Future areas and perks can be unlocked by the community through roadmap activation.
Official website: https://boredapeyachtclub.com/#/
Opensea: https://opensea.io/collection/boredapeyachtclub
Twitter: https://twitter.com/BoredApeYC
In a magical world where apes ruled the metaverse, a magical thousand-year-old tree sprouted cute baby apes. A flock of storks was the loyal companions of the thousand-year-old tree. One sunny day, a total of 9999 baby apes were born. Storks followed their inner call and delivered all the baby apes. The families were so grateful and elated that they wanted even more baby apes. All were delivered and all lived a joyous life with their parents.
As the parents were busy navigating the metaverse and the kid apes grew up, they left their kid apes with Victorior, the friendliest teacher in the whole metaverse. Victorior was beloved by the kid apes since he is a talented art teacher who spreads his love through art.
Official website: https://www.apekidsclub.io/
Opensea: https://opensea.io/collection/akc
Twitter: https://twitter.com/apekidsclub
Founded in 2011, The Sandbox is a blockchain-based virtual world where players can create NFTs, display their NFTs on their land, explore different lands with their avatar as well as interact with other players and brands.
Alongside the rise of blockchain gaming and NFTs, The Sandbox has experienced rapid growth this year and currently has over 500,000 users. It has 166,464 pieces of land and 12,000 unique virtual landowners, with high-profile owners including cryptocurrency exchange Binance, Hong Kong newspaper South China Morning Post, and the Winklevoss twins.
The Sandbox has also partnered with over 165 brands, including Snoop Dogg, The Walking Dead, The Smurfs, Care Bears and Atari, to create voxelized versions of their worlds and characters in The Sandbox. The platform has generated US$144 million in lifetime gross merchandise value (GMV), according to a media release.
Prices of metaverse tokens such as Decentraland’s MANA and The Sandbox’s SAND surged following Facebook’s Meta rebranding. SAND surged to an all-time high of US$3.33 today and was trading at US$2.73 as of publishing time, up over 7,500% since the start of 2021, according to CoinGecko data.
The Sandbox, a platform built on the Ethereum blockchain that allows users to interact in a virtual world using non-fungible tokens (NFTs), today announced that it had completed a US$93 million Series B investment round led by SoftBank Vision Fund 2 — the fund’s first investment in crypto assets.
Official website: https://www.sandbox.game/en/
Opensea: https://opensea.io/collection/sandbox
Twitter: https://twitter.com/thesandboxgame
Formed by three friends at the beginning of the COVID era in Jan 2020, RTFKT was born on the metaverse, and this has defined its feel to this day.
RTFKT is a very eclectic, creator-led organization. RTFKT uses the latest in-game engines, NFT, blockchain authentication, and augmented reality, combined with manufacturing expertise to create one-of-a-kind sneakers and digital artifacts.
RTFKT is known to be creating viral sneaker designs, memes, and collectible exclusives. RTFKT has maintained a reputation of being more than a little ahead of the cutting edge of technology, a rep that has many mystified, as they would appear to lack the resources and manpower to rival giants in terms of research and development in the birth of digital fashion.
Official website: https://rtfkt.com/
Opensea: https://opensea.io/collection/clonex-rtfkt-tm
Twitter: https://twitter.com/rtfktstudios
Wizards & Dragons is a strategy game in which players use NFTs to acquire the game’s currency. Players can mint or buy either Wizard or Dragon NFTs, each of which follows their own set of rules in the quest to attain Gold Pieces (GP), the in-game currency.
Thousands of Wizards and Dragons compete in a tower in the metaverse. Tempting treasures of GP await, with deadly high stakes. All the metadata and images are generated and stored 100% on-chain. No IPFS. No API. Just the Ethereum blockchain.
Official website: https://wnd.game/
Opensea: https://opensea.io/collection/wizards-dragons-game-v2
Twitter: https://twitter.com/wndgame
Whether or not NFTs are here to stay, they are surely having a moment and many people are trying to make real money off of a digital asset. It’s a new frontier, and big risks could truly pay off — if done right. Whether you are thinking about being an early investor in NFTs or are wondering whether to dip your toe in, make sure to keep an eye out on this new technology — it will surely be interesting to watch how it grows and how companies will use it to their advantage. Staying up to date on the latest will allow both buyers and sellers to better understand the technology, how it works, and how creators can use it to make NFTs sustainable and stable well into the future.
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.
VinceH
Coincu Ventures
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