AFEN TRENDS: 5 Things you should know about the new NFT euphoria.
We knew we had to bring you some exciting news about the world of NFTs and what has made them sneak into the spotlight again. Over the past week and till this moment, we have witnessed tweets and comments like “NFTs won’t let you down” , “It is NFT summer innit?” To get you the best juice in the NFT world, we have sneaked uninvited into twitter spaces about NFTs where we have listened to respectable NFT enthusiasts say “ Just like youtube in 2006, NFTs will blow up beyond our expectations’’
Things are certainly not slowing down… Is this going way too fast? Are we witnessing the final rise to stardom for NFTs?. Our answer is No! It is fast becoming a common opinion that NFTs do hold a lot of potential and will only get better with time and so, this no longer excites us, it is no more no less, a certainty at this point.
However, we are delighted to bring you 5 trends that has set fire to the foxtail, razing the Defi space, and massaging the egos of NFT maximalists like you and I:
- The Introduction of Legacy art listings: With a new crave for digital art forms in NFTs, newer use cases are popping and the race for importance amongst top NFT marketplaces have begun. Notable amongst these use cases is Afen’s legacy listing which will see the first government backed NFT platform in Africa to mint approved museum artifacts in series on the Afen NFT marketplace. The potential this holds for the project and the NFT industry is admirably gigantic. On the other hand, Afen just emerged as the best NFT project in Africa at the Binance Africa hackathon.
2. The recent state of the Markets: With the markets experiencing a downturn with bitcoin almost halving in value, sending the alts snowballing down, NFTs looked the most exciting thing in the crypto-verse, and yes garnered attention. An example of NFT projects influenced by the sliding markets is “ The Axie Infinity project” gaining traction and interest of crypto enthusiasts from the booming NFT markets in the face of a general volatile market.
3. SNL SKIT: There might be a saying that if you want to know something is going to explode soon, watch how celebrities react to it. And truly, there are examples that can possibly back this. Some of the examples are; tik tok during the Covid lockdown, club-house, house party and so many more. Infact, Covid19 really did its thing for virtual mediums. And so when the SNL skit which featured comedian Pete Davidson and rapper Jack Harlow amongst other notable features, breaking down the concept of NFTs, NFT believers knew they were in on some form of new conceptual digital gold.
4. Twitter releases NFTs: Twitter chose NFT marketplace rarible as its choice marketplace to release a series of 140 NFTs carrying the twitter Logo. Of course, expect the frenzy that this act came with and respect what it means for the world of NFTs. This comes after Jack Dorsey’s first tweet reportedly sold for a whooping 2.9million dollars.
5. The success of cryptopunks and crypto kitties: The success of these two NFT projects served as a serious eye opener to those who were involved in some form of crypto but never gave attention to NFTs. Crypto Kitties is a virtual game on the blockchain centered around the adoption of cats. This might seem so absurd but is a clear example of the irony that NFTs exude; an important but seemingly unserious aspect of crypto.
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