Interest in non-fungible tokens, or NFTs, has surged to almost the level of searches for the term 'ICO' during the 2017 bull market mania, according to data from Google Trends. With eight days left in March, the current spike in interest could even surpass interest in ICOs back then, which would be an impressive feat indeed.
The Initial Coin Offering mania in 2017 was partly the cause, and partly the result, of the 2017 bull run that culminated in Bitcoin peaking just shy of $20,000.
Given NFTs span gaming, music, art, virtual land — and can even represent real world objects like houses — they potentially have a much larger audience than the predominately finance and tech people who were drawn to ICOs.
Search interest has no doubt been sparked by the mainstream media enthusiastically covering NFTs being sold for jaw dropping prices including a collage from digital artist Beeple selling at Christie’s for $69 million and music producer 3LAU selling his new album as NFTs for $11.7 million.
Snoop Dog, Lionel Richie, and Boy George
Cryptocurrency exchange Crypto.com has announced it will launch a new NFT marketplace featuring drops from Snoop Dog, Lionel Richie, and Boy George along with James Bond’s favorite Formula One team Aston Martin. The platform, which is due to open on March 26, will focus on “delivering unique content from popular artists, musicians, athletes, and sports.
Aston Martin’s Cognizant Formula One team will launch a series of moments on the platform, capitalizing on the success of sports memorabilia platforms including NBA Top Shot and Sorare. Managing Director of the team Jefferson Slack stated:
“The collection of NFTs we’re making available capture the very first moments of our return to F1 after more than six decades.”
The new Aston Martin team makes its F1 race debut in Bahrain, on 28 March
Do the robot
Art created by Gaka-Chu, an autonomous robot developed by the Robonomics team, is currently being auctioned on NFT marketplace Rarible. The robot has actually been creating art for more than three years now, but this is reportedly the first time work created by the robot has been sold as an NFT.
The unique aspect is the fine art created by the robot is entirely self-managed, with the creation process recorded and included in the NFT. One piece, with a current bid of $1,674, features the robot drawing the Ethereum logo with the attached quote, “It would never happen without Ethereum. I can work, create and live my best life.”
3 Million GameTalkTalk users can soon mint ‘carbon neutral’ NFTs
Enjin has partnered with Ludena Protocol to integrate “eco-friendly NFTs” into Korea’s top social gaming app GameTalkTalk. The partnership will allow the app’s 3 million users to create their own NFTs for digital fashion, pets and real estate.
According to a release, Enjin’s multi-chain approach will reduce the impact of NFT minting on the environment (a hot button issue right now) through a number of technologies, including JumpNet, a gas-free scaling solution. The app also will showcase the technology to large gaming brands including Blizzard and SEGA.
$500,000 digital home on Mars
An NFT collector has paid $500,000 for a digital home in a Mars-like landscape. That’s more than most homes go for here in the physical world on Earth.
“Mars House” sold on Superrare earlier this week for 288 ETH. Krist Kim, the creator, dubbed it as the first true digital home, and it was designed in collaboration with an architect, using video game software.
In the Instagram post, Kim explained that the new owner could bring the home and furniture to life with the help of a team of glass furniture-makers based in Italy. Kim also has a strong vision that the art could be projected in a physical house.
“Everyone should install an LED wall in their house for NFT art.”
So in theory you could potentially show off your $500,000 NFT home on the wall of your $300,000 condo.