NFT crypto art is a relatively recent innovation in the world of digital art. This process involves creating and minting digital artwork using blockchain technology.
This type of artwork is becoming increasingly popular as it’s more accessible than traditional art and doesn’t necessitate visiting a museum or gallery. Additionally, its cryptographically secure nature provides collectors and investors with peace of mind.
CryptoKitties
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CryptoKitties is a blockchain-based game that allows players to collect, breed, buy and sell digital cats. These pets vary in value and appearance; players can make money by trading them for ether (ETH), the currency used to purchase CryptoKitties on its marketplace.
CryptoKitties was launched in 2017 and quickly gained traction within the crypto community. Within weeks of launching, it became a top trending topic on social media platforms, sending prices for some kitties up into six figures.
The surge of traffic to CryptoKitties caused a six-fold spike in transactions on the Ethereum blockchain. But soon thereafter, it started slowing down as its capacity for processing became limited. According to Xiaofan Liu’s paper “CryptoKitties: Rise and Fall”, an assistant professor at City University of Hong Kong, this is likely why CryptoKitties had such an immense effect on the ecosystem.
One factor contributing to CryptoKitties’ sudden success was its resemblance to Pokemon cards, a staple in the gaming community. The Pokemon franchise is beloved for its adorable creatures which have become iconic symbols of fun and adventure.
CryptoKitties’ kittens each possess a unique 256-bit DNA sequence which enables them to develop various traits, or “cattributes.” These can vary based on generation; early-generation kittens tend to be more valuable than later ones.
This feature allowed owners to breed their NFTs, creating algorithmically generated offspring with the same unique characteristics as their parents. This gave each NFT intrinsic value within the game ecosystem and enabled it to be resold at a higher price.
In addition to breeding capabilities, the game also offered users the option of buying cats from the public marketplace. Each cat had a name, bio and price listed as well as its cattributes or unique genetic traits.
CryptoKitties has seen some notable celebrity collaborations, such as NBA star Stephen Curry’s inspired cats and Muse’s collaboration. Additionally, Momo Wang designed limited-edition CryptoKitties for Nifty Gateway digital art marketplace.
Cool Cats
Cool Cats is one of the world’s most beloved collections of NFT crypto art. Launched in July 2021, its random NFTs with adorable cat drawings have gained an enormous following and now have a market value of over $250 million – with endorsement from Mike Tyson himself!
Cool Cats was founded by four anonymous members with the mission of creating an inclusive community for those who appreciate cats and cryptocurrency. Founders Clon (the lead illustrator), Tom, ELU and Lynq utilize NFTs to facilitate fun interactions between users.
As part of their effort to build a sustainable business, the team is also adding new features to the collection. One such innovation is “gen 2,” which will enable Cool Cat holders to breed their NFTs together, creating one new NFT with traits from both parents. This unique offering to the NFT market may prove beneficial for long-term value creation for Cool Cats holders in the long run.
These NFTs can be used to purchase items at the Cool Shop, located on the project’s official website. This shop provides users with a means of buying and selling NFTs as well as an opportunity to interact with other holders of this technology.
In addition to its online store, Cool Cats also has a Discord server where members can interact and get help with queries or problems. Utilizing Discord chat is the ideal way for Cool Cats holders to connect and network.
Cool Cats has plans to release an NFT-based app and other gamified features for their project. These will enable owners to take part in community events, such as a contest where members can win either free NFTs or receive a gift box of specially curated Cool Cats NFTs.
Cool Cats has already built a successful community and now plans to grow it further. Their digital assets will be utilized across licensing and merchandising, animated content, brand partnerships, live events and publishing.
This project is the brainchild of four self-described geeks who share an enthusiasm for cryptocurrency, art and “cool stuff.” The founders are Clon, Tom, Elu and Lynq.
CryptoPunks
CryptoPunks are 24×24 pixel portraits of digital avatars inspired by the London punk scene and cyberpunk novels. Launched in 2017 by Larva Labs, a two-person team, this collection quickly gained momentum as an impetus for non-fungible token (NFT) adoption.
NFTs are virtual goods that cannot be copied or traded for another equivalent. They’re the ideal solution to tokenize anything, from collectibles and artworks to video games.
CryptoPunks are also an excellent way to foster a community around a particular digital asset, allowing people to trade or exchange their Punks for other NFTs they admire. Indeed, the value of a CryptoPunk is directly proportional to how much people desire it.
CryptoPunks have seen an incredible surge in value over the last few months due to a limited supply. Now they’re worth millions of dollars!
CryptoPunks are digital avatars that can be purchased on the Ethereum blockchain and used as profile pictures or investments. Since its inception, celebrities and venture capitalists alike have shown support for this growing collection of art.
CryptoPunks were initially free, but demand has caused prices to soar. You can now get one for as little as $30,000 in Ethereum with the most expensive punks going for $10 million.
In an interview with Business Insider, CryptoPunks creator Matt Hall revealed that he and his partner John Watkinson initially created the project as an experiment. It wasn’t until Ethereum’s ERC-721 non-fungible token standard was developed that they decided to make their NFTs public products available.
In June 2017, Ethereum wallet owners were given access to the project for free and it quickly took off. By 2021, there were more than 30,000 CryptoPunks on the market and its secondary market valued millions of dollars.
Rare Pepes
Pepe the Frog may not be getting as much attention as CryptoPunks and Bored Apes are currently, but his meme-inspired character has been an integral part of NFT culture for years. Pepe is one of the most beloved anthropomorphic characters in NFT, appearing everywhere from Twitter and Telegram to Discord servers and events.
Rare Pepes was the breakthrough moment of the nft crypto art scene in 2016, ushering it into widespread recognition. While many other projects failed to gain momentum, Rare Pepes tokens became iconic landmarks in the world of digital collectibles on the blockchain.
Rare Pepes stand apart from other Non-Fungible Tokens (NFTs), which are typically created on the Ethereum blockchain. Joe Looney developed Counterparty protocol – an offshoot of Bitcoin’s blockchain – as a platform to mint Rare Pepes. On this platform he built his first Rare Pepe Wallet: an encrypted web-based wallet that enables users to trade and destroy their tokens securely.
The Rare Pepe Wallet has become one of the world’s most popular crypto wallets, used by thousands of NFT enthusiasts worldwide. Additionally, collectors can benefit from this valuable resource as they can safely store their Rare Pepes without worry of loss due to hackers or other unforeseen issues.
Opendime provides a convenient method for users to send their Rare Pepes directly to an address generated by the decentralized exchange, opendime. This makes it simple for individuals to trade or sell their Rare Pepes with other users and guarantee they always send the correct assets.
In 2021, as “normie” NFTs began appearing on the Ethereum blockchain, investors looked back into history for “archeological finds.” They discovered an XCP asset called RAREPEPE, Series 1 (also known as the Nakamoto Card). Coined on Counterparty in 2016-18, this XCP asset stood long before today’s flood of NFT offerings.
The RAREPEPE collection has seen a recent resurgence, sparking excitement within the NFT scene. These rarest NFTs were an integral part of the original CryptoArt movement and will always serve to commemorate a pivotal moment in human history when an underground community discovered how to craft unique, irreplaceable digital assets for posterity.