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NFTs Shown to Increase in the Month of December 2021
Summary: According to The Block Research, the amount of NFTs (non-fungible tokens) has been markedly going down throughout the months of August and November 2021. The month of December, however, has proven to be much different in this regard. This increase in sales amount could be because of a higher degree of interest in the Bored ...
According to The Block Research, the amount of NFTs (non-fungible tokens) has been markedly going down throughout the months of August and November 2021. The month of December, however, has proven to be much different in this regard.
This increase in sales amount could be because of a higher degree of interest in the Bored Ape Yacht Club (BAYC) or gaming-centered NFTs throughout the month of December. The Bored Ape Yacht Club, one of the most prominent groups in the NFT market, came out this past April, and is constructed of around 10,000 Bored Apes with various attire and other features. They serve as avatars or tickets to an online social club. The most inexpensive one can be purchased for about 52 ether, or $210,000. But they are typically on the market for far higher prices.
The United Kingdom, in the month of November, came out with a service (MoonPay) that would permit celebrities to buy costly NFTs like the Bored Ape Yacht Club. Purchase of Ape while utilizing MoonPay had all been conducted by December 2, 2021 by celebrities like Post Malone, Jimmy Fallon, Diplo, and DJ Khaled.
On November 12, celebrity Jimmy Fallon tweeted a photo of Bored Ape #599 while writing beneath it, “Permission to come a bored?” Fallon had previously described, the day before, that he had decided to utilize MoonPay’s services when interviewing with digital artist Beeple.
Since Bored Ape Yacht Club has been on the rise, gaming-focused NFTs have also become increasingly important throughout the month of December. Sources such as The Block have reported that this is the case, particularly from individuals such as game streaming platform Twitch co-founder, Justin Kan, who has revealed the significance of gaming-focused NFTs.
“NFT's are like the new Kickstarter. A lot of gaming companies are saying, ‘Hey, this is a great way to engage our audience and reward people who are early,” Kan informed The Block. “We have an audience of highly engaged gamers who want to play games and discover new NFTs for games, then we could be the place that makes sense to mint.”
Tags: Cryptocurrency,Ethereum,The Block Research
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