Through the NFT projects, many viral memes have been sold, with the Nyan Cat sold for $550,000 and the Bad Luck Brian sold for $36,000.
The most talked-about collaboration in the Non-Fungible Tokens (NFTs) industry recently is between Rapper Snoop Dogg and the artist behind the 2011 Nyan Cat meme Chris Torres. Their partnership produced an NFT product dubbed “Nyan Dogg” in the OpenSea Market and has obtained a 14.2 Ethereum equivalent to about $33,000 of a 1 on 1 auction.
This project is arguably the most high-profile celebrity project in the crypto art industry, and it also ensures that one collection boasts of three one-on-one NFTs namely: Nyan blunt, Hazy Nyan Cat, and Nyan Dogg.
The Hazy Nyan Cat and the Nyan Blunt according to reports are up for sale for 0.42 ETH. So far, 90 ETH ($208,000) has been raised. It is worth noting that the meme-based NFTs have been enjoying a good ride in the recent trend after the Overlay Attached Girlfriend Meme raised as high as $411,000. Nyan Dogg NFT is following the same trend.
The NFT industry provides opportunities for creators to make cryptographically Secure Collectibles from their generated digital contents.
The NFT has helped creators obtain an insane amount from their works with the famous Beeple raising $69 million from his artwork. Some critics have also condemned the fact that a piece of work can sell that much. It was reported that BeetsDAO, a decentralized autonomous organization made it possible for Dogg and Torres to meet for the collaboration.
It was also reported that investors have bought diverse musical NFTs after pooling their funds together. Two members had a strong connection with Chris Torres and the manager of Snoop Dogg making the collaboration possible.
Through the NFT projects, many viral memes have been sold, with the Nyan Cat sold for $550,000 and the Bad Luck Brian sold for $36,000.
It is important to note that the NFT has found popularity among celebrities forcing them to flock into the cryptocurrency space. Somewhere in March 2021, it took just a week for the NFT asset sales to rise by 27,850 which settled to a price of $42 million. It was reported that the average price was $1520. The band King of Leon recently released an album called “When you see yourself”. They collaborated with Yellow Heart and Statistics Show, both blockchain companies to raise over $2 million from their NFTs.
Lil Pump, a multi-platinum recording artist has also come up with his NFT through the Sweet Platform. The released NFT asset was a replica of one of the pieces of his expensive jewel collection.
The future of the NFT industry is yet unknown, but looking at the attention it has received in the past couple of months, the future looks bright.
Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.
