The last few weeks have had a lot of bad news for some in the “web3” space, but you won’t know it by looking at announcements in and around the recently ended NFT.NYC and ApeFest 2022 events. The annual Bored Ape Yacht Club (BAYC) event in particular brought together musicians such as The Roots, LCD Soundsystem, Haim, Lil Baby, Lil Wayne, and others to perform for its members. On the last day of the event, guests saw the premiere of this video from two of the celebrities who bought tokens, Eminem and Snoop Dogg.
The video is for a new song, From The D 2 The LBC, which is not the most memorable collaborations and is mostly about weed smoking, but constantly combines images of cartoon monkeys. Many BAYC members were disappointed in February when the two men performed at the Super Bowl halftime show, and despite appearing at an event that featured crypto ads every few minutes, they failed to highlight their efforts on the -web3.
ApeCoin’s price dropped 39 percent last month to $ 4.51 after peaking in late April at more than $ 23, while Bitcoin and Ethereum values are also around 38 percent less than they were 12 months ago. The Wall Street Journal wrote on May 3 that “NFT Sales Are Flatlining,” and the numbers haven’t improved overall since. That report quoted NFT from Snoop’s own collection, Doggy # 4292, which sold for more than $ 33k several months ago. Its owner currently lists the item for sale at a price of almost $ 11 million, and while the highest bid at the time of the article was $ 210, someone is currently offering $ 1,218. You can watch the animation or download its high resolution from its source website right here, for free.
Despite this, now BAYC owners can point to music that uses characters from the club who spent so much money to join. Also, they saw real Snoop Dogg perform, not the fake one that some web3 company cheated people with this week during NFT.NYC.
The rappers ’NFTs were both acquired through third parties in December, close to the time prices for the latest Bitcoin and Ethereum peaks. In a deal executed by digital agency Six, it cost 123.45 ETH to get Eminem’s Bored Ape # 9055. At the time, it used to cost about $ 460,000 but is now equivalent to about $ 150,000.
The monkey icon associated with Snoop Dogg, # 6723, was moved in a transfer from the wallet of the previous owner, not a sale at a price recorded on the blockchain, which was allowed by MoonPay. The company has focused on making it easy for celebrities to buy high-priced NFTs, though it also makes it difficult to track exactly how these celebrity-affiliated tokens were obtained, and who actually paid the highly publicized prices.
Opening up the ability for token owners to use the image of monkeys for their creative or commercial endeavors is part of the Bored Ape Yacht Club’s strategy, even if it’s unclear why or how this will increase -appeal for unspent people. six digits on NFT. The way they see it, this is the beginning of a new media industry, with intellectual property rights tied to digital tokens with deductible monetization for all associated.
The truth about NFTs and copyright is much more complicated than that – you can follow our explanation of the state of affairs here. But for now, the parties continue, with many things for BAYC Yuga Labs owners to sell to members who are keeping around, such as merchandise and land pledges in a yet-to-be-launched metaverse.
How do you create an NFT?
How to Make NFT |
- Choose your item.
- Choose your blockchain.
- Set up your digital wallet.
- Choose your NFT market.
- Upload your file.
- Stop the sales process.
- Making NFTs can be a profitable investment.
Can I make my own NFT and sell it? There are many online platforms that you can use to make and sell NFT. This may interest you : From retro to tech, Michigan drivers will get new license plate options. Some of the most popular NFT auction platforms include OpenSea, Rarible, SuperRare, Nifty Gateway, Foundation, VIV3, BakerySwap, Axie Marketplace and NFT ShowRoom.
How much does it cost to create an NFT project?
The cost to create an NFT ranges from $ 0.05 to over $ 150. The Ethereum blockchain is the most expensive blockchain with an average cost of $ 70, and Solana is the cheapest that costs only $ 0.01 on average to create an NFT . This does not include market fees ranging from 2.5% to 5%.
Can I create my own NFT to free?
Create free NFT using Lazy Minting. The popular Rarible crypto market offers a feature called Lazy Minting. This may interest you : Departmental Press Briefing – June 21, 2022 – United States Department of State. It allows users to run NFT without paying an upfront fee. Printing-related gas costs are transferred to the customer purchasing your NFT from Rarible.
Why are NFT so expensive?
Another reason NFTs can be so expensive is because of what economists call a bubble. Let’s say there is a bubble in a market when investors buy things with the main prospect of selling them soon after at a higher price. This may interest you : Inflation in the UK hits the new highest level in 40 years at 9.1% as food and energy prices continue. This pushes the price up. Bubbles tend to occur whenever new technology appears.
Is NFT worth buying? NFT has value because the buyer and their community believe it has value – which is true for all art and collection. And over time, NFT gains more of its own character, based on factors such as who owns it and how they used it.
How much does it cost to NFT?
On average, the cost to create a standard NFT can fall anywhere between $ 1 to $ 1,000. And it could be even more, which is different from NFT marketing. You can find popular NFT wallets that charge a fee of between $ 70 and $ 120 to open an account. There are also free options you can explore.
Why would anybody buy an NFT?
Some people invest in them because they believe they will have value in the future, and offer what they consider a safe investment option. Others invest in NFTs to ensure digital ownership of physical assets and collectibles, as well as access to exclusive advantages, as they are difficult to counterfeit or steal.
Can NFT be sold?
NFTs, spelled NFTs, or non-fungible tokens, are digital tokens stored on the blockchain. Unlike cryptocurrencies, where each currency is the same (there is no reason to prefer a particular Bitcoin over another), each NFT is unique and can be sold as a way to prove ownership on any type. of a digital file.
Can you resell the same NFT? Technically, yes, you can sell your NFT on different markets. But it is not the best idea and it will certainly ruin your reputation.
Can I buy someone an NFT?
Yes, you can absolutely gift NFT. Not only that, but giving NFTs is a great way to introduce someone to the world of NFTs.
Can I buy NFT and sell it?
Selling NFTs is not just for digital creators. Some collectors trade from their collection of NFTs. If you have previously purchased an NFT from another creator or collector in a marketplace, you can list those for sale as well.