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What’s up in the NFT World? Don’t Miss Out These Latest Trends

It wonu2019t be an exaggeration to call 2021 the year of non-fungible tokens! A report by nonfungible.com says that NFT enthusiasts spent over $2 billion on them during the first three months of 2021 alone, a striking 2,100 percent increase from the last quarter of 2020

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What’s up in the NFT World? Don’t Miss Out These Latest Trends

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  1. What’s up in the NFT World? Don’t Miss Out These Latest Trends It won’t be an exaggeration to call 2021 the year of non-fungible tokens! A report by nonfungible.com says that NFT enthusiasts spent over $2 billion on them during the first three months of 2021 alone, a striking 2,100 percent increase from the last quarter of 2020. The increasing number of crypto-rich billionaires has hiked the fetish of owning a unique piece of digital art from the best NFT marketplace. The market keeps evolving because of novel trends entering every now and then. If you are an avid collector, you must know that new developments keep surfacing that change the market dynamics. After generating $2.5 billion in sales in the first half of 2021, NFT crypto took a dip due to the environmental impact of blockchain Ethereum. However, they are back now and setting the market on fire through the following trends. Bored Apes Which digital collectibles are taking the spotlight these days? Art collectors scan the top places to get their hands on the most exciting collectibles. Fashion is nothing if not volatile, and the newest contender for the crown of best NFT art crypto is the Bored Ape Yacht Club. But, what do people get out of it?

  2. ● They have become a symbol, with the NFT marketplace selling these art tokens at $2.25 million worth of ETH. Also, owners get access to exclusive Discord chat and may boast their collection in any NFT art marketplace. ● Monkey King Based on the famous Chinese biography “Journey to the West”, Monkey King consists of multiple avatars used in the metaverse. It is a series of animated characters developed by Chinese visual artist, Jianyi, who taught at the Beijing Film Academy. Metaverse is the next big thing, with tech giants venturing into it, so the popularity of these avatars is going sky-high. The renowned NFT marketplace XANALIA offers plenty of Monkey King avatars to the lucky, with each avatar being unique and depicting a different mood. CryptoPunks The first-ever NFT released back in 2017, CryptoPunks are 10,000 distinct characters generated through Ethereum blockchain. Earlier, anyone who possessed an Ethereum wallet could claim them. So, all of them fell into ownership in the blink of an eye. Now, crypto enthusiasts purchase them from the best NFT marketplace, where people can buy, bid, or sell their punks. No two characters are alike, and users can proudly own their punk in the digital art NFT marketplace.

  3. EtherRocks Are you still skeptical to accept that people are buying ape and penguin pictures for millions of dollars? Wait till you check out EtherRocks, a series of 100 NFTs consisting of images of rocks taken from royalty-free clip art. All the rocks are the same except for having different colors. Yet, this NFT art crypto is trading for millions of dollars. Why so famous, though? ● They take inspiration from the Pet Rock toy phenomenon, which was a craze during the 1970s. Secondly, they have vintage essence by being one of the first NFTs created in 2017. ● With only 100 available, no wonder they are selling like hotcakes. Art Blocks As unbelievable as it may sound, the Ethereum blockchain can not only represent the ownership of an art piece but also create one. In August alone, $583 million of trading took place as collectors created hype around new art drops. These art blocks are a hot seller because: ● Flat images or interactive 3D, every NFT is generated by the Ethereum blockchain, giving them a similar origin. The blocks are crypto-native as they represent the merger of aesthetic arts and blockchain. The pieces are becoming popular, with the blocks soaring in value in the NFT art marketplace. ● ● Shareable NFTs Given the hike in the popularity of NFT crypto, Decentralized Autonomous Organizations (DAO) have introduced fractionalized NFTs to accommodate the average crypto users. Unlike traditional artwork, NFT can be broken into cheaper parts and bought by the less privileged of society. Though, it poses a threat. Philipp Pieper, the co-founder of Swarm Markets, says, “Fractionalization allows more people to have a share of the investment pie. However, companies offering fractional NFTs to any investor may not have realized the regulatory implications of doing so.”

  4. Big Brands Purchasing NFTs The last wave of this mania saw big brands minting their NFTs and throwing them in the best NFT marketplace. We saw Nike using them to serve as the digital collectible of the shoes owned by someone. NFTs represent traditional art, so big names are now investing to buy existing artworks instead of creating new ones. Lately, Visa announced the purchase of the CryptoPunk NFT for 50 ETH (almost $165,000) to add to its collection of vintage commerce artifacts. This trend is different from what was happening at the start of the year. Brands like Pizza Hut and Taco Bell were rushing to depict their products through the NFTs. The Bottom Line Despite concerns over Ethereum’s stability, the digital art NFT marketplace has managed to bounce back. Investments from wealthy and high-profile celebrities are luring more people to own the NFT status badge. With new projects lined up and interesting trends grabbing headlines frequently, the NFT art marketplace will change rapidly. It indicates that one should stay updated with the market to keep up with the hottest non-fungible tokens trends.

  5. Join us: Website: https://xanalia.com/ Twitter: https://twitter.com/xanalia_nft

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