You can’t deny that the recent emergence of NFTs has been quite an event. The first NFT auction was held by Christie’s and Twitter founder Jack Dorsey is selling his first ever tweet as an NFT. And even Orgasm and NARS are now starting to sell NFTs along with their products.
Twitter founder Jack Dorsey is selling his first-ever tweet as an NFT
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A non-fungible token (NFT) was created out of the first tweet published by Twitter CEO Jack Dorsey. The NFT is a digital certificate of authenticity that records the details of the tweet on a blockchain ledger.
Earlier this year, Dorsey auctioned the digital copy of his first tweet, generating more than $280 in bids. He then donated all the proceeds to a charity.
Last week, the former Twitter CEO’s first-ever tweet was sold on an auction site run by Valuables, a platform powered by the social media network Cent. As part of the transaction, Dorsey received a receipt for the transaction.
In response to Estavi’s announcement, Dorsey tweeted a screenshot of the donation he received. He also thanked all the employees of Twitter for their work.
Buying a tweet as an NFT may not be the first choice for Twitter employees, but it may not be the last. Tesla CEO Elon Musk is yet to sell a Tweet as an NFT.
The non-fungible token is not a new idea, but its recent traction suggests that it is maturing. Some experts warn about the inherent risks.
Initially, the NFT market was uninterested in Dorsey’s tweet. Bids for the NFT were low, but they have risen to $10,000 in the past day.
But the most interesting aspect of Dorsey’s tweet is that it is being offered for sale as a non-fungible token. Non-fungible tokens are pointers to digital assets, and buyers have no control over the distribution of the asset.
OpenSea is the largest peer-to-peer NFT marketplace
OpenSea is the world’s leading NFT marketplace. It features millions of assets sorted into hundreds of categories. These include collectibles, virtual worlds, and digital art.
In February 2022, OpenSea had over 100 million visitors. As of August 2021, it had processed over $3.5 billion in Ethereum-based NFT deals.
OpenSea was founded in December 2017 by Alex Atallah and Devin Finzer. The company is a peer-to-peer platform that facilitates trading of digital art and other intangible properties.
In its initial days, OpenSea was powered by smart contracts. However, the company has since expanded its capabilities, and now supports multiple blockchains. Currently, the company supports 150 different cryptocurrencies.
Unlike most centralized marketplaces, OpenSea does not limit the types of NFTs users can create or buy. Users can also design their own NFTs, which they can then sell later.
As the market for NFTs matures, there are several new players on the market. Most of these are from major exchanges, and they are competing with OpenSea.
Compared to some of the largest competitors such as Rarible, OpenSea offers a more decentralized platform. Users can trade with each other without worrying about the integrity of their transactions. They can purchase an item with credit card or a traditional currency, or use a decentralized wallet.
Although OpenSea has a wide variety of digital goods to choose from, the majority of the items are valued at a set price. Some fixed-price products require sellers to pay for gas.
Christie’s recently announced the first-ever auction of an NFT artwork
The auction house Christie’s has recently announced the first-ever auction of an NFT artwork. This will be an entirely new venture for the auction house, which has always been known for offering the world’s most prestigious physical art.
The NFT is an electronic identifier that allows artists to create a work of digital art on the Ethereum blockchain. This enables them to receive a royalty payment from the sale of their work.
In order to identify and secure the work of art, the NFT needs to be unique. This is accomplished by encrypting the artist’s signature on the token. Using this technology, the buyer can be assured that the piece is authentic.
Currently, there are over 70,000 artworks in the crypto art market. With the recent surge in NFTs, the total value is approaching $100 million. However, prices are not a reliable indicator of future value.
For now, the Christie’s auction is online-only. It will run from February 25 through March 11. Among the artworks on offer is “Everydays: The First 5000 Days” by Mike Winkelmann.
Featuring 5,000 drawings, the artwork is a digital collage. It took Winkelmann over five years to complete the piece. He said he was proud to be working in this innovative medium and is excited to have a major company like Christie’s take interest in his work.
Christie’s is known for its expert live auctions, but it also offers a full range of services. From augmented reality and live streaming to buy-now channels, it has become an industry leader in digital innovation.
Otherdeed and Mutant Ape have seen their volume drop by around 95% and 79%
There are two NFT collections that have seen massive drops in trading volume over the past seven days. Both are created by the same developer. They are Bored Ape Yacht Club (BAYC) and Otherdeed.
BAYC is the offshoot of the Bored Ape metaverse game. The profile pictures of the apes are used as status symbols and as collectors get more apes, the more valuable the NFTs become.
The floor price of the BAYC collection has dropped by over 15%. It’s still worth $212,000, but it’s only about a week ago that the floor price was nearly triple that.
In addition to the floor price, gas fees have been rising. Depending on where you buy the ETH, you can end up paying as much as $5.25.
During the sale, there were countless individuals who lost a few ETH in failed transactions. Yuga Labs has promised to reimburse those ETH. However, it’s still unclear how many will be given to existing NFT owners.
The Otherdeed collection has also seen a major drop in trading volume. It’s currently at a floor price of 7.2 ETH. When you purchase a Otherdeed, you’ll need to have at least 305 $APE in your wallet.
Otherdeeds can only be purchased with APE and are traded within the NFT ecosystem. They’re designed to be virtual land deeds in the world of Otherside. Their holder’s will be able to participate in prototype builds and in-person events.
NARS sells NFTs with Orgasm products
NARS Cosmetics is one of the first cosmetics brands to launch beauty NFTs, or non-fungible tokens. These digital tokens are designed to enable self-expression in immersive digital environments. They are sold through Truesy, an online marketplace for NFTs. Designed by artists, these NFTs include limited-edition products and are available in a variety of prices.
Nars launched its first series of NFTs on National Orgasm Day, July 31. Three female artists were commissioned to create artworks based on the brand’s ‘Orgasm’ product line. In addition to a beauty NFT, these pieces also included limited-edition “Orgasm” products.
The NARS Orgasm Collection is themed around the brand’s iconic peach-pink shade. It was originally formulated to simulate a post-coital flush. And now, it’s being celebrated as the hero product of its own line. As part of this celebration, the brand is launching its Orgasm Experienced NFTs.
These limited-edition collectibles are offered in a variety of prices, ranging from $50 to $500. Each piece has a unique value. Purchasing an Orgasm Experienced NFT will give consumers access to a variety of NARS products, such as lipsticks and lip liners.
For National Orgasm Day, NARS is also releasing a special Orgasm blush, an Orgasm lip balm duo, and a makeup tutorial. Each piece was created by a different artist. This is a first for Nars, which partnered with three artists to create the pieces: Sara Shakeel, Azede Jean-Pierre and DJ Kraviz.
Creating your own NFT
Creating your own NFT may sound like a daunting task, but it’s not impossible. You just need the right tools and a bit of time.
The best way to market an NFT is to use a social network. Facebook ads are a great option since they target the right people. However, a digital campaign using Twitter, YouTube, or other social channels can get your NFT in front of more eyeballs.
An NFT is an innovative promotional tool that can increase conversions and boost sales. It can also help create brand awareness.
NFTs are unique in the realm of marketing. They offer a way to test the waters before releasing a product or service. Using an NFT for testing purposes can be an effective way to generate interest. Once an NFT is ready for the public, it can be listed for sale on specialized NFT marketplaces.
One of the most important components to creating an NFT is the crypto wallet. Luckily, most digital wallets are browser-based, meaning you don’t need to install anything. A wallet is a place to store all your crypto and keep your private keys secure. Choosing the best wallet is important for storing your NFTs and ensuring that your digital assets are safe.
Another great way to market your NFT is to list it on an auction site. This allows prospective buyers to bid on your NFTs for a limited period of time. Some auction sites allow you to set the price of your NFT so you can see how much it goes for.