Fintech firm Defiance has created and launched the world’s first Non-Fungible Token (NFT) exchange-traded fund (ETF) with the ticker symbol NFTZ, carrying an annual management fee of 0.65 percent.
On December 2, Defiance launched the Defiance Digital Revolution ETF, the first NFT-related ETF in history. The fund doesn’t directly invest in NFTs, it rather keeps track of the index of companies that operate or plan to operate with NFTs.
There are notable holdings in the fund so far, including Silvergate Capital, with 6.74 percent of its net capital. Others include Coinbase, Cloudflare, Piby Group, Marathon Digital, and Hut 8 Mining.
Talking about the fund, Defiance chief investment officer Sylvia Jablonski said it was a great opportunity for investors to gain exposure to NFT marketplaces and companies operating with digital art.
The NFT revolution will fundamentally change the economic model for artists, athletes, creators, and many more industries that we can’t even conceive of today. In October, all-time NFT trading volume surpassed US$15 billion. This a great way for investors to gain access to not only the fast-growth blockchain technology aspect of the digital world, but companies involved in the renaissance of NFTs.
The NFT market is booming, with several projects coming into play in markets such as OpenSea. NFTs have gained so much attention in the media that last month Collins Dictionary named NFT its word of the year, ahead of the likes of crypto and metaverse.
In August, CryptoPunks recorded a milestone of US $1 billion in sales, shortly after Axie Infinity hit the same mark. And in September, Crypto News Australiareported the sale of a 101-strong Bored Ape Yacht Club NFT collection for US$25 million.
Adidas is collaborating with Bored Ape creators Yuga Labs and others in the space to enter the metaverse. And in a show of good faith that has attracted its fair share of derision, the global apparel brand has bought its own Bored Ape Yacht Club non-fungible token (NFT).
Adidas is also teaming up with NFT collector Gmoney and Punks Comic, a CryptoPunks-inspired unofficial Ethereum NFT derivative project.
Adidas Pays $156k for Single BAYC NFT
According to data from OpenSea, Adidas purchased Bored Ape Yacht Club NFT #8774 in September for 46 ETH, or just over US$156,000 at the time, and will rebadge it as a metaverse character called Indigo Herz. Rabid BAYC enthusiasts have paid as much as US$1.29 million for a single NFT.
Via Twitter, Adidas also recently announced a collaboration with upcoming Ethereum-based metaverse game The Sandbox.
Twittersphere ‘Welcomes’ Adidas to the Metaverse
Speaking of Twitter, reactions to Adidas’s leap into the metaverse have been mixed, to say the least. “We can’t wait to see Adidas in the metaverse,” tweeted Meta, the social media behemoth formerly known as Facebook, which has its own designs on the metaverse.
“This is the Sandbox metaverse, not Mark’s [Zuckerberg’s] metaverse. Or any clarification @Meta on where your metaverse will be?? at the @Roblox maybe? lol,” tweeted @horsesnft.
“Hopefully Adidas decides to stay in the cool parts of the metaverse, not Zuckerville,” tweeted @Lucky5Micah. Or this, from @marmish: “Cringe. So desperate to be cool.”
Summing up the negative responses was this tweet from @NFT_invest: “Good luck bitches! This is our space!”
Asics Beats Both Adidas and Nike to the NFT Punch
Like its primary competitor Nike, which has yet to bring its CryptoKicks patent to market, Adidas has been relatively slow off the blocks in the NFT race. Japanese multinational Asics stole a march on both brands back in July with the launch of its 189-piece digital footwear collection.
Silk Road founder Ross Ulbricht, who was convicted six years ago on conspiracy charges of money laundering, computer hacking, fraud and drug trafficking, is auctioning his own non-fungible token (NFT) for charity.
In May 2015, Ulbricht was handed two life sentences plus 40 years without the possibility of parole. After two unsuccessful appeals in 2017 and 2018, he remains in a US Penitentiary in Tucson, Arizona.
“Decades of incarceration stretch out in front of me,” Ulbricht writes in his prison blog, titled My NFT:
As I face that future – my eventual old age and death in this cage – I find myself looking for meaning and purpose. Why am I here? What good can I do with the time I have left and from where I am?
Ross Ulbricht, My NFT
Aged 29 when he was arrested and with time on his hands, Ulbricht reconnected with his art, producing illustrations that told the story of what he was going through. “Then someone said, ‘You should sell your art as an NFT. The community will love it’.”
Life in a Box, graphite pencil drawing, one of 10 artworks in the Genesis Collection NFT. It depicts Ulbricht’s shared cell in New York City, before he was moved to the Federal Penitentiary in Tucson, Arizona, where he remains. Ulbricht was 32 at the time he completed this drawing.
Hence the Ross Ulbricht Genesis Collection NFT, an assembly of writings and 10 artworks with an original animation by Seattle-based audiovisual artist Levitate. The singular NFT is being auctioned on the SuperRare platform, with bids closing December 8.
Proceeds Will Support Prisoners and Families and Fund Further Legal Efforts
As well as supporting other prisoners and their families, proceeds from the NFT sale will fund a trust dedicated to efforts to free Ulbricht from a life in prison. These include new legal proceedings.
At the time of Ulbricht’s arrest in 2013, Bitcoin was the only means of exchange on the Silk Road platform. While some devotees of Bitcoin and other cryptocurrencies recognise Ulbricht’s vision as an original catalyst for blockchain adoption, just as many have greeted news of his NFT offering with derision:
I think the best response is for Bitcoiners to pool our resources together and buy as many of these NFTs as possible and then burn them and re-mint them on Counterparty.
— Superbolic Brad ✍️🔑 #FreeRoss 🕊 (@bradmillscan) December 1, 2021
Same! I can tolerate the creation of international drug and weapons markets. But NFTS is where I draw the line!
I am excited to announce DECENTRAL EYES DOGG. A collaborative 1 of 1 that @Coldie conceptualized and created in collaboration with me! This piece will evolve over time!Make Art n Make Change. The work will will be auctioned on @SuperRare and at Art Basel. https://t.co/LSalLMbF5L
The single one-of-one NFT, known as “Decentral Eyes Dogg”, is a collaboration between renowned artist Coldie and “The Doggfather”. The artwork comprises a composite portrait of the US rapper, created by collaging 10 different images of his face throughout his life.
Coldie x Snoop Dogg collaboration. Source: Superrare
According to SuperRare:
The purple area is a nod to his hiphop royalty. The halftone and grunge effect on his left eye speaks to his being an OG in the game, and the Doggystyle references are a nod to his epic first release. Snoop recorded new audio exclusively for this artwork to add that swagger and put the signature Snoop touch on top.
SuperRare
Shortly after announcing the drop, Snoop Dogg offered some insight to prospective purchasers of what went into the piece:
This work is a journey. The tech we used allows the viewer 2 travel thru the piece and experience highlights of my career with some audio narration from me.
The drop got some crypto-flush bidders excited, quickly resulting in the price skyrocketing north of half a million dollars.
After a slow start to the bidding of 4.2 ETH, things quickly escalated with ETH-based offers increasing to 85 and then 94. It settled on 169 at the time of publication, equating to approximately US$773,000. With just over two days left in the auction, it remains to be seen whether Snoop Dogg’s debut NFT is able to eclipse the elusive seven-figure mark.
Right now, the NFT markets are on fire, leaving many commentators wondering when the proverbial party will end. The consensus appears to be that the parabolic rise in NFTs over the past year is unlikely to be sustainable in the long run.
Even Gary Vee, who has his own NFT collection, believes that an NFT winter is coming and that 98 percent will go to zero. While no one can predict the future and which projects are guaranteed to succeed, brave traders who regard NFTs as worthless JPEGs now have the ability to short them.
A new project known as Cyber has crafted digital experiences for anyone who owns non-fungible tokens (NFTs). By using Cyber’s platform, digital collections can be displayed in an owner’s gallery for anyone to see.
Virtual Reality NFT Galleries
Cyber is a new avenue for artists and collectors to showcase their NFT collections in a fully immersive 3D setting of their choice. Individuals can import their NFTs using their designated crypto wallet, and by simply clicking the ‘create’ button collectors can have their NFTs permanently displayed in their chosen space.
Collectors who don’t want to use Cyber’s free default galleries can alternatively go to the OpenSea marketplace and purchase a custom 3D gallery, which they can walk through in virtual reality (VR) or on a mobile phone.
A Space to View and Buy NFTs
It’s also possible to buy artwork from someone’s gallery. On visiting a gallery you might find artworks you’d like to purchase; Cyber has enabled people to do so by visiting the OpenSea link on the artwork’s page and buying it, or placing a bid directly on the marketplace.
this is my gallery Let's go check it out There might be something you like.https://t.co/EdOazRhKhV
It’s also possible to link galleries for artists and collectors to collaborate with each other. The recent NFT boom has created multiple opportunities for artists to move into the field, with many opting to create NFT meme avatars to show that they participate in the crypto space.
We are pleased to announce that you can now listen to Arpeggi Songs in your @oncyber_io gallery!
Uncovering the top 10 art NFT projects worth looking into.
Art NFT Projects have been exploding onto the scene recently as they represent an opportunity for artists to generate “money” through their digital art creations that can be sold for cryptocurrency tokens.
These Non-fungible tokens (NFTs) are unique digital assets that are minted on the blockchain using smart contracts to prove ownership and authenticity. They can be either digital versions of physical artworks or purely digital works.
This article will provide you with a list of what we think are the Top 10 Art NFT Projects at the moment. We’ve compiled the list based on popularity, profitability and creativity to help you explore some of the amazing NFT communities available to you.
Cats on the Ethereum blockchain seem to be popular among those looking to get involved with NFTs. Cool Cats have a lot to offer in terms of personalising your unique tokens. With 9,999 randomly generated and curated cats, you’ll be on the hunt for the rarest facial expressions, colours and outfits.
Cool Cats have a current trading price of 7.6969 ETH (approximately A$46k). Beyond the price, Cool Cat holders can get involved with community raffles and giveaways, along with exclusive NFT claims. The goal is to locate the coolest cats you can find. With each feline composed of different outfits, bodies, hats and faces, these fun and colourful creations may just be worth your cash.
Check out: The Cool Cats site home page has a delightful interactive map that all digital art and NFT lovers should explore.
Developed in 2017, CryptoPunks has gone on to perform incredibly well on the Ethereum blockchain. With 10,000 little pixelated punks available for you to collect, this is one of the original art projects that fostered developments in modern crypto art. Originally, if you owned an Ethereum wallet, you could claim one for free. However, if you are seeking CryptoPunks now, you will need to purchase them through the market.
Currently, the lowest-priced punk you can get your hands on is worth 83.95 ETH (approximately A$512k). So, while these punks aren’t affordable for everyone, if you have the available crypto they may be worth the purchase.
Check out: The backgrounds of these CryptoPunks are important. Blue denotes not for sale, red is for sale, and purple has active bids taking place.
Decentraland presents the concept of using NFT art to create an alternate reality on the Ethereum blockchain. The NFT aspect allows you to buy and sell land assets on its NFT marketplace; it is then up to you what you choose to build on the land that you own. Mana is the currency used for Decentraland. Given the size of this project, this article only has enough space to scrape the surface. There is so much to explore within this project that we recommend taking time out to get to know the opportunities Decentraland can offer.
While Decentraland uses Mana, the current ETH price is 0.001193 (approximately A$7). Therefore, if this is a concept that interests you, now may be the time to consider buying in.
Check out: Decentraland is equally compatible with web browsers and VR technology; if you have the equipment, why not get properly immersed?
If you like your art projects in the public domain, with fun background stories featuring amphibious creatures, CrypToadz might be for you. There are 6,969 of these small, pixelated toad friends, all with unique colours, facial expressions and seeming personalities. Gremplin, the creator of CrypToadz, and his group of acolytes are no longer creating more Toadz, making these NFTs more expensive than others.
The floor price is 3.45 ETH, which is roughly A$20k. However, as CrypToadz has strived to waive as many copyright laws as possible to keep the Toadz part of the public domain, what you use them for is up to you.
Check out: The fun origin story is a must-read if you’d like to gain an appreciation for Gremplin and his NFTs.
VeeFriends: simple doodles with business connections
Are you a fan of meaningful intellectual property? If so, you may want to know more about VeeFriends, composed of a series of animal doodles on various colourful backgrounds. Most of these drawings are very basic line art, mainly in black; however, different line colours can be found across different friends.
Owning VeeFriends also gives you access to VeeCon, which is essentially an exclusive multi-day event focused on business, entrepreneurship, friendship, etc.
Check out: The number of extras included within VeeCon may be extremely useful for business-minded people looking to learn from each other.
Perhaps you want something that feels more like a game in a similar way to Decentraland; in which case, The Sandbox has future potential. Rather than a typical image NFT, The Sandbox allows you to purchase land that you can use in whichever way you like. The game is very Minecraft-style with a blocky terrain; there are 166,464 land assets available for purchase.
The floor price of 0.781 ETH (almost A$5k) allows you to break into the game. Once you own land, you have the option of hosting events and contests. You can also create your own games and have your say in the metaverse governance.
Check out: The art style of this metaverse is intriguing and despite sharing similarities with Minecraft, the games look quite different.
The second cat-related entry in this list is CryptoKitties. CryptoKitties are slightly different from some of the other works available as they allow you to find your unique tokens through purchasing and breeding these colourful cats. Each Kitty has a unique genome, and you can find differences in eye shape, chin shape, fur colour, etc; the possibilities are endless.
CryptoKitties aren’t always cheap, ranging from one dollar to thousands, with it being difficult to narrow down the ETH floor price. CryptoKitties is on the Ethereum blockchain and, while popular, they’re not as popular as you might think, meaning there’s plenty of time to buy in if that’s what you wish to do.
Check out: The tutorial can be played on the CryptoKitties site without signing up for anything. If you want to get a feel for these NFTs, it may be worth starting there.
Experience exclusivity with the Bored Ape Yacht Club
Bored Ape Yacht Club has a slightly edgy feel to its sought-after cartoon apes. You can find 10,000 Bored Apes in circulation on the Ethereum blockchain, each of which displays high levels of sass, and (as you’d expect) boredom. Regardless of the attitude of the apes, yacht clubs are always exclusive affairs. Art NFT Projects like BAYC give you membership and access to ‘that bathroom’ – a collaborative graffiti board.
Unfortunately (if you don’t yet own one), these apes aren’t cheap; with a floor price of 47.98 ETH – approximately A$298k – it’s a highly successful and thus valuable collection. If you do have a Bored Ape, exposing it to ‘mutant serum’ will allow you to join the Mutant Ape Yacht Club, a parallel NFT strain.
Check out: The gently animated background art for the Bored Ape Yacht Club needs to be seen to be appreciated.
If you have a great dad or are looking for one, CryptoDads may be the NFT for you. With 10,000 dads in circulation, the paternal possibilities are abundant. The dads are popular with those seeking 100 percent of the innovative and commercial rights. Not only that, but real dads are putting these out into the world – to add a little more authenticity.
The current price floor for the CryptoDads is 0.225 ETH, or slightly over A$1k. However, if you’d prefer a more feminine touch, the CryptoMums are free to mint for all NFT holders.
Check out: CryptoDad holders may be eligible for merchandise discounts – if you’re interested.
Finally, if small, pixelated bears are more your style, the Littles could be a good option for you. They may not be so appealing to those who take life seriously; however, if you fancy collecting colourful and diminutive movers and shakers, there are 10,000 “dreamers, explorers, and mischief makers” available.
Check out: The wide range of outfits, facial expressions and background colours that accompany these little teddies.
Conclusions
And there we have it, some creative NFTs projects to help put you on the path to choosing from thousands of available options to add to your digital art collections. You can also buy digital art now via online nft art auctions where you can bid using cryptocurrencies such as Ethereum. There is so much potential for the future of blockchain and art, especially as NFTs move into game development which adds utility for them.
Delivering on a promise made three months ago, iconic American beer brand Budweiser has launched its debut NFT collection … with one eye firmly on the metaverse.
A total of 1,936 collectibles (the number referencing the year Budweiser began marketing its beer in cans) will serve as access points to an as-yet-unrevealed ‘Budverse’. Sound familiar?
Priced from US$499 (core edition) to $999 (gold, limited to 36), each NFT features elements of classic photos, ads and design aspects charting the history of the brand. Tokens can be bought only via the official website with fiat currencies, credit card or bitcoin/ether via Coinbase Commerce, with a maximum purchase of US$10,000 per person per day, including fees and sales tax.
No Transaction Fees (Except a Gas Fee, That Is)
“These NFTs [minted on the Ethereum network and sold on leading NFT marketplace OpenSea] will act as your key to the Budverse and can unlock exclusive benefits, rewards and surprises,” Budweiser announced on its official Discord server. In a move ostensibly designed to shield buyers from exorbitant Ethereum transaction fees, Budweiser will itself mint the NFTs before distributing them. However, each NFT purchase attracts an additional charge to cover a gas fee of US$75. Go figure, as the Americans say.
Phallic Symbols Fly Through the Cryptosphere
Parent company Anheuser-Busch has also changed Budweiser’s Twitter name to “beer.eth”. At the same time as it purchased a Bud-themed piece from Tom Sachs’ Rocket Factory collection and used it for the brand’s official Twitter page in August, Budweiser bought its new Twitter handle from the Ethereum Name Service (ENS). An ENS name is used to point to an Ethereum wallet, in the same way a URL or domain name points to a website.
The Tom Sachs-designed Budweiser rocket ship. Source: decrypt.co
However, within hours of posting its Rocket Factory NFT, Budweiser’s wallet was bombarded with similarly penis-shaped NFTs sent by other collectors. All very adolescent, really, so it comes as a shock to be reminded that buyers of alcohol-branded collectibles must be certified as being over 18 years of age.
The plot is a “Genesis” piece of virtual land, which is a rare type in Axie Infinity, located in the centre of the game’s map and with only 220 in existence.
We believe this is the largest sum ever paid for a single plot of digital land.
Axie Infinity’s utility token ASX has been one of the top performers in the market. The game has been leading the P2E (Play-to-Earn) space by becoming the highest revenue-generating game in the market.
Last month, the game launched a staking rewards program that catapulted its token to new all-time highs of US$135. The game airdropped $60 million to early users, and in-game sales saw 50 percent gains in the following days.
Tokens such as MANA, AXS and SAND have soared in the past couple of weeks following the advent of the metaverse – virtual reality worlds where users can interact socially and economically using in-game digital assets. In a report released on November 24, Grayscale analysts valued the wider metaverse at US$1 trillion, with Facebook’s recent rebranding to Meta seen as “a catalyst”.
In announcing its annual 10-word shortlist in a November 24 blog post, Collins Dictionary has officially declared “NFT”, albeit an acronym, as its word of the year. “NFT” surpassed the likes of “crypto”, “metaverse” and “double-vaxxed” to claim the top spot.
BREAKING NEWS The Collins Word of the Year is… NFT.
Although technically an abbreviation, “NFT” is accepted shorthand for non-fungible token. Collins defines an NFT as “a unique digital certificate, registered in a blockchain, that is used to record the ownership of an asset such as an artwork or a collectible”. NFT is a noun that describes “an asset whose ownership is recorded by means of a non-fungible token”.
Collins continued to explain its view of what NFTs signify:
A chunk of digital data that records who a piece of digital work belongs to … what’s really captured the public’s imagination around NFTs is the use of this technology to sell art.
Collins Dictionary
This has truly been the year of the NFT, with the assets amassing almost incomprehensible amounts of money and enticing a wave of celebrities, influencers and Web 3.0 fanatics to engage in the space. The market surged to new heights when it reported a trading volume of US$10.67 billion in Q3 alone – a 700 percent increase over Q2 2021.
Total sales for collective and art NFTs have surpassed US$7.4 billion for Q4, while art and collectible sales respectively generated US$17.8 million and US$55.5 million in comparison.
Collins cited infamous NFT artist Beeple as a key contributor to the space and made specific reference to his landmark magnum opus, “Everyday: The First 5000 Days”. The piece was auctioned off for a staggering US$69 million in March this year.
The Collins Dictionary has declared NFT as its 2021 word of the year, along with metaverse, crypto, and double-vaxxed.
This list would have been unbelievable a few years ago.
Other noteworthy crypto projects such as CryptoPunks and Bored Ape Yacht Club have also sold for unthinkable amounts of money and the avatars have become a “flex” for celebrities on Twitter. The likes of Quentin Tarantino and Martha Stewart have joined the race to launch their own set of NFTs, along with big brands such as Nike and Vodafone.
Scepticism Over NFTs is On the Rise
Although the NFT market has boomed in recent times, many are starting to doubt whether its massive upside can be sustained. Gary Vaynerchuk, aka Gary Vee, anticipates a bear market ahead for NFTs. He posits that too much short-term greed will likely result in a market downturn and a significant pullback in NFT valuation. Nonetheless, he has stated that he remains bullish on NFTs.
Many agree with Vee and consider the market is overheated. SynFutures is now looking to address concerns over the purpose of NFTs by launching NFTures, a product that will allow users to short the future prices of NFTs.
Sports and entertainment collectibles platform Topps has announced the launch of non-fungible tokens (NFTs) based on the company’s vintage science fiction-themed trading card series, Mars Attacks. Hosted on the NFT platform Curio, the limited-edition collection heralds Mars Attacks’ introduction into the blockchain.
The Mars Attacks invasion has begun!
The sale for the @Topps 2021 Mars Attacks Classic NFT Collection is LIVE NOW on @CurioNFT!
Topps’ Mars Attacks collection recaptures all the glamour of the original set of cards launched by Topps back in 1962. The card series, created with illustrations by artists Wally Wood and Norman Saunders, follows Topps’ original science-fiction plot of a Martian invasion of Earth, depicting battle scenes between aliens and humans.
Ira Friedman, vice-president of global licensing at Topps, notes that the longevity of Mars Attacks would have been unimaginable at the time of its creation back in 1962:
It demonstrates that a classic story accompanied by extraordinary art can remain relevant while embracing advancements in technology and the new ways in which consumers experience content. Curio has been an incredible partner with its deep understanding of the entertainment industry and belief in the evolution of storytelling through NFTs.
Ira Friedman, vice-president of global licensing, Topps
Below are two examples of the NFTs available in the series:
The cards are available for purchase in different packs colour-coded as Red, Yellow and Green across a variety of rarity levels – ranging from US$49 per pack for 11 cards to US$199 for a pack of 55. Each pack will contain a random story card, with randomly assigned variants.
Exciting Developments in the World of NFTs
Meanwhile, Toys “R” Us has partnered up with NFT platform Ethernity to release the brand’s first NFT collection of beloved giraffe mascot Geoffrey. The NFTs will be available for sale on OpenSea and will feature six separate editions of “Geoffrey Through the Years”. Exciting developments are also taking place for meme avatar projects, with five new projects launching soon.
