Connect with us

NFT

Top 100 Amazing Facts about NFT’s

Published

on

top 100 amazing facts about NFT's

Whether it’s staking your Bored Ape or fractionalizing your Doge meme, the world of NFTs is both weird and wonderful. Now five years into the NFT phenomenon, the space has seen its fair share of ups, downs, and outside interest. From Beeple’s record-breaking sale to the interest of celebrities and sports personalities, NFTs are now firmly part of the investment landscape and they aren’t going anywhere anytime soon.

Also Read – Top 15 NFT Magazines on FeedSpot.

To take stock and appreciate how far the industry has come, here are 100 amazing facts about NFTs.

1. NFTs are unique

While cryptocurrencies like Bitcoin are “fungible,” meaning they are replaceable and all worth the same, each and every NFT is unique with its own verifiable identity. “Non-fungible” tokens – such as Ethereum’s ERC-721 standard – are unique and therefore are worth as much as people are willing to pay for them.

Just like rare Pokemon Cards, NFT’s posses the same quality and rarity factor, but NFT’s make it even stronger by providing users with a Digital Certificate of Ownership that stored on the blockchain network and that changes everything.

2. Millennials LOVE NFTs

 Millennials LOVE NFTs

While you may think it’s Gen Z that’s driving the NFT boom, it is, in fact, millennials that are giving the scene momentum. A poll (https://assets.morningconsult.com/wp-uploads/2021/04/28103834/2103110_crosstabs_MC_SPORTS_NFTS_Adults_v1_LM.pdf) conducted by Morning Consult found that those born between 1981-1996 were three times more likely to trade NFTs than their younger peers.

3. Pretty much anything can become an NFT

We tend to only think of NFTs as digital images and art, but they are in fact simply digital proofs of ownership, backed by a blockchain. Thanks to the flexibility of smart contracts, ownership of anything can be represented by NFTs, including physical, real-world assets.

Advertisement
 Pretty much anything can become an NFT

Just a year ago An actual house was turned into an NFT by Artist Kii Arens. Read the full story here – https://www.nftsstreet.com/an-actual-house-is-now-an-nft/

4. Singapore, Hong Kong, and China show the most interest in NFTs

While the global search rate for “NFTs” is going up all the time, it is Asian nations that top the charts, with Singapore currently sitting at number 1. Since Singapore’s central bank decided not to regulate (https://www.channelnewsasia.com/singapore/nft-non-fungible-tokens-opportunities-risks-singapore-creators-focus-2397706)  the NFT market, interest has skyrocketed.

5. NFTs are helping artists reach new audiences

NFTs are helping artists reach new audiences

NFTs are now considered the great disruptor of the traditional art market. While memes and generative collectibles currently dominate the NFT world, platforms such as Pinsl (https://www.pinsl.io/) are bridging the gap between traditional artists and NFT collectors.

6. Ethereum is still the biggest blockchain for NFTs

Ethereum is still the biggest blockchain for NFTs

Ethereum is still the most dominant when it comes to NFTs thanks to its head start in the space. Despite this, the blockchain’s high fees and increased congestion are causing NFT investors to start looking to other networks that are rapidly gaining ground.

7. NFT rely on smart contracts

When you mint an NFT you create a smart contract that exists on a blockchain. On Ethereum, the NFT standards are known as ERC-721 and ERC-1155. Other blockchains have their own smart contract standards that can hold more information and include different functionality.

8. VanityBlocks NFTs use an entire Ethereum block

VanityBlocks NFTs use an entire Ethereum block

The project VanityBlocks turns entire Ethereum transaction blocks into NFTs, which can normally record hundreds of transactions. The NFTs include reference to an image of a pair of eyes and max-out Ethereum’s 30 million gas limit. They are already finding interested buyers despite being criticized for being wasteful.

9. Snoop Dogg is a secret NFT kingpin

Snoop Dogg is a secret NFT kingpin

Rapper Snoop Dogg is not only a big crypto investor, but also one of the NFTs biggest whales. Revealing himself to be the collector “Cozomo de’ Medici” (https://twitter.com/CozomoMedici), Snoop Dogg’s NFT wallet contained over $17 million worth of NFTs. You can see the wallet here (https://opensea.io/Cozomo_de_Medici), containing Bored Apes, Cryptopunks, and hundreds of other NFTs.

10. You can see an NFT’s entire ownership history

You can see an NFT's entire ownership history

Using platforms such as EtherScan, or even OpenSea, you can see an NFT’s entire history. This is thanks to the transparent nature of decentralized blockchains which record permanently all transactions to prevent corruption and establish proof.  Taking Cryptopunk #1 (https://opensea.io/assets/0xb47e3cd837ddf8e4c57f05d70ab865de6e193bbb/1), for example, we can see every transfer, purchase, and wallet that has held the token.

11. People get rich off NFTs

 People get rich off NFTs
Benyamin Ahmed 12 Year Old NFT Millionaire – Image – https://innovation-village.com/

For many, NFTs represent part of the digital gold rush. NFTs such as Cryptopunk #7523 have appreciated in value by more than 71,000% to a record-breaking $11.8 million since it was minted. And new opportunities are still cropping up all the time. The World of Women NFT #9248 (https://opensea.io/assets/0xe785e82358879f061bc3dcac6f0444462d4b5330/9248) was originally bought in July 2021 for just $300. It was last sold in January for a crazy $824,000.

Here is a list of top 60 most expensive cryptopunks ever Sold!. – https://www.nftsstreet.com/top-60-most-expensive-cryptopunks-ever-sold/

12. Ongoing royalties are a thing

 Ongoing royalties are a thing

When you mint and sell an NFT on platforms such as OpenSea, you can receive ongoing royalties each and every time it sells in the future. This rate is typically set to 10%, meaning, should your NFT appreciate in value in the future you receive an increasingly larger sum of money. Blockchains such as Algorand can even program royalties right into the NFT itself!

13. The NFT market exploded in 2021

The NFT market exploded in 2021
Image: Reuters

While the NFT scene had been steadily growing between the years 2017-2020, it was 2021 that saw NFTs really explode onto the scene. By the end of 2021, almost $41 billion had been spent on NFTs which is almost the same amount as the traditional global art market.

14. The price of ETH is a lot higher since the first NFTs

The price of ETH is a lot higher since the first NFTs
Image: Statista.com

While the average price of NFTs has steadily increased, so has the price of Ether. In 2017 shortly before the launch of projects like CryptoPunks and CryptoKitties, Ether started the year valued at around $7, it is now valued at over $3000, often tipping over $4000.

15. Colored Coins was the first NFT project

Colored Coins was the first NFT project

One of the very first NFT-like projects was Colored Coins which utilized Bitcoin’s blockchain. The idea was to use Bitcoin for assets such as digital collectibles, property, shares, coupons, and more. Despite being limited by the capabilities of Bitcoin’s scripting language, the project opened the door for NFTs-proper.

16. Cryptopunks is considered the first (true) NFT project

 Cryptopunks is considered the first (true) NFT project

While the history of NFTs can be traced back further, it was CryptoPunks that really kick-started the NFT space. Launched in 2017 by LarvaLabs, CryptoPunks’ creators experimented with the idea of digital ownership and value using pixelated punk character portraits.

17. Cryptokitties was one of the first NFT projects

 Cryptokitties was one of the first NFT projects

Not long after CryptoPunks, CryptoKitties entered the scene bringing the idea of NFT gaming to crypto-technology. The game centers around breeding and collecting adorable cats, with total ownership by the token holder. The game set the benchmark for future NFT games and is still popular today.

18. NBA Top Shots kept the NBA league going during lockdown

NBA Top Shots kept the NBA league going during lockdown

While most industries took a considerable hit during the COVID-19 pandemic, the NBA found a way to recoup losses using NFTs. Thanks to their partnership with Dapper Labs, the NBA Top Shot marketplace generated considerable income for the league, with the trading cards now generating hundreds of millions of dollars.

19. NFTs aren’t going anywhere

While for many people, NFTs represent the future of digital ownership, they still generate a lot of hate. As with all disruptive technology such as the internet and e-commerce, many commentators have called the NFT scene a bubble that will burst. Nevertheless, with the backing of younger generations, the art scene, financial institutions, and growing commercial interest, it’s clear NFTs are here to stay.

20. Creating an NFT is easy

While creating an NFT might sound daunting, it’s actually extremely easy. Typically referred to as “minting,” the easiest method is to use a platform such as OpenSea where the process (~https://support.opensea.io/hc/en-us/articles/360063498313-How-do-I-create-an-NFT-) is streamlined and intended for anyone to be able to use.

Advertisement

Also Read – How to get NFT for FREE?

21. Axie Infinity has surpassed $4 billion in NFT sales

 Axie Infinity has surpassed $4 billion in NFT sales
Image : https://bitcoinke.io/

By February 2022, Axie Infinity NFTs had exceeded a whopping $4 billion in sales, according to CryptoSlam (https://cryptoslam.io/axie-infinity). This makes Axie the most traded NFT collection ever, games, art, collectibles, or otherwise. The game’s model is being touted as a template for future projects to follow.

22. Cryptopunks were given away for FREE

Image: Techcrunch

Back upon the launch of CryptoPunks on June 23, 2017, the vast majority of the 10,000 tokens were given away for free to anyone with an Ethereum compatible wallet. With a lot of those tokens now worth hundreds of thousands – if not millions! – of dollars, the project shows the explosive nature of investing in NFTs.

23. Memes are Now Immortalized as NFTs

While all memes tend to fall out of usage after a while, the images themselves are now being preserved forever using blockchains and NFTs. Images such as Bad Luck Brian (https://www.businessinsider.com/bad-luck-brian-meme-nft-crypto-art-blockchain-ethereum-foundation-2021-3?r=US&IR=T) and even the retro “Charlie Bit My Finger” is now an NFT (https://www.charliebitme.com/#/). The video sold for $761,000 and is now removed from Youtube with the funds used to fund the kids’ education.

24. People donated NFTs to Ukraine’s War Efforts

 People donated NFTs to Ukraine's War Efforts

During the Russian invasion of Ukraine, the government sought aid in the form of crypto donations. While Ukraine received tens of millions of dollars worth of cryptocurrency, the nation also found NFTs being sent to their wallet, including CryptoPunk #5364 (https://deepnftvalue.com/punks/5364/) which is worth an estimated $200,000.

25. NFT Real Estate is Big Business

With Meta (Facebook) looking to bring the concept of the metaverse to the wider general public, early adopters are paying a pretty penny to grab plots of virtual land before it’s too late, some fetching more than $1 million. These land plots can be used in any way you see fit, from creating a mansion to running a theme park, to creating a game world within the metaverse itself.

26. Beeple’s “Everydays” sold for $69.3 million

Selling in March 2021, Beeple’s Everydays is one of the most expensive NFTs ever. The NFT is a mosaic-like compilation of Beeple’s work since 2007 and sold for a mind-melting $69.3 million at Christie’s auction house. It is still the most expensive NFT sold to a single owner.

27. “The Merge” is the most expensive NFT ever sold

Knocking Beeple’s “Everydays” off the top spot, “The Merge” is a collectively-owned NFT that fetched $91.8 million. A total of almost 30,000 contributors pitched together to purchase the artwork by digital artist Pak which involves 312,686 “pieces” that merge to form a single NFT.

28. Cardano Now Has NFTs

Ethereum alternative, Cardano, has been making great strides towards its own NFT standard which is now implemented in marketplaces such as CNFT.io (https://cnft.io/). While still early days, the blockchain now has more than 800,000 NFTs minted on it with the main differences being the lower gas fees and faster transaction speeds.

29. NFTs can be used to secure loans

Through decentralized financial (DeFi) apps, the interoperability of NFTs means they can be used as collateral to secure loans. Platforms such as NFTfi (https://www.nftfi.com/) and Drops.co (https://drops.co/) mean NFT owners can use their assets to access liquidity when they need it.

30. The Original Doge Meme Has Been Fractionalized

Image: https://futurism.com/

An NFT of the popular shiba inu “Doge” meme can now be part-owned by anyone thanks to Fractional.art (https://fractional.art/vaults/0xbaac2b4491727d78d2b78815144570b9f2fe8899) and the token’s owner, PleasrDAO. The meme has been “fractionalized” into billions of ERC-20 tokens called DOG with collectors able to snatch up as much as they can afford.

31. Gary Vee is a Vocal Supporter of NFTs

Image: Gary Vee YouTube

The popular investor and entrepreneur Gary Vaynerchuk, better known as Gary Vee is one of the NFT space’s most vocal supporters. Renowned for his spot-on predictions about emerging technology, Vee believes NFTs represent the future of ownership and even has his own NFT collection (https://veefriends.com/).

32. Ethereum 2.0 and Layer 2 solutions will Help with Gas Fees

Over the course of 2021, as the NFT exploded, so did Ethereum’s gas fees which move simultaneously upwards with increased network activity. With NFT activity largely responsible for this, many are now looking to layer 2 scaling solutions such as Loopring and Immutable X (https://www.immutable.com/) as well as Ethereum’s upcoming move to a proof-of-stake consensus model.

33. You can mint NFTs for free on OpenSea

In an effort to save users money on gas fees and reduce overall network congestion on blockchains, OpenSea (https://support.opensea.io/hc/en-us/articles/1500003076601-Can-I-list-an-item-without-paying-to-mint-it-) has now implemented tools to allow something called “lazy minting.” This method allows sellers to list NFT tokens as collections that are only minted using the ERC-1155 standard on-chain after purchase.

34. Damien Hirst has created NFTs

The popular modern artist Damien Hirst’s first foray into the world of NFTs was called “The Currency.” It involved the sale of 10,000 hand-painted pieces of paper covered in colorful polka-dots and an accompanying NFT. Hirst’s big idea is to force people to consider which they value more by requiring one or the other to be burned a year after purchase.

35. NFT Games Have Their Own Marketplaces

While you can buy and sell NFT gaming assets on third-party marketplaces, the majority of in-game assets are bought and sold on their native market. Games such as Axie Infinity use their in-house Ronin network to handle the marketplace (https://marketplace.axieinfinity.com/) and the thousands of daily transactions.

36. Visa bought an NFT for $150,000

Yet further bringing NFTs into the mainstream was Visa’s purchase of CryptoPunk #7610 ( https://www.larvalabs.com/cryptopunks/details/7610 ) in August 2021. The sale cost the payment-processing company $150,000 and is considered a landmark moment in NFT history.

37. Eminem bought a Bored Ape NFT

Joining the likes of other rappers like Post Malone and Lil Baby, Eminem now owns a Bored Ape Yacht Club NFT purchasing #9055 (https://opensea.io/assets/0xbc4ca0eda7647a8ab7c2061c2e118a18a936f13d/9055) at the start of 2022. The token features artwork which has previously been likened to the rapper with the previous owner even Tweeting in the past (https://twitter.com/Gee__Gazza/status/1455588012658626562?s=20&t=DAJ8c5tUVAmOhEI9ZDcGeg) that he believes Eminem will one day own it.

38. OpenSea is Still the Biggest NFT Marketplace

Data: Dune Analytics

Despite the emergence of other NFT marketplaces, OpenSea still dominates the space as the most used platform. Since its inception in 2017, the website has received sales of over $20 billion, most of which were in 2021.

39. 3LAU has made Millions Selling NFT MP3s

Image: https://djmag.com/

While the NFT space is most popular for visual imagery, blockchain tech is also being used to sell MP3s. The popular digital musician 3LAU, for example, sold his masterpiece Gunky’s Uprising (https://niftygateway.com/itemdetail/primary/0x4439f83ed9cfb43df886bdd23a39439141be0f77/1) on Nifty Gateway for a whopping $1,333,333.33. The 3-minute piece sees 3LAU collaborate with the art director Slime Sunday and captures the energy of the NFT space.

40. Jack Dorsey Sold an NFT of his First Tweet for $2.9 Million

Now the CEO of payments company Square, Twitter founder Jack Dorsey sold his very first tweet for $2.9 million in March 2021. The listing of the tweet kicked off a frenzied bidding war on V.Cent.co and eventually sold to the CEO of Bridge Oracle, Sina Estavi. Dorsey donated the proceeds to charity.

41. Fewocious is One of The NFT Scene’s Biggest Success Stories

One of the NFT space’s biggest success stories, Fewocious (https://fewocious.com/) is a digital media creator whose real name is Victor Langlois. After a tumultuous childhood, Victor has used NFTs to pivot a career as an artist, starting when they were just 13 years old in Las Vegas.

42. The Number of Active Users on OpenSea is now Over a Million

Early in 2022, data from the Dune analytics platform (https://dune.xyz/queries/2877/5680) indicated OpenSea had now crossed the one million active wallet threshold. While a positive sign of the NFT scene’s growth, the news comes as no surprise with OpenSea’s 2022 trading volume already surpassing $2 billion by the time the news was announced.

43. Solana’s NFT Scene is Growing

With its price soaring at the end of the summer of 2021, the Ethereum alternative, Solana, has also seen growth in its NFT scene. The most popular collection on the blockchain is the Degenerate Ape Academy (https://www.degenape.academy/) which surpassed both CryptoPunks and Bored Ape Yacht Club in trading volume in August 2021.

44. Axie Infinity is (still) the most popular NFT game

Borrowing heavily from the battling-pet theme of Pokemon, Axie Infinity (https://axieinfinity.com/) is the biggest NFT game currently out. Using NFTs to establish ownership and generate rewards for players, the play-to-earn game is especially popular in the Philippines where it was used to financially help the recently unemployed.

45. The Azuki Collection’s Artist formerly Worked on Overwatch

In February 2022, $300 million worth of Azuki (https://www.azuki.com/)  NFTs were transacted in a single week, beating out even BAYC. The success of the anime-inspired collection of avatar pictures is partly down to the involvement of Arnold Tsang, the artist behind the project. Tsang is best known for being the lead character designer for the FPS game Overwatch.

46. Axie Infinity Players can “Borrow” NFTS

With the popularity of the game skyrocketing, the price of Axie tokens has likewise shot upwards. This has meant a lot of prospective players can’t afford to buy into the game. Fortunately, the game’s community has developed a “scholarship” (https://www.gfinityesports.com/cryptocurrency/axie-infinity-scholarship-what-is-it-how-to-apply-axs/) program where NFTs are loaned in return for a percentage of any rewards earned.

47. Anyone can Create a Fractional NFT

Using Fractional.art, anyone can turn their NFT into a collectively-owned collectible. This lowers the cost of ownership and makes NFTs more accessible to a broad range of collectors. It also solves the liquidity problem of NFTs, with some owners choosing to sell just 10-20% of their token.

Advertisement

48.  Most NFT Collections are Generative

Browse through an NFT marketplace and you’ll see that most collections, such as Doodles (https://opensea.io/collection/doodles-official), consist of similar-looking but unique profile picture images. These “generative” artworks are created using algorithms that randomly and stylistically mix-and-match properties to create thousands of unique creations, ensuring owners each have a one-of-a-kind collectible.

49. Your NFT has a de facto Rarity Score

Using tools such as Rarity.tools (https://rarity.tools/) you can check your NFTs rarity score against other tokens. This score is calculated based on the number of traits and their frequency within the collection. You can even see which tokens share these traits, with a full breakdown of how your NFTs rarity score was calculated.

50. You can Buy NFTs in bulk

Platforms such as Genie (https://www.genie.xyz/) are driving a bulk buying craze in the NFT space. Genie, used as an NFT aggregator, allows users to buy batches of Ethereum-based NFTs from multiple marketplaces. This saves time browsing multiple marketplaces and has generated more than $125 million in trading volume to date.

51. Twitter is the Main Hangout for NFT Collectors

While other social media platforms have their advantages, the NFT community has chosen Twitter to be the website of choice for announcing NFT news such as drops and whitelisting. As well as Twitter, the community also uses Discord as a live hangout.

52. The Average Cost of Minting an NFT is $70-$150

While OpenSea has implemented lazy-minting to cut down on unnecessary fees and network congestion, the cost of minting a token is now between $70-$150. While this figure can seem steep, with the massive amount of money flowing in the NFT space, the initial cost of investment is often more than made up for.

53. Eminem sold an NFT Collection for Over $1.7 million

As well as being an owner of a Bored Ape, Eminem also released his own NFT collection in April 2021. The collection was known as “Shady Con” which features 888 card packs containing six Eminem-themed NFT card collectibles. The drop raked in a cool $1.7 million worth of sales.

54. $41 Billion was Spent on NFTs in 2021

With $10-$20 million worth of NFTs sold each and every week the NFT explosion that was 2021 led to a market value exceeding $41 billion. While geopolitical and economic concerns are expected to create some temporary slowdown to this in 2022, the NFT space’s growth looks to continue.

55. Traditional Artists are Finding Success with NFTs

While younger generational artists such as Fewocious are starting their careers with NFTs, other traditional artists such as Trevor Jones are using the space to find renewed success. Describing his work as “where art meets technology,” Jones has used NFTs to reach audiences he would never have otherwise.

Advertisement

56. Most NFT Sales in 2021 were less than $200

Despite the massive amount of money flowing in and out of the NFT market in 2021, most sales were well below $200. While the big-ticket items get most of the news attention, the smaller-scale sales are still the ones driving the market’s overall growth.

57. 15,000 – 50,000 NFTs are sold each week

Look back to data from 2017 and you will see NFT sales amounted to the low hundreds a week. As adoption of the technology grew, so did the sales. Now, data (https://nonfungible.com/) shows there are somewhere between 15,000 and 50,000 sales each and every week.

58. You can’t forge an NFT

Unlike the traditional art market where forgeries are rife, NFTs contain code that proves provenance and ownership without a shadow of a doubt using a blockchain’s permissionless ledger. With over 50% of art on the traditional market likely to be fake (https://news.artnet.com/market/over-50-percent-of-art-is-fake-130821), this gives NFTs a massive edge over the alternative.

59. Art theft is a Growing NFT Problem

Image: The Verge

While NFTs are paving the way for artists to get their work in front of a whole new market, there is a growing problem of art theft within the space. Artists are finding their work increasingly used to create NFTs without their permission, as well as the use of copyrighted materials. Fortunately, platforms such as OpenSea have a quick response team (https://support.opensea.io/hc/en-us/articles/4404423595667-How-can-I-report-fraudulent-content-on-OpenSea-) to remove such NFTs when reported. There is also a popular Twitter account (https://twitter.com/NFTtheft?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor) dedicated to helping remove such NFT collections.

60. An NFT of NYAN Cat sold for $600,000

One of the most valuable meme NFTs on the market is Animated Flying Cat With a Pop-Tart Body, better known as Nyan Cat in February 2021. The creator of Nyan Cat, Chris Torres netted almost $600,000 for the animated gif.

61. Larva Labs Sold Cryptopunks to Yuga Labs

The owners of CryptoPunks and Meebits, Larva Labs, sold the intellectual property and commercial rights to the projects to the owners of Bored Ape Yacht Club, Yuga Labs. The Founders of Larva Labs, Matt Hall and John Watkinson, believed it was time to hand over the reins and that Yuga Labs were better equipped to take over stewardship

Full Story: Bored Ape Yacht Club Creator Acquires CryptoPunks and Meebits NFT Collection

62. Paris Hilton is a keen NFT investor

Hotel chain heiress, Paris Hilton, has been investing in crypto since 2016 and been collecting NFTs not long after. The millionaire turned digital investor has also dropped her own NFT collections, some for charity. Her biggest sale yet is “Iconic Crypto Queen(https://www.niftygateway.com/itemdetail/primary/0x22fb4e4f7fd19092eb3f2f33e14b528a94d0c408/1)  which sold for $1.1 million.

63. The NFT Space is coming under Fire for Environmental Concerns

As the NFT space has expanded, so too has the number of transactions. With Ethereum still a proof-of-work blockchain, this has meant an increasing amount of energy and computing power has been necessary to process all the transactions and verify them. Environmentalists have pointed out the massive amount of emissions the space has created, leading to a push towards innovations such as lazy-minting and the use of more green blockchains.

Also Read: How do NFTs Affect the Environment?

Advertisement

64. Big Businesses are Jumping into Decentraland

With the metaverse touted as the next big thing, virtual worlds such as Decentraland that utilize blockchain technology and NFTs are already ahead of the curve. Decentraland has now hosted events from Coca-Cola, Samsung now has a store within the virtual space, and VICE Media has now established its digital headquarters there.

65. A Quarter of Millennials Collect NFTs

While it may seem the younger generations are the ones who adopt new technology the quickest, it’s actually millennials who are driving the NFT space forward. According to a survey by Morning Consult, millennials (born between 1981-1996) are the most likely to engage in NFT collecting with 42% saying they already do.

66. Nigeria has a Growing NFT art scene

While the NFT craze is sweeping the whole globe, Nigeria is seeing a particularly high uptake in adoption. Nigerian artists are minting their art as NFTs to reach further afield audiences. Artists such as Anthony Azekwoh (https://www.anthonyazekwoh.com/nft) are using platforms like SuperRare and NiftyGateway to sell their art internationally.

67. Californians Buy More NFTs than Any Other US people

The people of the West Coast are the most interested in NFTs out of all Americans according to data from bitreporter (https://www.bitreporter.com/). California especially is well known for being a “first mover” state in terms of adoption of new tech, culture, art, and gaming.

68. Most People Still don’t know What NFTs Are – For Real Though

While NFT awareness is growing, the general understanding of non-fungibles is still very low. With most media outlets choosing to focus on the high-value of profile picture NFTs such as BAYC and CryptoPunks, the utility and future of the technology are often overlooked. Japan currently tops the list of NFT unaware adults.

69. South Park made an episode based on NFTs

In an episode aired in December 2021, South Park let NFTs have it in a brutal but hilarious assault on blockchain technology. The episode, named “The Return of COVID” saw an adult version of the character Butters sell NFTs as a scam artist to unsuspecting others.

70. Ethereum is energy-intensive

Most NFTs still rely on the Ethereum network which uses massive amounts of energy to process transactions. A single Ethereum transaction is estimated to use 238 kWh of energy. This is in stark contrast to a payment processor such as VISA which uses 148 kWh to process 100k transactions!

71. Ethereum 2.0 will make NFT transactions a lot greener!

Ethereum’s current energy consumption is so high because it uses a proof-of-work consensus model. Upon the rollout of Ethereum 2.0 (https://ethereum.org/en/upgrades/), the network will transition to using a proof-of-stake model that will use an estimated 99.95% less energy meaning NFT transactions will be a lot greener!

72. There are green NFT blockchains

While some blockchains are reverse-engineering their way to being more green, some are designed with being environmentally in mind from the beginning. One such blockchain is Harmony (ONE) (https://www.harmony.one/) which uses sharding and “Effective Proof-of-Stake” to process transactions using a lot less energy than competitors.

Advertisement

73. Elon Musk’s girlfriend made $5.8 million in 20 minutes with NFTs

Elon Musk’s on-again-off-again, musician girlfriend Grimes is an avid NFT collector, being involved in the space for quite some time. Not one to miss out on a chance to make some more money, Grumes made a collection called “WarNymph” (https://niftygateway.com/collections/warnymphvolume1) that made almost $6 million in just 20 minutes after dropping.

74. The “Disaster Girl” meme NFT sold for $500k

74. The “Disaster Girl” meme NFT sold for $500k

At the time the photo was taken, Zoe Roth was just 4 years old. Now, the star of the “Disaster Girl” meme is in college and has made $500,000 selling the meme as an NFT. She has chosen to use the money to pay off student debts and donate to charity.

Read Full Story: ‘Disaster Girl’ Sold Her Meme As an NFT To Pay Student Loans

75. Esports NFTs may be the next big thing

While the NFT market has been growing, so has the competitive esports scene which is now worth almost $2 billion with an estimated 291 million esports viewers by 2024 (https://www.statista.com/statistics/490480/global-esports-audience-size-viewer-type/). NFTs are seen as a way for e-sports competitors to potentially prove ownership of an exclusive skin or produce highlight NFTs similar to Dapper Labs’ NBA Top Shot.

76. PUBG may use Solana to create NFTs

The creator of the popular battle royale game PUBG, Krafton, has announced (https://www.krafton.com/en/news/press/krafton-inc-signs-long-term-cooperation-agreement-with-solana-labs-for-blockchain-based-games-and-services/) it is entering into a partnership with the South Korean company, Naver Z to develop a metaverse. It has also announced a deal with Solana Labs to develop “blockchain and NFT games and services.” Make of that what you will!

77. You can earn as you Play with NFT gaming

The NFT scene is now heaving with games that let you earn as you play. These games such as Wulfz, Axie Infinity, My Neighbor Alice, and DeFi Kingdoms rewards players for investing time into the game with tokens and in-game items which can often be cashed out for real-world currency.

78. Designers are using NFTs to create Metaverse wearables

The metaverse may look a lot more stylish than we imagined thanks to the introduction of NFTs to fashion brands and designers. Throughout 2021 we saw the first steps for fashion to begin experimenting with NFTs with blockchain tech used to prove authenticity, as well as platforms such as Style.me (https://style.me/) to transfer fashion designs into the metaverse.

79. Kings of Leon generated over $2 million from album NFT sales

Using the blockchain technology from the company Yellow Heart (https://yh.io/), the popular rock band Kings of Leon sold their album “When You See Yourself” as an NFT. The sale generated more than $2 million in proceeds with the band donating over $500,000 to charity.

80. The Sandbox is a user-generated, NFT-powered, Metaverse

While Facebook is busy making its version of the metaverse, the crypto world has been hard at work too. The Sandbox (https://www.sandbox.game/) is one of the most exciting metaverse projects now in development which offers, play-as-you-earn incentives, the ability to easily create, script, use, and sell your own assets, as well as conduct in a little virtual real estate.

81. NFTs are Immutable

Outside of getting scammed, forgetting your wallet information, or falling victim to a phishing attack, the only way to lose your NFT is to “burn” it yourself. This is because NFTs are considered “immutable” and will always exist on the blockchain, permanently. Should you want to, you can “burn” an NFT by sending it to an inaccessible wallet address.

82. Some NFT collections allow “Breeding”

One of the ways NFT collections are introducing increasing scarcity into their projects is through breeding mechanics. These allow owners of 2 or more tokens to “burn” them and produce a third, different token. CryptoKitties introduced the idea to the NFT world and games like Axie Infinity have perfected the system.

83. You can Keep up to date with NFT drops using NFT Calendar

One of the more challenging aspects of the NFT space and its breakneck pace of change is keeping up to date with the latest project launches. Thankfully, websites such as NFT Calendar  (https://nftcalendar.io/) make keeping up on whitelisting and drops easy.

84. Lindsay Lohan auctioned a Furry NFT of herself…

Catering to the furry niche, Lindsay Lohan sold an NFT of herself in dog form (https://opensea.io/assets/0x495f947276749ce646f68ac8c248420045cb7b5e/82124735441586598538188774541853494865074182193367645011150446668205839613953), a Pomeranian to be exact. The NFT was devised by the artist Canine Cartel and was almost universally panned, especially for the furry scene who described it as a “flat D, perhaps even a D-“.

85. A Le Bron James NFT sold for $210k

Selling back in August 2021, a LeBron James NBA Top Shot highlight broke all records. Selling for $230,000 the NFT saw the Los Angeles Lakers star’s moment is now valued at $1 million.

86. Madonna now owns a Bored Ape too!

Not one to be outdone, the “Queen of Pop” Madonna is now jumping on board with NFTs too, scooping herself up a Bored Ape. In conjunction with MoonPay, a crypto custodian that facilitates NFT sales for celebrities, Madonna appears to have paid $564k for Bored Ape #4988 (https://opensea.io/assets/0xbc4ca0eda7647a8ab7c2061c2e118a18a936f13d/4988).

87. The World of Women project Celebrates Diversity

Launched back in July of 2021, the “World of Women” NFT collection took a little time to get started but is now one of the biggest projects in the space. Created by 4 friends with a similar vision, the collection aims to unite and celebrate the beautiful, diverse, empowering world of all things “woman”.

88. You can stake your NFTs and earn money

One of the lesser-known features of NFTs is that you can earn passive income from them through staking on platforms like NFTx (https://nftx.io/). The process is simple and involves “locking up” your token for a set period of time during which you will yield interest. The NFT is used to secure proof-of-stake blockchains or to provide liquidity.

Know more about NFT Staking: What Is Staking in NFTs and How Does It Work?

Advertisement

89. Bug exploits and phishing scams are the only ways to lose an NFT

With blockchain technology being impossible to hack or decipher, the only real way to lose your NFT is through human error. This involves accidentally revealing your wallet password through phishing scams or through bugs on third-party websites which unintentionally discount NFTs. While this has happened before with marketplaces like OpenSea (https://www.theverge.com/2022/1/24/22899125/opensea-bug-bored-ape-nfts-smart-contract-listings-cancellation), the problem is extremely rare and becoming rarer.

90. Rarible is a community-owned NFT marketplace

Sticking true to the spirit of decentralization, Rarible (https://rarible.com/) is the first NFT marketplace to be community-owned and run. Using the native governance token “RARI,” the marketplace allows the coin owners to vote, moderate, and curate. The platform also aims to be entirely self-governing using a Decentralized Autonomous Organization (DAO), where RARI will be used as a true governance token.

91. A plot of Decentraland LAND is worth $3.5 million

The price of virtual land is going ever-upwards and at the end of November 2021, the Fashion Street Estate sold for 618k MANA, which was the equivalent of $3.5 million for a brief period. The real-world value of the plots fluctuates with the dollar price of MANA. The estate is the virtual home to brands such as Gucci, Ralph Lauren, and Prada.

92. Yuga Labs raised $450 million to build a metaverse for BAYC

In March 2022, the creators of Bored Ape Yacht Club, Yuga Labs, successfully raised more than $450 million in funding toward building their own NFT metaverse. Now also the owners of Meebits and the iconic CryptoPunks, Yuga Labs claims they hope to create a gamified “interoperable world.”

Read Full Story: Bored Ape Yacht Club creator raises $450 million to build an NFT metaverse

93. CNFT.io is Cardano’s biggest NFT marketplace

While Cardano’s NFT scene is not as big as Ethereum’s, it’s growing every day with collectors and creators attracted by the robust scripting language, water-tight code, fast transactions, and low fees. Emerging as the clear winner so far in terms of NFT marketplaces is CNFT.io (https://cnft.io/), launching in July 2021,

94. OpenSea now supports Solana NFTs

After months of leaks suggesting NFT support was coming, OpenSea is now ready to support the Solana blockchain on its platform. With Solana famed for its high throughput and rock-bottom fees, many creators are expected to opt for the blockchain over Ethereum.

95. The most expensive Bored Ape is #2087

Despite the Bored Ape collection growing in renowned since, the most expensive NFT in the collection is still #2087, selling on September 30, 2021. The Bored Ape features a cigarette hanging from its mouth and rainbow-colored fur. The owner is IPCollector, an NFT investor with more than 250 other collectibles in their wallet.

96. The most expensive Cryptopunk is #5822

Last selling in February 2022, CryptoPunk #5822 (https://opensea.io/assets/0xb47e3cd837ddf8e4c57f05d70ab865de6e193bbb/5822) is now the most expensive token in the collection, sort of (see below). The sale raked in 8000 ETH which at the time of sale was worth $24 million. The buyer was the CEO of the blockchain company, Chain, Deepak Thapliyal (https://twitter.com/dt_chain/status/1492601061919666179?s=20&t=uNfvTEf9XEtOyQZSrD0-uA).

97. Cryptopunk #9998 sold for $532 million…sort of

While CryptoPunk #5822 is the most expensive token in the collection, you may also find #9998  (https://opensea.io/assets/0xb47e3cd837ddf8e4c57f05d70ab865de6e193bbb/9998) at the top of the marketplace’s list too. Ethereum blockchain explorers will show that the white-haired, green-eyed avatar sold for more than half a billion dollars in October 2021 but it’s a little more complicated than that. The token was sold and bought by the same person in a clever publicity stunt using multiple  “flash loans.”

98. NFTs may be a solution to ticket scalping

The primary and secondary ticket markets are highly inefficient, full of scalps and scams, and artists are missing out on resale profits. NFTs are now being put forward as a possible solution while also saving fans a pretty penny in extortionate “service fees” tacked on by ticket companies. Tokenizing the ticket experience allows proof of ownership, immutability, and the collection of royalties.

99. Axie Infinity accounted for two-thirds of all in-game transactions in 2021

While blockchain gaming is getting exponentially bigger, Axie Infinity is still dominating the space. In fact, in 2021, the NFT game accounted for two-thirds (https://nonfungible.com/) of all blockchain-game NFT transactions. The game uses Smooth Love Potion (SLP) NFTs to reward players which are often cashed out for fiat currency.

100. Magic the Gathering’s director left to make an NFT game

The chief director behind the popular card game, “Magic: The Gathering” left his post (https://www.forbes.com/sites/laurenorsini/2019/08/08/magic-the-gathering-executive-leaves-for-blockchain-based-gods-unchained/) to create an NFT game. Joining Immutable (https://www.immutable.com/), Chris Clay is now the brains behind the game Gods Unchained (https://godsunchained.com/), another card battling game that utilizes blockchain tech to establish ownership and facilitate trades.

Thank you very much for reading, if you really enjoyed reading this article, feel free to share this article with your friends and family. Till, then have a good one, keep hustling!.

Advertisement

NFT's Street aims to provide the Best content on NFTs, Cypto and the Metaverse. Follow us for the latest Trends, News and read worthy articles on the latest hype of Web 3.0!.

AFFILIATE DISCLOSURE

Our site contains links to products and services related to NFT, Art and Design Industry. When you buy or purchase products or services from those links, we may earn a small commission that helps us grow our site.

Latest News

Trending