Do non-fungible tokens (NFTs) compete well with their close cousin cryptocurrencies? Some analysts are even suggesting that NFT investing is paving its own way. Past big-ticket transactions in space, including some Beeple and CryptoPunk assets, support this theory.
However, the current year hasn’t just wreaked havoc on cryptocurrencies, NFTs are also under pressure. Let’s turn back the clock today to see how some of this year’s most popular NFT launches have fared. Could they repeat the success of Beeple and CryptoPunk? Below are three of the most popular NFT launches of 2022.
1. Top Gun: Maverick NFTs
The film, starring Tom Cruise, received critical acclaim and was a box office success. Cruise mesmerized audiences around the world as Pete “Maverick” Mitchell in this action film, which was a sequel to Top Gun (1986).
The film’s release received a boost when linked digital assets were announced. RECUR, an NFT marketplace with minting and transactional capabilities, has released a limited series of collectibles for Top Gun fans. These collectibles are digital assets featuring helmets used in Top Gun movies. The original drop was for those attending a special screening of the film on May 24, 2022.
Tickets could be exchanged for Top Gun collectibles, which could then be kept by the winner or resold on marketplaces such as OpenSea. RECUR pass holders were entitled to additional benefits.
Cut to August 2022, OpenSea has listed these NFTs on its platform. As of this writing, their minimum price is listed as 0.01 ETH tokens. Only 139 owners exist for over 23,000 assets in the collection, showing that enthusiasm for the Top Gun: Maverick NFT collection is not high.
2. Nickelodeon NFTs
Nickelodeon’s digital assets have caused a lot of buzz in the NFT world this year. RECUR supports the minting of these assets. “Nostalgic” characters from series like Rugrats are available in the collection. In addition, these collectibles can be exchanged for “Slime”. 10 such slimes can also be exchanged for so-called mashups, a combination of characters.
Nickelodeon NFTs are listed on a separate marketplace that lists the reserve price at $90 at the time of writing. The ask price is as high as $999,999.99, but recent selling shows muted movement. One asset, Husie #13, recently sold for $800 and another, Arnold Shortman #46, for $333.33. In this regard, Nickelodeon NFTs have performed better than Top Gun: Maverick NFTs.
3. Madonna NFTs
From actors like Bill Murray to athletes like Coco Gauff, many famous people entered the NFT world this year.
Pop star Madonna arguably drew the most attention when she announced the release of her NFT collection. Madonna has teamed up with artist Beeple, known for his expensive works like Everydays and HUMAN ONE, to launch NFTs on SuperRare. The collection, titled Mother of Creation, featured animated videos that also drew criticism for nudity.
According to SuperRare, the last sale price of one of the NFTs was 66.5 ETH tokens, while that of another was 72.05 ETH. This makes Madonna NFTs the most successful of the three, although Madonna’s collection has a smaller number of assets compared to the two above.
Past NFT sales
The reason it can be said that 2022 was boring despite the entry of many popular names for NFTs is the prices at which digital collectibles have historically sold. Artists like Beeple and Pak have seen their assets bought at auction for millions of dollars. Some of the assets from CryptoPunk and BAYC collections have also had similar success.
As of this writing, Bitcoin and Ethereum have lost more than half of their value since the start of this year. The latest news is Michael Saylor’s departure from the CEO role of MicroStrategy. He led the company to acquire Bitcoin, but recent financial results reflect heavy losses from those acquisitions. NFTs seem to be reeling from similar sentiments this year, despite names like Madonna and Nickelodeon.
also read: Is Bitcoin to Blame for Saylor Leaving MicroStrategy’s CEO Office?
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