Nifty’s Marketplace opened today enabling collectors to buy or sell NFTs on the platform from two groundbreaking NFT projects: Space Jam: A New Legacy and Damien Hirst’s The Currency. Although very different in scale and style, the drops from both projects excited the community and sold out quickly.
- The two projects total 217,410 NFTs, but the efficiency of Palm NFT Studio’s leading technology means the entire number were created with around 99.9999% less energy than would have been required to create them on mainnet Ethereum.
- Nifty’s was created around the idea of building a central NFT community — and the marketplace is expected to accelerate its development as collectors who missed the opportunity or want to acquire a piece from The Currency, or those who want to collect all members of the Tune Squad interact with one another.
- Like all of Niftys.com, using the marketplace was designed to be easy and intuitive. Most questions can be addressed by the [FAQ] or [user guide]. As always, you can contact our [help desk] with any questions.
The Currency from contemporary artist Damien Hirst, and presented by HENI, explores the boundaries of art and currency — when art changes and becomes a currency, and when currency becomes art. Hirst has built a career challenging the societal expectations of culture and commerce, and his latest project is no exception.
This is a collection of 10,000 NFTs that correspond to an equal number of unique physical artworks stored in a secure vault in the UK. Starting with the creation of the physical artworks in 2016, the works are now brought to life through their launch on the blockchain. Owners of each piece will have the opportunity to keep either the digital NFT or the physical piece of art — the discarded piece will be destroyed.
- The Currency was oversubscribed in the first hour on HENI.com and went on to log applications for over 67,000 pieces. The pieces have been distributed by HENI and were priced at $2,000 each.
- A key element of Mr. Hirst’s concept for the next phase of the project is price discovery, which went out on the 29th when the pieces can be bought and sold on HENI.com and Niftys.com. Art and NFT collectors will be watching the markets with keen interest.
Space Jam: A New Legacy NFTs — the collection that introduced Nifty’s to the world — will also be available in the Marketplace. Created in partnership with Warner Bros. as a celebration of the blockbuster movie starring LeBron James and the Tune Squad, the collection brought everyone’s favorite Looney Tunes characters into the world of digital collectibles. Every Space Jam: A New Legacy NFT will be discoverable on the website with endless ways to assemble an elite team.
- The Space Jam: A New Legacy collection sold out all 91,980 NFTs in 15 hours to enthusiastic fans around the world on July 12.
- As a follow-up, starting July 22 Warner Bros awarded members of the Nifty’s community a bonus free Tune Squad NFT when they shared the Space Jam page on Twitter.
- It is believed that the Space Jam: A New Legacy Tune Squad NFT will become the most widely distributed NFT ever when it is distributed to 115,430 people in over 165 countries on July 30th.
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