Recent years the public has been engrossed with the likes of Bitcoin and other alternate coins increasing in value, the mega giants like Adidas for instance has been making millions in NFT. Adidas alongside with their partners such as Bored Ape Yatch Club, Punks Comics, GMoney created NFTs to be sold online. Besides, Adidas has also recently launched tokens (Adidas Original tokens) which comes together with free physical Adidas hoodie or tracksuit worn by the famous Bored Ape. The physical Adidas apparels will be available only on 2022, the buyers can put an expensive pre-order for the clothes. 20,000 of the NFTs in early access are offered to people that has owned who own special Adidas Originals tokens, GMoney tokens, Bored Ape Yacht Club NFTs, Mutant Ape Yacht Club NFTs, and Pixel Vault NFTs.
The above mentioned tokens are already hard to get and limited to certain amount of people, Adidas made the NFTs even more premium offered to these selected amount of people. Hence, the NFTs will be ultra-scarce and will increase in value due to the demand created.
The sales of these NFTs and tokens has enabled NFTs to make $22 million derived from the sale of 30,000 NFTs at 0.2ETH each (0.2 ETH is equivalent to about $765, price varies over time).
Recent months, there was some issues which has occurred while trying to mint the Adidas Mutant Ape Yatch Club NFT. However, the issue has been mitigated when Adidas agreed to reimburse whoever that has lost gas fee (fees required to mint NFT).
Following the success of Adidas from NFT, Developer GSC Games World announced an NFT for their game Stalker 2 however they have removed it due to some disputes from the gamers. Google’s search on NFT spiked to record levels from the current craze and curiosity of the mass public. Even Collins dictionary has declared the abbreviation as it’s word of the year in 2021. As of recent days, the NFT market has reached all time high at $17 billion according to Cointelegraph Research. The NFT marketplace OpenSea which has processed most of the transactions has a trading volume that recently surpassed $10billion.
NFT’s potential reaches far beyond art to include music, sports, collectibles and video games, as the utility encompasses ownership as well as exclusive access to unique functions and features. NFT hits are namely the famous CryptoPunks, Beeple’s collage, NBA Top Shot, Bored Ape Yatch Club etc, and it doesn’t stop there as more NFT has been created and traded to serve the growing communities.
Larva Labs – creator of Crypto Punks
In June 2021 an alien punk (a crypto punk collection) sold at Sotheby’s for $11.75 million. In August the same year, Visa acquired $150,000 CryptoPunk for its corporate collection. Hollywood agency UTA secured a deal to use CryptoPunks in mainstream media. CryptoPunks has seen the highest trading volume on OpenSea with 756,984 Ether (ETH) ($3.03 billion). As this NFT continues to increase in value and with the historical relevance, Crypto Punk is the top NFT Collection.
Yuga Labs – Creator of Bored Ape Yatch Club
Bored Ape Yatch Club (BAYC) is the second higest historical trading volume, with 266,843 ETH ($1.07 billion). In September 2021, Sotheby’s sold a collection of 107 BAYC NFTs made up of 101 Bored Apes and six Mutant Apes for a total $24.4 million which was mainly contributed by the celebrities buyers like Jimmy Fallon, Post Malone who was featured with BAYC. The exposure has spiked up to more than 900% uptick in sale volume of the NFTs. It has by far recorded as the 2nd highest off-chain NFT art sale at an auction house to date after collaboration with Rolling Stone and Adidas. Experts says that it has the potential to surpass CryptoPunks from the potential future of BAYC.
Axie is a game where creatures are used to duel each other and complete daily quests. The NFTs in it are bred (minted), bought and sold and are valued by their rarity and gameplay advantages. In November, a land plot within the monster-battle NFT game sold for a lucrative 550 ETH ($2.3 million). Axie Infinity co-founder Jeff Zirlin informed that they are in the battle of the future of the internet with giants such as Facebook and Apple.
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