NFTs, or Non-Fungible Tokens, have been taking the crypto world by storm this year, in the process helping Ethereum achieve gains that surpass Bitcoin from a percentage perspective. It is also not showing any signs of pausing, with NFTs minted in 2017 coming back with a vengeance this year, with the likes of CryptoPunks and EtherRocks fetching a minimum of $100,000 each.
While these could still be arguably pegged to a niche market, we’re seeing major brands like Marvel, Coke, Porsche and artist Picasso’s works being added to the NFT space. Are we seeing a mainstreaming of NFTs from here on out?
Will people start to take NFTs more seriously?
Coca Cola NFT fetches over $575K
Coca Cola recently launched their first ever NFT collectible set called The Friendship Box. It consists of a set of 4 separate NFTs:
- Vintage Cola Cooler
- Custom designed Coke bubble jacket wearable in Decentraland
- Sound visualizer
- A refreshed friendship card
The entire collection was auctioned off, and fetched over $575,000. The winning bidder will also receive a real life fully stocked coca cola refrigerator.
This NFT’s winning bidder can now also separately sell off the individual items as separate NFTs.
You can now own a slice of Picasso’s Fillette au béret
Sygnum has teamed up with art investment firm Artemundi, to turn Picasso’s Fillette au béret into an NFT for fractional ownership.
So now, you can own a piece of Picasso for the low, low price of $6,000 per unit. Given that the painting is currently worth $3.68M, there’s roughly 613 units available for purchase.
The art market has always been shrouded in secrecy, and valuation murky at best. But with more and more contemporary and historical art pieces being digitalized on the blockchain, we can perhaps look toward having some pieces of legit art to our name, next to our collection of penguins, kitties and rocks, of course.
Porsche drives home its first NFT, an exclusive design sketch
An exterior sketch of a Porsche done by chief designer Peter Varga, has been minted into an NFT, and sold for 30.25ETH, which by the way, is still under the price floor of EtherRocks. Go figure.
As with the Coca Cola NFT, proceeds were donated to non profits, so their forays into the NFT space has so far been more from a corporate philanthropy perspective.
Nonetheless, it is an interesting sign of the times, and perhaps the start of the maturation of NFTs beyond pixelated shit. I mean, the composition of my poop is also extremely scarce (only available till I die) and hardly duplicable, and definitely non fungible, but it’s still just shit.
