It’s quite evident that pop culture has massively ventured into the NFT space. Yam Karka, founder of The World of Women collection, following the footsteps of the Bored Ape Yacht Club (BAYC) has also signed a famous Hollywood agent. On the other hand, Madonna is hinting at buying a bue chip non fungible token (NFT) – Bitcoin Trading. This is an offer many reports claim she’s very simple serious about.
These celebrity endorsements surely are influencing many individuals to venture into the NFT space. However, the community claims OGS is very bullish on historical NFTs and is not in any way moved by the hype. But, the influence of celebrities has always seemed to move the market. That can even be seen when Gary “Vee” Vaynerchuk in 2019 bought CrytptoSkulls for 100 Ether which caused the Skull’s market to surge.
The present hype around historical NFTs has now prompted the question: Is the historical relevance of NFTs responsible for their values or can the value be attributed to just the hype around it?
The hype around history lures investors
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CryptoSkulls emerged once again into the ether and promptly became relevant. This reliance can be attributed to influencers and investors running to the collection to hold a piece of history. Since its emergence, Cryptoskulls have raked in a total volume of about $41 million on OpenSea alone.
While the hype around historical NFT is high, some NFT archeologists are not keen on the whole idea behind short-term flips. Rather, they see and believe in the long-term value of holding historical NFTs.
Gary Vee, also stole the show as he explained the importance of long-term plays as regards historical NFTs. He suggested that these NFTs could be the next CryptoPunks.
Artifact-like NFT collectors have also issued several warnings against the hype surrounding historical NFTs. However, investors continue to venture into the trending historical NFTs courtesy of notable celebrities reiterating the importance of these NFTs. To up your trading game, you may visit bitalpha ai and many others on the internet.
The question remains if historical NFTs will pass the test of time. Or the NFTs will only experience a short time in the spotlight just enough for influencers to gain enough profit.
The World of Women (WoW) effect
The World of Women emerged into the mainstream with revived IP rights capturing the support and attention of celebrities. These celebrities include Eva Longoria, Gary Vee, Reese Witherspoon, and Shonda Rimes. Since then, a growing trend involving female-led projects has expanded especially when WoW collection signed the manager of BAYC and Madonna, Guy Oseary.
Presently, investors are primarily drawn to WoW thanks to its celebrity line-up and its mission. So far, WoW has witnessed its biggest sales just a few days apart. The sales transactions were worth 210 ETH and 260 ETH respectively.
The World of Women collection since its launch has given more female-led projects an avenue to showcase themselves. Projects such as Women Rise, Boss Beauties, and Lady Squad all share WoW’s spotlight and brand support. Each of the brands mentioned has witnessed an increase in both prices and the number of unique holders.
Rug Radio aims to pave the way for media in Web3
Rug Radio founder and social media expert, Farokh, is looking to establish the very first completely decentralized Web 3.0 media firm. At the launch of an NFT collection, members of Rug Radio were whitelisted for a membership pass. This pass gave its member pre-sale access to the soon-to-launched RugNFT.
According to Rug Radio, the Web 3.0 media firm will be the first of its kind. However, a similar project known as BanklessDAO was launched in May of 2021. The company functions as a media and culture DAO for digital coins.
As of now, the logistics concerning Rug Radio’s overall operation are unclear. But, the idea behind the project has captured the interest of holders, collectors, and investors. This indicates that Rug Radio is a project with very strong support.
Could the “Queen of Pop” be the next to come “a bored?”
What do Guy Oseary, Madonna, and Gary Vee have in common? That would be a common interest in the Bored Ape Yacht Club.
Not quite long, Lindsey Byrnes, a member of the Bored Ape Yacht Club made a tweet at Madonna concerning her Bored Ape. The Bored Ape brought back the good old days as it depicted Madonna’s album cover for “Justify my love”.
Just two weeks after Byrnes tweeted at Madonna, the icon applauded Byrnes’ taste and let the cat out of the bag saying Ape well chosen. She further asked now what? hinting at a likely sale. This action from Madonna drove up the collection’s value by more than 8% within 24 hours after the tweet. Now imagine the influence Madonna will have on the collection if she rocked an ape!
Beanie was revealed and then canceled
What’s a week in crypto Twitter without some controversy? Just last week, NFT Ethics via its Twitter account made some accusations against Beanie, a popular NFT trader and Web3 Investor.
NFT Ethics sparked general awareness of the supposed unethical business practices conducted by Beanie. NFT Ethics made an investigation into Beanie’s past and dug into several projects Beanie claimed to have invested in.
After the investigation, several damaging details were found such as lies about various investments and his involvement with some scam projects. Once the details were out, many took to Twitter canceling Beanie and projects he actively supported.
