Apart from what we discussed on Metaverse and NFTs, in this blog we will touch on various happenings and movements in this space. These aspects further solidify the warp speed growth of blockchain based NFTs and its intelligent applications.
If you are into NFT or blockchain (gaming or collection) you have to watch the space with a big set of hollow lenses that look at the navigation of the landscape. This space is getting broader and broader by the day. Just go back 6 months and you would realize that NFT space was all about some cute JPGs. Today we have evolved well beyond that and moving on to next layer.
Infinity8 and Celebrities into NFTS
We all know about Axie, Sandbox, Upland and Nvidia, but lets start off with fairly less familiar brand. If you look at what infinity8 is doing, its partnering with celebrities to market themselves. Nicki Minaj tells the public to follow Happy Hippos NFT and inifity8.io. Seems like they are planning on involving influencers, celebrities, personalities etc to promote their apps. This is the kind of thing that is going to excel these projects and move them to next level. This will also bring a level of awareness that a lot of people have not plugged into yet. With this, I believe they have knocked it out of park.
Infinity8 not only have got crypto angels and happy hippos but also whole layer of creators as well which I think is the right direction to move into. NFT creators are going to be key here, just like movie makers, directors, writers. Those kind of creators have a unique and uncanny ability to understand how to make stuff that works in pop culture and therefore have the chance to jump in on NFTs and Metaverse (especially the blockchain based gaming aspect).
KryptoMon’s Egg sale and LEGENDARY SALE OF CRYPTODRAGON’S NFTS
Krptomon’s 24-Hour egg sale sells out in 1 second. The sale consisted of 2000 hatchable NFT eggs. This depicts that things are brewing in a very big way for the overall marketspace.
CryptoDragon’s legendary egg sold for 35 ETH. Latest update from website is that in stage 2, legendary egg was sold for a whopping 50 ETH! This is another thing that kind of shows the capacity of the top end of the market. This is highest NFT that went out in gaming world. That kind of pent-up demand is just the beginning of the market in terms of what this eco system is going to look like. Imagine where this might be in a year or in 5 years especially when you go into true metaverse application and use cases for NFTs. It is getting broader and bigger everyday thanks to massive movements in metaverse and NFTs. This is evident by looking at CryptoDragons’ website; in which people who are starting to cover the space are not typical slouchy news organizations.
OpenSea’s Exponential Growth
The other thing that is happening is when you look at the overall space. Just look at what’s happened here on OpenSea. Mason Nystorm from Messari did an analysis in August 2021 on this and impressively he tweeted about OpenSea “facilitated $1 billion in volume in 2021 alone” and look at the past numbers; 2018 – $473,000, $8 million by 2019, $24 million. One year later and exponential growth from $24 million to $1.02 billion in August 2021. And now OpenSea surpassed the $10Billion sales volume milestone. This is 3 months after passing the $1Billion mark! So you think about that kind of growth and whats happening with OpenSea.
Keep in mind that this is just one of the platforms and many others starting to develop and many of which are not even in the majors like Rarible and SuperRare. Some of them are new platforms that you might not have even heard of. Maybe you haven’t look at Immutable X as well. But they are definitely worth exploring. There’s a lot of opportunity here but with OpenSea jumping to that kind of number is insane!
Concluding Thoughts
Though the trend doesn’t seem to be concluding soon, but the blog will for now! While I was writing this blog, I just came to know that Niantic has raised $300M for creating a metaverse mapping on real world. We talked about Nvidia, Sand Box and Meta last time and within a week Niantic also rightfully jumps on the trend. Other than Opensea, the marketplaces and blockchain games I discussed above are not so well known. The news companies covering them are no doubt big names but what I meant is to point towards the established names in the gaming world. Having said that, look at the sales they are making as far as numbers are concerned. Seems like me calling them “not so well known” will fizzle out as quickly as the growth of this space.
The iron is hot and It is definitely the right time to strike! Tap into the blockchain based NFT space and show what you are capable of. With the advent of Metaverse gaming and big names also jumping in, there will no shortage of funding and support in terms of platforms enabling you to be creative. All you have to do is make games that seamlessly integrate NFTs into your games and you have a winner.
If you need any help in consultancy or making a game with NFTs, Geniteam is always there to help. GenITeam Solutions, is leading full service game development agency helping clients builds games from scratch to finish. We are helping various clients build and market, blockchain games. If you are planning to develop blockchain games, please do not hesitate to reach out to experienced game designers for free consultation.
