The NFT craze isn’t going away anytime soon (at least not for CryptoPunks).
Sotheby’s Supports CryptoPunks
The piece was Punk 7523, one of the classic Larva Labs series’ nine Aliens. The eight-figure selling tag makes it the most valuable Punk, beating a previous record of $7.57 million set earlier this year by another Alien.
The NFT was part of Sotheby’s Natively Digital collection, which included pieces by cult crypto artists Pak, XCOPY, and FVCKRENDER, among others (the collection also featured an Autoglyph, another sought-after LarvaLabs creation). The item was purchased by Shalom Meckenzie, a stockholder at DraftKings. Sillytuna, an NFT fanatic, was the previous owner.
Non-fungible tokens are a sort of asset that enable artists to tokenize digital art, music, and any other sort of online commodity. They provide a mechanism to demonstrate asset ownership and scarcity, which is especially useful for digital artists who have historically struggled to market their work. The current NFT ecosystem is mostly built on Ethereum.
The collection dropped as a result of a market-wide downturn that also hit the NFT sector. Bitcoin and Ethereum are both down over 40% from their all-time highs, while NFT tokens like NFTX and B20 are in free fall. The same can be said for many NFT projects; weekly sales of some of Ethereum’s most popular NFT projects peaked at over $176 million in early May, before drastically declining for the remainder of the month. Sales are barely touching $10 million this week (note that this figure excludes the Sotheby’s collection).
CryptoPunks NFTs, such as the one sold at Sotheby’s, are still prized in Ethereum’s early history. Last month, Christie’s sold nine Punks. On the Larva Labs marketplace, the current floor price for a Punk is 14 ETH, or $34,868. Although this is a drop from the peak, it is still a significant increase over this time last year.
Sotheby’s said that five more CryptoPunks would be auctioned later this month following the sale. Each NFT will come with a certified print signed by co-creator John Watkinson, as part of a limited edition of just 24 Punks released in physical form.
A YouTuber has Exchanged his Tesla Roadster for an NFT
“Looking back in a year, two years, or three years, this could be a monumentally idiotic decision, but it could also be a fantastic decision,” Dan Markham said.
Dan Markham, the creator of the What’s Inside YouTube channel with seven million subscribers, has swapped his Tesla Roadster for a single nonfungible token.
Markham traded a blue Tesla Roadster — which he claimed may be worth “a quarter-million dollars pretty soon” — for a nonfungible token of a “positive porcupine” in a video posted to his What’s Inside Family channel on Sept. 15. The NFT was created as part of the VeeFriends project and is owned by Eli Burton, the creator of the graphic novel The Adventures of Starman.
“Looking back in a year, two years, three years, it may be a monumentally idiotic decision, but it could also be a fantastic decision. I feel these automobiles will hold their worth for a long time, and I am a firm believer in NFTs.”
“It’s a picture for a car — clearly he’s getting the better end of this deal.”
Before learning of Markham’s offer, Burton said he had planned to sell the digital painting for more than $100,000. But, according to the graphic novelist, trading the NFT for the car was “as simple as supply and demand,” as there were 10,000 tokens available at a starting price of $60,000 apiece. VeeFriends has a list of 40 porcupines that seem alike in a range of settings.
“Having it makes practically no difference in terms of money – whether it’s in a collector automobile or a collectible NFT — it’s still collectible,” Markham said.
Even though the two collectors exchanged NFTs on the blockchain, the transaction was primarily conducted in the real world, with Markham physically handing Burton the Tesla’s paper title and key. The porcupine is presently listed on OpenSea with a top bid of 16.339 Wrapped Ether (WETH) — around $56,445 at the time of publication — but Markham stated that he intends to keep the NFT in order to obtain access to a VeeFriends token holders-only conference.
NFTs have also been linked to physical collectibles by certain cryptocurrency users. For example, in July, an entrepreneur held simultaneous auctions for an Apple co-founder Steve Jobs job application and an NFT. The actual paper sold for $343,000, while the NFT received a final bid of 12 Ether (ETH), or $27,460 at the moment.
NFTs Inspired by Freddie Mercury is Being Released to Benefit an AIDS Charity
On the 75th anniversary of his birth, the renowned musician is honored with a special NFT collection.
Four digital collectible artworks inspired by the late Freddie Mercury will be auctioned soon. On what would have been the singer’s 75th birthday, the auction will take place.
Blake Kathryn, Chad Knight, Mat Maitland, and MBSJQ contributed artwork to the collectibles. SuperRare, a digital art marketplace, will host the timed auction. It will go live on September 20th and will last 75 hours, according to the organizers.
Furthermore, the auction earnings will benefit the Mercury Phoenix Trust, an AIDS charity. The nonprofit was formed in remembrance of the singer by Queen band members Brian May and Roger Taylor and band manager Jim Beach.
Three of the NFTs in the collection feature images of the performer himself. The fourth image depicts a white grand piano with a crown on the seat and a goldfish pond in the background.
Both SupreRare and the charity linked the effort to Mercury’s inventiveness in a joint statement. “When Freddie Mercury died, he left the world an obvious artistic brief. ‘You can do whatever you want with my work as long as you don’t bore me.’“
The popularity and activity of the NFT market has exploded in the recent year. These digital collectibles took over key mainstream industries, resulting in the emergence of a digital metaverse. Some, such as Tether’s co-founder, predict that in the future, “every consumer product will have an NFT.”
Like the Freddie Mercury NFT, various examples of this technology have been deployed in space for commemorative and charitable objectives.
Beeple, a well-known digital artist, sold an NFT for $6 million and donated the earnings to the OpenEarth Foundation. Pele, a Brazilian footballer, also sold NFTs as digital trading cards and donated the proceeds to his charity.
NFTs also allow for the creation of a digital capsule or a remembrance of something or someone. For example, Russel Simmons and Snoop Dogg just released an NFT anthology honoring hip-hop music pioneers. Never-before-seen artwork and music from industry giants were featured in The Masterminds of Hip Hop.
Commemorative NFTs are popular outside of the music industry as well. Unreleased images of Kobe Bryant were put up for auction as NFTs in August. Bryant was photographed while he was an 18-year-old basketball player.
Do you Aspire to be President? You Can Now Purchase the White House as a Virtual Property NFT
For decades, the White House has served as a symbol of the American people and democratic values. Until today, the public could only fantasize about possessing an actual model of the White House for their house. However, you may now own a piece of history—as well as home decor—by purchasing an NFT powered by Next Earth.
Who is the owner of a piece of history?
Many well-known landmarks have historical significance for the cities in which they are located. Maybe one day, you’ll be able to “purchase” a section of the Great Wall of China or a space on Mount Rushmore. The public, however, now has that ability with the purchase of an NFT on Next Earth. Likewise, on the Ethereum blockchain, you can own land tiles of the White House by simply picking them from a map of the world.
What is the value of it? No one knows how the digital real estate replica phenomena will develop because the notion is still in its early stages. Virtual properties, on the other hand, have been sold for large sums in past virtual worlds. As a result, it’s possible that an NFT version of the White House could one day be sold for a considerable sum—much like a house—in the future.
Putting Together a Virtual Real Estate Portfolio
Although the White House serves as the residence of the President of the United States, it is also a significant piece of real estate. The same may be said of numerous famous properties worldwide, whether or not they are political milestones.
Take a glance at any large city on the earth, and you’ll see that it has its own set of valuable assets, whether virtual or tangible. Furthermore, because you can develop nearly anything on land, it is the place to be.
So, what if you could purchase a plot of land in a major city? In a world where everything is now a piece of digital real estate, a plot of land that would be yours to develop – yours to do with as you please? That is precisely what Next Earth is constructing.
The Metaverse’s Implications
The White House NFT is just one of several high-profile real estate properties available for purchase in the metaverse. The metaverse represents the ability to own digital real estate in virtual environments. Virtual real estate can be owned, developed, and monetized in the metaverse.
We’ve already seen many significant business leaders tweet about buying NFTs and other virtual real estate assets in the metaverse, such as sports memorabilia. As more organizations and individuals get on board with investing in digital real estate, this trend will only continue to increase.
The Metaverse in the Future
These days, the metaverse craze is all the rage, and virtual real estate is no exception. One of the metaverse’s possible futures is similar to Ready Player One but without the dismal components. Virtual real estate based on NFT is already a reality, and Next Earth is leading the way.
Second Life and The Sims were among the first to provide Metaverse 1.0, which is a centralized virtual world that you can explore, construct, and play with. But, of course, at the end of the day, the centralized firm in the middle would be in charge of your assets.
For the first time, Metaverse 2.0 integrates blockchain technology with a digital duplicate of Earth, allowing users to hold rare digital assets that can be brought to life. Within the metaverse, users form communities that provide chances for interaction with other users and the construction of virtual structures.
Metaverse 3.0 is the way things will be in the future: It’s a hybrid of virtual reality, metaverse 2.0, and blockchain technology. This is a digital rendering of what our home planet would look like if we turned it into a virtual reality experience. People will interact with the real world via digital avatars, communicate as if they were in person, and construct virtual reality-only objects. The infrastructure required for this new version of the metaverse to operate safely, securely, and transparently is provided by the blockchain, the technology that allows bitcoin to act as money rather than merely a digital currency.
In their metaverse, Next Earth is now selling virtual land tracts. The NFT-based metaverse is already an amazing development and yet another illustration of how blockchain and NFTs are transforming our lives, with more intriguing innovations in the pipeline, such as pixel-based land art.
The NFT Sale of the ‘Kia Sedona’ Goes Sour as the Contractor Allegedly Steals $3 Million
SLAM, a Basketball Brand, Joins the NFT Platform Autograph
Following Allegations of NFT Insider Trading, OpenSea’s Head of Product has Resigned
OpenSea Will Release an NFT Marketplace App
A YouTuber has Exchanged his Tesla Roadster for an NFT
Dapper Labs, an NFT Powerhouse, Signs a Deal with Google
StreetArt – Sidewalk to Cyberspace
Purpose-Driven NFTs: Purple Penguin x Project Ark release Pebble and Friends by Mercenary Art Studio
Justin Sun explains why he spent $500k on EtherRock NFT: It’s the same as Picasso in 1932
Mutant Ape NFT was Sold for 17 USDC Instead of 17 ETH, Resulting in a $54k Loss
Cryptocurrency for Real Estate: Door Coin
Has The NFT Bubble Already Burst?
GaryVee explains why NFTs are not a scam…
Fractional NFT Ownership With Wilder Worlds NFT Marketplace
Johnny Harris explains what NFTs are and how can they change the world.
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