NFT Journal: Chapter Three
Last week was exciting in the world of NFTs so let’s review a few things that happened and a few things on the horizon this week.
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New random generated NFT projects are starting to add more utility with their NFTs now, instead of just the awesome-looking random art that people sometimes use for their Avatars. Utilities can include giveaways, games, physical merchandise, digital property, or other NFTs. Roles in Discord servers are almost standard now, and the rarity of an owned NFT can give your discord name a specific color that gives status and ranking within that group. Our flagship product NFTY Connect goes hand in hand with these emerging utilities and we look forward to providing this service to all the communities who need it!
Ducks, Whales, Beasts and Goats
The weekend of July 17 brought a flurry of activity in the NFT world. The Bored Ape Yacht Club/BAYC continues to remain in the top 5 NFT collections by volume, reports DappRadar. SupDucks, with close ties to BAYC, launched at .1 ETH minting price, also holds a top 5 position. SupDucks, by artist @frankynines, sold out in under 18 hours, and the floor price has risen to .25 ETH since then.
The Reckless Whales Release
After a minor hiccup at launch, they proceeded to sell out in less than an hour. The Reckless Whales are scheduled to launch their game UI Sunday, July 25. The first 3 games plan to include a Texas Hold’em Tournament for 100 Whale NFT owners, five card stud, previously tested on Thursday, and a back alley game. This round of prizes will be Legendary Whale NFTs with exclusive artwork Additionally, they donate 7% of all proceeds to an ocean wildlife non-profit, to be voted on by the holders.
CryptoBeast NFTs, dropping around the same time as Ducks and Whales, only dropped as one of 10 different animated and colorful eggs. Eggs will be able to begin being hatched 4 weeks after the mint date on the CryptoBeasts website, which is done through the use of a call function in the smart contract that allows the user to reveal the underlying metadata and respective image. Each Cryptobeast NFTs also includes a plot of land in the upcoming CryptoBeast metaverse, Eggland, and lower mint numbers own land closer to the capital city. They have also released a beta test version of their game prior to the NFT drop, and the floor price for unhatched eggs are rising steadily on the secondary market.
The Hall of Fame Goat Lodge
Wednesday, the Hall of Fame Goat Lodge postponed their NFT drop 6 hours, and then postponed it again for 48 hours. They wanted to make sure the developers had time to finalize the code and that the drop would go off without a hitch. When the Goat NFTs finally dropped on Friday, they still managed to sell out in just under half an hour, showing the strength of the project and community. HoF Goats also have plans for a VR Metaverse, exhibiting the continued importance of NFT utility in new projects.
Spotlight-Royal Society of Players
The Royal Society of Players/RSOP launched at 2pm pst Thursday the 22nd, and sold out in 28 minutes, at a mint price of .08 ETH. Created and founded by ZK85NFT, RSOP is loosely affiliated with New York based company Landmark Ventures, where ZK is the CEO and a partner, reports Packrip on Medium. These cards are more fine art, have more simplistic renderings than other projects, and the artist, Oban Jones is one of the most well-renowned playing cards illustrators and artists. The collection includes 52 hand drawn playing cards, plus jokers, in a variety of deck designs, backgrounds, and other embellishments that may affect rarity
This project has a plethora of utilities planned for the future, both in metaverses, and in the real world. Owners are encouraged to collect more than one NFT, and “unique benefits will be conferred to holders of more than one Players Card, and, certainly, those which may comprise a strong poker hand. For example, unique rewards will be offered to those who gather two-of-a-kind, three-of-a-kind, straights, flushes, full houses, and of course, the most coveted of all: the eponymous Royal Flush — from which our society takes its name.” Shortly after selling out, they held a drawing in their Discord channel and gave away 10, one ETH prizes, and 10, .01 eth prizes. In addition to card games, they have plans for partnerships with other metaverses, and for live musical events, with the NFTs being the ticket for admission.
They have plans for real world concerts as well, starting with an invitation to their New York City “Summer Rooftop Launch Party” tentatively scheduled for Wednesday, August 18th. They also have a bold strategy, moving forward, to give away tickets to all major sporting events on a regular basis, some including airfare and hotel accommodations, and some for specific locations and eligibility. They will also have real world merchandise available, including the normal items, plus, of course, playing cards and poker chips. A philanthropic and ambitious project, and backed by people and companies that can make it successful, this looks to be a project to keep an eye on in the future.
Most NFT projects include some sort of utility along with their digital art, and more elaborate utilities and use cases are being developed all the time. NFTY Labs is always striving to create utility for any NFT, whether it’s gated communities, exclusive merchandise access, or VIP publications such as this one. Come on over to the Lab and see what tools and apps we have to help enhance your next project or NFT related business.
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About NFTY Labs
NFTY Labs is a foundation focusing on the growth of NFT ecosystems by building open-sourced, community-based tools that will unlock inherent utility and value within NFTs. NFTY Lab’s goal is to create new applications that offer new utilities for NFTs, and we aim to do this by utilizing a core feature of all NFTs: ownership.