NFT Market Is Getting Popular with New Initiatives
On Mar 08, 2021
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Many online NFT marketplaces are getting popular in the cryptocurrency market. The native tokens of those marketplaces are also getting attention from the community. The future seems bright for NFTs.
You have probably heard of the recent news on the media about NFT auctions and record-breaking prices. People set record prices for art pieces in those marketplaces. One of the most expensive NFT was a digital art collection from Mike Winkelmann, known as Beeple. He made $ 3.5 million from the sales. Sales occurred on the Nifty Gateway, which is owned by the Winklevoss brothers.
Land on the AXIE Infinity, F1 Delta Time Track, and Car, and cats on the CryptoKitties are some other examples of expensive NFT. Following these record-breaking sales, NFT become more appealing to the people.
As the NFT and collectibles become famous, the marketplaces are getting popular at the same time. The price of native tokens of the marketplaces is on the surge.
Enjin Coin As a Representation of In-Game Assets
Enjin Coin is the token of the Enjin platform, which focuses on blockchain-based gaming products. The items in the game have value in the real world in form of the Enjin coin. Every asset can be “melted” into a coin. All these assets are available on the blockchain, and the assets can be used in different games.
The price of ENJ is increasing from the beginning of March. On the 1st March, the price of ENJ was $ 0.56, and it surged up to $ 1.8. It means that during eight days, ENJ rose more than three times. If this NFT crave continues, then tokens will be bullish for a long time.
The Sale of Dorsey’s Tweet As NFT
NFT is becoming one of the sources of income for the owners of digital works. The CEO of Twitter, Jack Dorsey, auctioned the first tweet on the Valuables platform. The NFT tweet gained a lot of attention from the crowd. The buyer will receive a certificate digitally signed by Jack Dorsey, the metadata of the original tweet. Most of the data about this tweet are also available online. Even after the sale, the tweet will be available on Twitter.
just setting up my twttr
— jack (@jack) March 21, 2006
Currently, the highest bid is $ 2.5 million by Sina Estavi, CEO at Bridge Oracle and Cryptoland. $ 2.5 million is equal to about 1,450 Ether. Sina Estavi tweeted about its earlier bid ($ 600,000) and sold it as an NFT for $ 61.81.
It seems that fungible tokens will be trending for a long time. Those tokens will be the future of art in a digital form.
Disclaimer: All information provided in the content is for informational purposes only and should not perceive as an investment, financial, or trading advice. Any investment decision you make should be a personal choice based on financial knowledge, experience, and market research.