Reality Cards
Human To Anon: The NFT Revolution
The future of Non-fungible tokens is more than just a virtual fad
It’s the year 2027. You come across the intriguing opportunity to be part of a meet and greet with the winners of the 2022 Fortnite World Cup. These were the winners of the tournament from when you were 22-years-old and the chance immediately sparks your attention — What are the terms and conditions, you say?
The answer is simple: you need to be the owner of the “Who will be the winner of the Fortnite World Cup 2022” event NFT released by Reality Cards, the world’s first NFT and prediction market platform. At the time, It was the first of its kind and the only issue ever created for one of the most anticipated events in gaming history. You checked on the current price of the NFT and it’s for sale at a price of 100 Ether on OpenSea (!)
In 2027 the price of 1 Ether is approximately 20,000 USD. Angry as you cannot afford that trade, you throw your holographic projector out the window: as a 27-year-old, you don’t have that kind of money (unless you’re a billionaire virtual Playboy, of course). Sitting back in your chair, shrugged shoulders, and a frown on your face, you contemplate on how you could have done a bit more research in the NFT space in your early 20’s so you wouldn’t have missed out on this opportunity.
NFTs are evolving and there’s no question about the potential they’ll have in both the real and virtual world. The implications of this new technology are endless and can be implemented into any industry — finance, fashion, sports, gaming, and events to name a few.
The cryptocurrency and blockchain space has only just scratched the surface of NFTs. Observers from the outside — someone would call them Maximalists — are starting to criticize the developments within the space, collectively presenting the case of a bubble. Little do they know, non-fungible tokens available in the market today are just scratching the surface.
Sure, there will be times when these newfound digital assets will dwindle within the mainstream and blockchain news outlet and the focus will switch on other aspects of this industry. Nevertheless, NFTs are here to stay and will evolve into greater things and implications yet to be explored.
NFTs are the new ‘sneaker mania’ and they are here to stay and they’re more than just a virtual fad: some buy for the sole purpose to make quick profits while others are captured by the endless opportunities that PFP, blockchain games, fashion items, virtual estate, eth offer.
Explore what the future holds for NFTs.
Build up to the NFT hype
The NFT-mania started in 2017 with the adorable Cryptokitties. A few years down the line we witness real-world and digital art pieces being sold as non-fungible assets on NFT marketplaces. Amidst the rise of marketplaces for digital collectibles, anyone is able to mint their own NFTs on the platform. Remember when Grimes sold her collection for a whopping 5.8 million USD.
Today, NFTs are the talk of the town in the crypto industry. While the majority of non-fungible tokens are minted on the Ethereum blockchain, other blockchains are propping up to challenge the status quo. A notable NFT collection outside of the Ethereum network is the Degenerate Apes built on Solana and can only be minted on the website itself.
To weird beginnings with NFTs
The cult mystery of #dotdotdots
As of recently, the NFT mania has been experiencing some ‘off-marketplace’ mintable NFTs. One collection turning eyes is the dotdotdots, strange cultish creatures that live inside solidity referred to as ‘bugs’. They had a mint price of 0.05 Ether at launch and currently, the dotdotdots floor price is at 1.05 Ether.
This collection had no website, a community-run Discord, no official Twitter and it was minted in stealth mode directly on Etherscan. The peculiar thing is that only 4,360 dotdotdots out of 10,000 were minted and there will not be further mint until Ether hits a new all-time high.
Can you crack the code?
An NFT being created and only having the option of being minted directly through smart contracts, basically means that creators and artists of Non-fungible tokens have made it possible for collectors to mint digital art directly from the smart contracts (Ethereum smart contracts) to bypass any websites or platforms the NFT is being sold or auctioned on. How does one mint digital art directly from smart contracts?: more on this in upcoming articles.
Really weird vibes from The Creature World
If you thought a pet rock was weird… You haven’t seen weird enough! A recent NFT collection of 10,000 creatures promoting peace and harmony was created by a 21-year-old artist from NYC, Danny Cole (which is still a mystery to what they really are) giving off some really peculiar vibes.
Well, at least we know one thing about The Creature World NFT:
The Creature World NFTs were released towards the end of August with an average minting price of 0.5 Ether in the first two days. On the third day significantly increased to approximately 1.5 Ether and now it is stable with a floor price of 1.03 Ether. From a volume of 800 Ether on its first day of release, the total sales volume has gone up to 11,300 Ether as we speak placing The Creatures ninth on the OpenSea Rankings. There’s a lot of talk on whether or not The Creature World NFTs will be similar to the like of CryptoPunks. The once-forgotten digital souls now arise to dominate the NFT market with billions of dollars flowing into the market.
Visualize your NFTs with Loot (for adventurers)
The floor price of an NFT created with a black background and a bunch of words in white called Loot just jumped from 6.5 Ether to 10 Ether overnight. Similar to our ‘bug’ friends from dotdotdots, Loot NFTs had to be minted directly from smart contracts. At first glance, these NFTs look like a grocery list. Technically, they are (but not for groceries). They’re a list of Stats, images, and other functionalities.
The team behind Loot are enablers of creative imagination. Rather than creating an NFT with a ‘finished’ image of a character from the list of characteristics listed in the NFT, they decided it would be a good idea to allow collectors to use their own imagination and figure out what they will be able to come up with in accordance with the NFT. If you can’t do that, try this and you can see a rendering of your Loot NFT.
Believe it or not but, Loot doesn’t end there. The Loot NFT community has created a website where there are other aspects of the Loot projects such as Loot personalities, Food supplies, and much more (just be aware that these are unaudited!). By the way, the floor price of Loot (for adventurers) is at 12 Ether now with an all-time sales volume of 42,980 Ether. It’s currently 11th!
Closing thoughts
NFTs are growing within an industry early on in their lifecycle. Artists and collectors (or traders) are building this ecosystem and showing the entire world that there is value to be sought after in these beautiful, iconic, and mysterious gems. Non-fungible tokens come in many shapes, forms, or codes able to engage with anyone who has similar shared values which in return brings up floor prices due to the original supply and demand from collectors.
The future in the NFT space looks bright and experts in this area are projecting exponential growth in the next few years. The odds of real-world assets coming onto the virtual landscape will be greater than what we have seen today, expanding its reach to industries like commodities, sports, and fashion. Tune into this space and stay for the revolution.
