NFTs are gaining massive momentum, and they are definitely seeing a strong resurgence these days.
After they were able to generate $2.5 billion in sales during the first half of 2021, the sales volumes for the blockchain-based digital deeds of ownership dropped amidst the growing crisis of the environmental impact that Etehreum has.
Now, for a few weeks. NFTs are back, and they are bringing various projects and trends that are grabbing headlines. Check out the most significant ones below.
Membership in a club – Bored Apes
A new contender to the NFT crown emerged. The NFT zone goes crazy for Bored Ape Yacht Club – this is a series of NFTs that are depicting apes in various facial expressions.
Decrypto online publication notes that “They’re selling for serious cash too: a single Bored Ape NFT sold for $2.25 million worth of ETH this week, with the collection shifting more than $400 million of total volume to date, per CryptoSlam. ”
Bored Ape #7090 was purchased for 600.0 ETH
— boredapebot (@boredapebot) September 2, 2021
Big brands are coming in: Visa, Budweiser
It’s been also revealed that during the last wave of the NFT mania, massive companies are entering the NFT craze as well.
For instance, last week, Visa revealed the purchase of a CryptoPunk NFT for 50 ETH.
“Today, as we enter a new era of NFT-commerce, Visa welcomes CryptoPunk #7610 to our collection,” Visa tweeted on August 23.
Cuy Sheffield, head of crypto at Visa, is extremely bullish on NFTs and believes they are here to stay.
“NFTs are gaining momentum as digital-first sports memorabilia,” he stated not too long ago.
After that, he added that Visa expects a “huge range of new cases in the years ahead.”
These have been around for a few months, but they only gained momentum recently.
A lot of crypto users are clubbing together in DAOs that are specialized in buying up NFTs in order to gain exposure to the new asset class.
On the other hand, fractionalized ownership comes at another cost.
SEC Commissioner Hester Pierce recently said that fractionalized NFTs veer too close to unregistered securities.
“Fractionalization enables more people to have a piece of the investment pie. However, companies offering fractional NFTs to any investor may not have realised the regulatory implications of doing so.”
This is what Philipp Pieper, co-founder of Swarm Markets told Decrypt.
Stay tuned for more news.