Do you remember the CryptoKitties? Ethereum’s classic NFTs are increasing in value

Soon

  • CryptoKitties, some of the first Ethereum NFTs of 2017, began to increase in value during the recent NFT market rally.
  • Many of the original Genesis NFT 100 CryptoKitties sold for hundreds of thousands of dollars ETH each on the last day.

Dapper Labs’ CryptoKitties are seminal NFT crypto collectibles. While there are older collections (such as CryptoPunk), CryptoKitties were the first NFTs to be minted using Ethereum’s ERC-721 token standard and its popularity. quickly congested the network. Now, amid the recent NFT market rally, some of the older CryptoKitties are back in high demand.

Roughly $ 7.27 million worth of NFT CryptoKitties were traded over a 24-hour period from Thursday to early Friday, according to data from DappRadar. This is a dramatic comeback for the 2017 collection, which was largely overlooked during this year’s NFT market surge. In fact, that’s a 22.106% daily increase, according to the cryptocurrency analytics firm.

Much of the latest interest has focused on NFTs from CryptoKitties’ original ‘genesis’ line. se were the first 100 NFTs to be minted on the Ethereum blockchain using the now-widespread standard ERC-721 token. A NFT acts as a deed of ownership to a digital item, such as an image or video file. With CryptoKitties, represent a cartoon cat with random strokes.

Noted NFT collector Pranksy, recently the victim of a scam made on behalf of famous artist Banksy (no apparent relationship) – may have sparked the latest round of frenzied collecting around CryptoPunks.

Yesterday, Pranksy tweeted about buying a pair of the original 100 founding CryptoKitties, which were bought for 100 ETH (approximately $ 379,000) each. Collector colleagues from NFT VonMises, OSF, and Punk 6529 then claimed their respective purchases from the founders CryptoKitties NFT, whose market data from OpenSea shows they sold for at least 100 ETH per person. One of the founders of CryptoKitties NFT was sold for 225 ETH (almost $ 895,000) this morning.

Also read Which Altcoins made headlines in the first half of 2021?

CryptoKitties NFT owners can breed their cats together to create new variants and there are now over two million cats in total in the collection. Dapper’s first project is widely credited with popularizing the NFT concept before this year’s market boom. top 100 of these NFTs appear to be of increasing historical value to collectors, and this latest batch of rising sales prices reflects this view.

Dapper Labs went on to produce another major NFT project: NBA’s Best Shot, which launched last year and helped bring collectible cryptocurrencies into the mainstream last spring. project, which runs on Dapper’s custom blockchain flow, has generated more than $ 700 million in trading volume to date, according to CryptoSlam.

CryptoKitties will actually switch from Ethereum to Flow, given the latter blockchain’s ability to handle more transitions with lower fees, but it is unclear when that will happen. transition was the first triggered in May 2020, but it has not happened yet.

Since then, NBA Top Shot has been released and its popularity has skyrocketed, which could delay or disrupt Dapper’s plans. Dapper is also working on NFT partnerships with the UFC and the Dr. Seuss Brand, in addition.

Source link

more

Related Posts

© 2024 Cryptocoin Budisma.net