For the Love of the Game (Market Commentary) |
Sometimes the most noteworthy thing in NFTs isn’t an NFT at all. A nugget of blockchain history was unearthed this weekend when internet sleuths uncovered the first documented financial transaction on the world’s first blockchain. In January 2010, a user named Sabunir decided to try Bitcoin, and as a test sold a digital picture for $1 USD in Bitcoin.
Was this the world’s first NFT sale? No, but it is a perfect example for the use case of NFTs; preserving the provenance and ownership history of literally anything digital (not just a
jpeg). This 500 BTC jpeg sale would be worth about $13.7m today, and had the image been tokenized as an NFT, it would go down as the most significant NFT in history. If the image is recovered in the future, it would hold no value. But if it started as an NFT, the
world would know exactly which copy was the original, and one lucky person would have generational wealth from it.
In the
past 30 days Bitcoin’s Ordinals and BRC-20s have turned the OG blockchain into the blockchain with the second-highest sales volume in the world. Bitcoin NFTs are just getting started and in the long run I expect Bitcoin to compete head to head with Ethereum’s all-time sales. It may actually exceed them too.
Mythos Chain is also doing big numbers, as people are beginning to take notice of the gaming blockchain and their impressive products. I’m a gamer and
didn’t know until recently that they have the world’s largest CS:GO skins secondary market along with new hit NFL Rivals, Blankos Block Party and more on the horizon.
At the time of this writing, 3 of the top 10 collections in 24 hours are all gaming NFTs, and the biggest game makers
like Square Enix, Ubisoft, Konomi, and Atari are only just now beginning to touch NFTs.
There’s lots going on outside of the NFT markets. NFT communities and those who build them are preparing to descend on the second annual VeeCon conference at this week, as Gary Vaynerchuck again shows the world the pinnacle of Web3. Those who believe NFTs can function as access passes, art, and collectible all in one are in for a treat when, what I call the State of the NFTs, kicks off at Lucas Oil Stadium on May 18. CryptoSlam will be there shaking hands,
and filling our brains with all of the latest happenings in NFTs. It’s going to be a special time and we’re hoping to get to meet some of you there! I’m expecting markets to be slow while many are off networking, but we also know that degens are gona degen. Keep your eyes on cryptoslam.io, the Forkast 500 NFT Index, and our ETH, Solana, Polygon, and Cardano composites to see how the market is affected when many in the space take a break from trading. In the past 7 days the Forkast 500
NFT Index reflects market being down around 2.5%. We can again attribute it to low volume and high transacting fees from crypto trading. Have a MEGA GMs, Slam Fam and we’ll see you out at VeeCon! |
Often
referred to as Gary Vee, Gary is a serial entrepreneur and is the Chairman of VaynerX and CEO of VaynerMedia. He became famous for understanding trends before most, such as when he created the world’s first online wine store before online shopping was popular. Following that he became a champion of marketing on social media before most could invision it becoming what it is today. Gary is a believer in NFTs and created one of the first NFT projects to deliver high end IRL utility and
collectibility in his VeeFriends NFTs. He’s an important figure in business, and a vocal proponent of NFTs, so get familiar with all of his many contributions to the NFT world. Happy Researching! Received this from a friend? Sign up for this twice-a-week CryptoSlam VIP newsletter. |
CryptoSlam Clubhouse Podcast Yohann chats with John Linden, CEO of Mythical Games on several items including: • Mythical Games was founded in 2018 to explore the potential of Web 3 gaming economies.
• The company launched Blankos Block Party and NFL Rivals, which are free-to-play games featuring Web 3 elements, like user generated content, and digital ownership.
• To facilitate these experiences, Mythos Foundation created Mythos chain, a permissioned EVM compatible blockchain that enables players to have ownership of assets and access wallet features instantaneously.
• In 6 months, the goal is to rival Ethereum in terms of transaction volume while keeping an average transaction price point of $18 - providing gamers with affordable access to game assets. Watch the full interview now Missed an
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