Twitter Launches NFT Collection Despite Dying Hype

Twitter Launches NFT Collection Despite Dying Hype

Twitter has joined the non-fungible token (NFT) train and has dropped an NFT collection despite the recent drop in the hype around the industry. The social media giant announced yesterday that it created 140 NFTs, which would get freely distributed to 140 users.

While these tokens are free, seven of them have gotten listed on Rarible, an Ethereum-based platform, with a “not for sale” disclaimer attached. At press time, the bidding price for the listed tokens stands at 1 mETH.

The newly created Twitter digital arts include Reply Guy (the faceless man behind the mansplaining), Vitamin T (Vitamin Twitter), Furry Twitter, twttr jggl, Rare Form, Building Characters, and First Born.

Speaking on the development, Cinneamhain Ventures partner Adam Cochran stated that it “looks like Twitter finally noticed some unique ETH value,” adding that Jack Dorsey “is slowly going to migrate to being a crypto maxi in general.”

Of recent, Dorsey has shown significant interest in the cryptocurrency industry and has touted leaving Square, his payments company, and Twitter for Bitcoin if the need be.

Twitter NFT Collection Release Could Boost NFT Interest Again

Twitter’s move to launch its free NFT collection comes when the hype surrounding the NFT debut in the crypto space weakens. However, the craze could get renewed soon, and some of the Twitter NFTs could sell for large sums, just like before.

Between the ending of 2020 and April 2021, the NFT sector pooled massive investments, with Beeple selling one of the most expensive NFTs yet at a whopping $69 million. As the frenzy intensified, several prominent figures and celebrities have jumped on the bandwagon to launch their collections or advise NFT-related projects.

The boom of the NFT sector has caused many to question the stability of the sector as some compare it with the old ICO days. That said, reports show that the NFT hype has peaked and that it surpassed that of the ICO boom in 2017 and 2018.

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Non-Fungible Tokens: A Quick Look at The Journey So Far

Non-Fungible Tokens: A Quick Look at The Journey So Far

As suggested by its name, non-fungible tokens (NFTs), unlike fungible tokens like Bitcoin or gold, cannot get traded for something of equal value. For example, timeless artwork like DaVinci’s Mona Lisa is a non-fungible entity in that it cannot get exchanged with another Mona Lisa.

Non-fungible tokens are typically blockchain-minted artworks bearing unique encryption codes, which allows for exclusive authenticity and ownership. In today’s market, an NFT can represent anything from artwork to cartoons to memes, sportscard, or a whole album. Recently, fashion designers have begun jumping on the NFT bandwagon.

To emphasize just how big the NFT industry has become, reports show that over 500,000 NFT artworks, worth over $85 million, got sold in March 2021 alone.

Just about anything and anyone can create an NFT these days. To make an NFT, all that is required is to create unique content or artwork and upload it to NFT marketplaces like Rarable, Nifty Gateway, OpenSea, or Mintable. Creating and uploading an NFT is as easy as taking a walk in the park. However, the real challenge is selling your unique idea for real value.

Beeple’s Everydays— The First 5000 Days

Most Expensive Non-Fungible Tokens Sales So Far

In February, Canadian musician Grimes became one of the largest NFT auctioneers so far. The songwriter and record producer took to social media to promote some of her art content on Nifty Gateway and ended up selling $6 million worth of artwork in about 20 minutes.

Several other artists and content creators have grossed huge revenues for NFT sales over the past few months. Listed below are some of the most expensive NFTs ever sold and their developers:

  • Beeple — (Everydays— The First 5000 Days) $69 million
  • Beeple — (Crossroads) $6.6 million
  • Kevin McCoy — (Quantum) $1.58 million
  • Edward Snowden — (Stay Free) $5.4 million
  • PAK — (Metarift) $904,000
  • Mad Dog Jones — (Replicator) $4.1 million
  • WhIsbe — (Not Forgotten, But Gone) $1 million
  • SSX3Lau — (Unnamed) $1.33 million
  • Cryptopunk — (#7804) $7.5 million
  • Jack Dorsey — (First Tweet) $2.5 million

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.