CRYPTO-CURRENCIES NFTs, revolution or simple fashion? 5 projects to discover
In the world of cryptocurrencies, it’s impossible to miss NFTs in 2021. We show you (or rediscover) a small selection of projects and platforms that matter in the ecosystem.
In 2021, non-fungible tokens are all the rage. Powered at the end of 2017 by the CryptoKitties phenomenon, NFTs are THE big crypto trend of the year. Behind this term hides a relatively abstract concept, but simple to understand. Stored in a BlockChain, each NFT is unique, identifiable and identified. It can take anything from a soccer card, an NBA action, a gif, or … a simple tweet.
A little dive into this wonderful world of NFTs, with a (non-exhaustive) selection of five interesting and very different projects. Be careful, know that by buying NFTs, you necessarily take risks, especially on their discount. Each investment must therefore be carefully considered.
# 1 Sorare: when football meets crypto NFTs
For several months, Sorare has experienced exponential growth. This French startup has created a game that allows soccer players to use NFTs to win ETH (Ethereum) and / or cards. With a very well-oiled game mechanics and partnerships with 128 clubs today, success is guaranteed. Recently, Sorare announced a fundraising of 40 million euros from funds and professional players like Antoine Griezmann.
On Sorare, you have to start by acquiring cards from real players. Each player is entitled to 111 cards per season (100 rare, 10 super rare, and one unique), and the degree of rarity will determine your performance when you use them. To purchase a card on Sorare, you can go through auctions (players issued by the platform), or the secondary market, where other coaches resell their nuggets.
About twice a week, you can participate in a championship day by selecting 5 of your cards. A score is then assigned to your player based on their performance in real life (between 0 and 100), and a multiplier based on the rarity and experience of the card. If you want to know more about Sorare, you can find our full review here.
The platform is growing every day, and in March, more than $ 14 million * were traded on the platform. A real French success in the world of cryptocurrencies.
# 2 NBA Top Shot NFTs: the current leader
Not yet accessible in France, NBA Top Shot is the biggest current success in the NFT world. Based on Blockchain Flow, Top Shot was born out of a partnership between Dapper Labs and the NBA. For now, the platform is primarily aimed at collectors, who can buy shares of their favorite players.
As on Sorare, a marketplace is available to resell the “moments”, these match actions in NFT. The basic mechanism of Top Shot is also different, the platform regularly offering flash sales of packs, containing more or less players. They are very difficult to access today, as the players are numerous and the packs rare. If you are drawn for a “drop” you will be able to open a pack, and discover a series of “moments”.
You are then free to keep them, sell them, or participate in challenges, which entitle you to special “moments”, if you meet the conditions. Top Shot wants to go further by offering a mobile game, but for now the biggest challenge is to stabilize the platform and manage the influx of new players. For the French players, it will be necessary to be patient, Top Shot not being available yet. You can read our full NBA Top Shot test to learn more.
In March, more than $ 202 million * was traded on Top Shot.
# 3 CryptoPunks: Luxury Pixel Art
Based on the Ethereum Blockchain, CryptoPunks is one of the very first projects launched. Punks are 10,000 unique pixelated characters. When they launched, each was available for free, and their scarcity has seen their price skyrocket over time. To buy and resell punks, you can go through platforms like OpenSea.
The rarity of a punk depends on its characteristics, such as its type, accessories or colors. While most are representations of men or women, there are less than 10 punks in alien form, so their value is greater, as well as rarer. Their number of accessories also makes it possible to enhance each of the punks.
# 4 CryptoKitties: the dean
As with CryptoPunks, each digital chat (CryptoKittie) is differentiated by attributes. They are at the heart of a game whose goal is to collect as much as possible. Considered Tamagotchi 2.0, they can also be bred and reproduce. In 2018, the platform experienced unexpected success, exploding transaction fees and saturating the Ethereum Blockchain. From the first generation limited to 50,000 Kitties (Gen 0), the game has grown and several generations have arrived. Buying / reselling is also at the heart of the system.
The CryptoKitties were created by Dapper Labs, which is none other than the creator of … Top Shot. This project, criticized for its limited usefulness, was therefore the genesis of another with undeniable success. Above all, CryptoKitties allowed Dapper Labs to learn from its mistakes and led to the creation of FLOW, the in-house Blockchain dedicated to the exchange of NFTs.
In March, more than $ 2.6 million * were traded around CryptoKitties.
# 5 Rare, OpenSea … the platforms
Difficult to complete a selection of NFT projects without mentioning the buy / resale platforms. Rarible, OpenSea, SuperRare, there are a large number of marketplaces for NFT.
These are prime places for artists, who can post their works online. One of the real strengths of NFT is that the creator can choose to receive a percentage for each resale. A good way to pay them a long time for their work. As an NFT belongs to its owner, you have the right to resell your Sorare cards or a CryptoKittie on OpenSea, but also your own creations.
Some have already made fortunes, such as artist Beeple, who has been creating one digital work a day for 14 years. The latter has just made an auction at Christies, a traditional auction house. At the end of an intense auction session, his work, covering all of his works created since 2007, Everydays: the First 5000 Days, sold for $ 69 million.
Although the NFT ecosystem is full of wacky projects, and the technology is criticized for various reasons, it is interesting to follow the uses created by this technology in the years to come. Which NFT projects do you find interesting? Are they really useful? Do not hesitate to give your opinion in the comments.