Many people associate the hype around the NFT sphere with collections of unique tokens like CryptoPunks , Pudgy Penguins or Cool Cats . These collectible digital items have truly delivered impressive value increases since early 2021.
However, there is another NFT series called Art Blocks that has passed the attention of the general public, but at the same time has already brought millions of dollars to its early investors. Let’s talk about the situation in more detail.
Note that there are actually much more hype series of NFT tokens , and each new one seems more strange than the previous one. In the first half of August, the EtherRock line was especially popular , representing images of multi-colored stones. And although the pictures themselves are not useful, each of them is unique – and this already affects their value.
That is why such pictures are sold for tens and hundreds of thousands of dollars, and sometimes even millions. In turn, large-scale deals attract the attention of the media to them, which tell about what is happening to the audience and thus make these NFTs even more popular and expensive. For example, the day before a photo of a news program appeared on the Internet, in which the above-mentioned EtherRock series was discussed.
We have checked the actual data: the trading volumes of NFT-tokens this week already exceed the equivalent of $ 423 million. Since the week is only half over, it will surely become a record in the history of blockchain development.
At the same time, the hype around the development of a niche does not become quieter. This is supported by the next sale of coins for incredible amounts.
How much does NFT make?
Created by artist Tyler Hobbs, Fidenza token # 313 recently sold for 1,000 ETH or $ 3.3 million at current exchange rates. Most interestingly, the previous trade with this NFT was valued at only 0.58 ETH, or roughly $ 1400. It was held on June 11, shortly after minting, that is, the creation of an ERC-721 token on the Ethereum blockchain.
According to Decrypt , the Art Blocks series was launched in November 2020. It consists of 140 unique abstract paintings. Her popularity skyrocketed only a couple of weeks ago. The total amount of transactions with Art Blocks in August already exceeds the $ 294 million mark, while in general all purchases / sales of these NFTs are estimated at $ 389 million. At the time of this writing, the daily volume of transactions with Art Blocks is just over $ 35 million .
The Hobbs Fidenza token series, launched by Hobbs, is associated with abstract images, each with 999 unique rectangles. The position, color and shape of the figures are set by a special algorithm so that the presentation of each work of art is unlike the others from the line.
Fidenza # 313 is so far the most expensive of all the NFTs from the Art Block collection. But this is not the only token from Hobbs that has previously sold for more than a million dollars. According to the CryptoSlam platform , there are three such tokens in total, and all transactions on them were carried out in the last five days.
As the popularity of NFT continues to grow, Hobbs Fidenza is likely to become more expensive in the future. However, many cryptanalysts support the point of view that unique tokens and their fabulous value are just tools in the hands of those who want to launder large amounts of “dirty” money, that is, bring them out of the shadows using NFT sale / purchase operations. In any case, this is only in the hands of investors in the sphere of unique tokens: you can make money on the growth of projects associated with it with quite honest investments.
We believe that the potential for NFT tokens will continue to unfold more and more. And although they are now mostly centered around art and art objects, the concept of something unique and authentic will clearly go beyond that. In the meantime, buyers of popular work – especially early adopters – can enjoy the popularity of the niche that helps them increase their investment.