In short, NFTs represent-for some-a unique moment in history and culture. Apes and other collections (Pudgy Penguins, Weird Whales, Gutter Cat Gang) feel like membership clubs, and they’re driving the second wave of NFT buying.
#Space punks loot free
A lot of more than 100 Bored Ape NFTs are currently up for auction at Sotheby's, with an estimated haul of up to $18 million once it's all said and done.īored Ape #7090 was purchased for 600.0 ETHĪpe owners make their ape their Twitter profile, so it’s a status symbol, but they also get a bunch of perks with their ownership: access to a Discord chat for other owners (including the likes of NBA star Steph Curry) access to owner-only merchandise drops (like from hot streetwear brand The Hundreds) and free additional NFTs from BAYC, like Mutant Apes and Bored Ape Kennel Club. They're selling for serious cash too: a single Bored Ape NFT sold for $2.25 million worth of ETH this week, with the collection shifting more than $400 million of total volume to date, per CryptoSlam.
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The NFT world has gone gaga for Bored Ape Yacht Club, a series of NFTs depicting apes (bored ones) in various facial expressions. But fashion is nothing if not fickle, and earlier this month, a new contender to the NFT crown emerged. NFT enthusiasts might point to CryptoPunks as the marquee NFT brand. Here are the hottest trends in the NFT industry that are fueling discussion around crypto’s newest subculture-and shifting millions of dollars’ worth of capital. Recent NFT trends include generative artwork, fractionalizing valuable collectibles, and participation from big brands into established communities.Īfter generating over $2.5 billion in sales in the first half of 2021, sales volume for these blockchain-based digital deeds of ownership dropped off a cliff amid growing criticism of the environmental impact of Ethereum, the blockchain network where most of this action is taking place (and criticism that it was all a bubble).įast forward to the last few weeks, and NFTs are well and truly back, with a plethora of new projects and trends grabbing headlines.The NFT market surged throughout August as projects new and old alike accounted for billions of dollars' worth of collective trading volume.
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