Pop culture NFT, Blockchain Art Game, Metaverse NFT, Charity Auction and worldwide NFT Art were the main topics of the year.
According to a recent report from Cointelegraph Exploration, the volume of non-fungible tokens (NFTs) sold this year could dwarf $ 18 billion. From works of art, music and characters to video clips and photos, these embossed titles for digital blockchain assets are in demand with collectors, investors and philanthropists alike. They can also be freely traded on decentralized NFT platforms such as OpenSea. Without further ado, let’s take a look at the biggest trends that are emerging in the NFT space.
1. Celebrities and Contemporary NFT
In first place this year, of course, because there is no shortage of NFT drops and collaborations in the entertainment industry. Highlights include Mila Kunis ‘Stone Cats’ NFT drop, which sold out in about 35 minutes and skyrocketed the price of fuel on the Ethereum blockchain for processing transactions.
In November, the rapper-songwriter Snoop Dogg auctioned a 3D collage consisting of 10 different portraits of himself at different stages of his professional career for a profit of up to 188 ETH (approx. 700,000 USD). In mid-December, NBA star Kevin Durant announced a partnership between his company 30 5 Ventures and Coinbase to work together on NFT Drops.
Then director Quentin Tarantino announced the auction of seven uncut scenes from Pulp Fiction like NFTs, which are based on the Privacy Driven Secret Network. However, Tarantino may have been too eager to join the hype as production company Miramax filed a lawsuit against Tarantino for alleged copyright infringement through the sale of its NFT.
However, according to direct reviews from crypto enthusiasts, the most popular NFTs are the “pixelated punks” created by artist Crypto Punks. The team currently holds the best-selling on OpenSea.io with 750,300 ethers (ETH) of digital art (about $ 3 billion at today’s prices) that has been traded since its inception in 2017. Her success has also attracted partnerships and business with top Hollywood agents.
Two hitmen. An iconic director. An Oscar-winning script. Friend.
– Tarantino NFTs (@TarantinoNFTs) December 1, 2021
2. Play NFT games for money
NFT is not just for display. One blockchain game, Axie Infinity, involves players dueling each other or unplayable characters and completing daily quests with in-game creatures known as Axies. Each Axie is a unique NFT that can be bought and sold on the Ethereum blockchain. Axie NFT Minting is called hybridization in the game, with rarer Axies having better stats and then costing a lot more. According to its official marketplace, the total volume of Axies bought and sold in the last 30 days is over 125,000 ETH, or about $ 500 million.
In addition, players can purchase virtual land NFTs in the activity. Such digital properties represent places where monsters and bosses spawn and store a wealth of resources. The most expensive Axie Infinity property ever sold took place last month for 550 ETH (then $ 2.3 million US).
✨A Genesis plot has just been sold for 550 ETH!
That’s over $ 2.3 million!
Our player-owned digital nation continues to shock the world pic.twitter.com/SVvAtFNYUF
– Axie Infinity (@AxieInfinity) November 24, 2021
Another popular choice is the fantasy soccer game NFT Sorare. Through Sorare, players can manage their own teams using digital player NFT cards. According to its CEO Nicholas Julia, more than half a million players have joined the platform organically without any marketing effort.
3. Metaverse NFTs
Developments in Metaverse, a digital space that includes 3D augmented reality, have picked up pace since Facebook was renamed Meta in October. NFTs play a key role in Metaverse in ensuring the uniqueness of virtual assets such as player avatars. Meta’s Product Manager Metaverse, Vishal Shah, said in an announcement that the new platform will “make it easier for anyone to sell limited digital educational items like NFTs to display them in the air. to resell their digital space and even safely to the next ”. Person.”
A massive 21-story skyscraper is currently under construction in Bloktopia’s metaverse to pay homage to the maximum of 21 million Bitcoin (BTC) that can be created. Popular consumer brands like Adidas and Nike are also participating in the Metaverse, working with contributors to develop NFT artwork for their brands of the same name. Above all, the developers of the virtual Metaverse game Sandbox strive to defend the kingdom against the monopoly threat of large technologies.
4. Charity NFT
The number of charities accepting crypto donations in 2021 has increased significantly and is working with NFT platforms to allow a portion of the proceeds from the auction to go directly to institutions, with direct NFT donations being a possible future development path. In the United States, investors can deduct their charitable donations directly from their ordinary income, usually for a number of years, creating a win-win situation.
However, philanthropic projects in the NFT space go much further. So far, NFT auctions have helped raise enough funds to build a school in Uganda and support frontline health workers. In 2022, an upcoming NFT auction will help raise awareness of contemporary artists with developmental disabilities. The proceeds from another fund will go to a charity selected by the former Italian royal family.
5. World art NFT
In traditional art, artists have to travel the world to participate in exhibitions and auctions to promote their work – a privilege only available to those with sufficient capital. However, with the advent of decentralized NFTs marketplaces, anyone around the world can mint, exhibit and sell their works of art with a small amount of seed capital, thus connecting cultures around the world.
Two notable mentions are Melanated NFT Gallery and Mongol NFTs. Melanated NFT Gallery features contemporary African and Latinx art such as landscapes, photos of jazz icon Miles Davis, DJ music, guitar sounds, trading cards, and more. Meanwhile, the Mongolian NFTs platform contains NFT images of the nomadic pastoral steppes of the homonymous country and its history, traditions and customs as told by Mongolian artists. It surpassed 100,000 registered users and 1.5 billion Mongolian Tugrik cars ($ 550,000).