It’s a collection of 10,000 unique Bored Ape NFTs-one-of-a-kind digital collectibles that also provide real human experiences. Now that we’ve covered a classic example of “buyable JPEGs,” meet the Bored Ape Yacht Club. ![]() ![]() The lowest-priced CryptoPunk currently for sale (as of March 9, 2022) is 65.95 Ethereum ($179,070.74 USD). Now, in order to have “bragging rights” of being in the know you’ll have to pay a hefty price ( at least you’ll be the owner of a cute bio page). Originally, any Punk could be claimed for free, but the 10,000 minted 24×24 pixel art images were quickly scooped up. The early adapters: CryptoPunks are a perfect example of getting in on the action ahead of the curve. So what are some examples of original NFT communities? Think of a worldwide locked Excel spreadsheet, where the limit (of rows) does not exist. In layman’s terms, blockchain is a public record of all decentralized transactions, which aren’t owned by anyone or any group.An NFT can only have one owner at a time, which is managed through a unique blockchain ID.But as mentioned, they can also create access to physical experiences. NFTs represent ownership of nearly any real or intangible property in digital form, potentially associated with digital files such as photos, videos and audio.Before we dive deeper, here are the NFT basics: That’s because the ownership of NFTs themselves are driven by the desire for community, and individuals investing in the community early on expect some form of reward for getting in on the ground level. Now, similar to having their own Instagram accounts, they’ve moved on to NFT partnerships and production. Social media provided the impetus for making our fragmented world more connected. Even before the pandemic, people across the globe had an opportunity to find like-minded people in Facebook groups and Reddit communities, among others. Indeed, NFT keepsakes from the National Football League which were released throughout the season sold out within a day of posting, representing how virtual and physical experiences are becoming more intertwined.īut how did we get here? Ever-Evolving Digital CommunitiesĬOVID-19 lockdowns fast-tracked the transition from in-person experiences to virtual ones-both inside and outside the workplace. NFTs are carefully created and loaded with value that attracts buyers, who are drawn to perks such as Super Bowl memorabilia, lifelong Coachella passes, and elite food tours in New York City. It’s easy to dismiss NFTs as simply “buyable JPEGs”, but this significantly underestimates their true value. The limited quantities drive up the value of each NFT, as there will never be more than 50,000 Gen 0 “spots” in the CryptoKitty community. Each type of cat in the CryptoKitty verse has a specific quantity produced or minted: for example, the Gen 0 Kitties have a max of 50,000 in its series. That beloved Beanie elephant, which only had 2,000 produced, is not so different from the non-fungible token (NFT), CryptoKitty. Why were we so obsessed with buying Beanie Babies? What was the actual value behind owning a stuffed animal that prompts someone to spend thousands of dollars on it today? Both the physical ownership of the limited edition Peanut and the ability to converse with like-minded Beanie Baby-crazed friends provided a sense of exclusivity and community… Ringing any bells? ![]() Pretty vivid, right? Except now that Peanut the Elephant, the Beanie Baby collecting dust in your basement, is suddenly worth anywhere from $10-$2,500. Let’s take a journey back to the ‘90s for a minute: Britney Spears on your sticker-covered CD player, Dunkaroos in hand as you dangle a stretched out cord on the landline chatting with a friend- your favorite Beanie Baby perched proudly on the shelf.
0 Comments
Leave a Reply. |