Tokens and virtual lands in Metaverse rise in price

Global hype around virtual worlds provokes demand for digital assets and land in Metaverse blockchain projects. Crypto-Upvotes expert review

At the World Economic Forum (WEF) in Davos, Switzerland, the topic of Metaverse was widely discussed. A special press conference was organized during the event. The WEF initiative entitled “Defining and Building the Metaverse” was presented.

More than 120 people were involved in creating the project. At one of the panel discussions, the first two documents of the initiative were discussed. The participants broke down the issues of accessibility, management systems and the role of the consumer in the Metaverse of the future. A working prototype of the WEF’s own Metaverse – Global Collaboration Village – was also demonstrated during the forum.

As often happens, global tendencies resonate with what is happening on the crypto market. A December CoinWire survey of more than 10,000 people interested in cryptocurrencies. Showed significant interest from people in the industry in Metaverse in general. More than 60% of respondents think that technology can reshape the mechanisms of social interaction and entertainment.

Survey participants also believe that the spread of metaverse will change the scenarios of interaction with finance, business and education spheres. More than half of those who have invested in metaverse-related companies in one form or another confirmed that they also own crypto assets.

Tokens from Metaverse projects go up in price

There are at least three major metaverse. The capitalization of their internal assets is estimated at hundreds of millions of dollars: The Sandbox, Decentraland and Otherside. The growing excitement around virtual spaces provokes demand for project tokens. In the first month of this year, the domestic cryptocurrencies of the leading metacities are already showing growth of tens of percent. And creating a trend of price growth for less-capitalized assets of the Metaverse category as well.

Decentraland’s domestic currency (MANA) has doubled in just two weeks. The coin began to rise in value on January 13, when the developers announced several technical innovations in the official Twitter account of the project. And it showed itself as one of the most profitable crypto-assets for investing. Which rose in the first month of this year.

The Sandbox native token (SAND) showed an increase of more than 80% in the same period. And the internal currency of the Otherside universe (APE) has grown about one and a half times since the beginning of the year. The growth of the latter is associated with the excitement around the launch of the NFT collection. Which gives access to the new Dookey Dash game from Yuga Labs, the company behind Otherside. NFT passes were given to image holders from the Bored Ape Yacht Club and Mutant Ape Yacht Club. And their daily secondary market turnover after launch exceeded $27 million.

Some cryptoprojects do not imply the creation of metaverse as such. But aggregators categorize their coins as “Metaverse”. As a rule, these are developers of Play-to-Earn (P2E) games or other services indirectly related to virtual worlds. Whose assets, like digital land parcels, are traded on the open market in NFT form.

Demand for Virtual Lands is also growing

As for parcels of land in the metaverse. This form of investment has been quite successful in the past year. According to a report by marketplace Parcel.co. Despite the turmoil in the crypto market, the turnover of virtual real estate transactions in 2022 grew by 180%. And it exceeded $1.4 billion, up from $0.5 billion in 2021.

Leader in site sales was the Otherside project. It’s own metaverse was launched last May. The excitement around the land was provided by an extensive marketing campaign. As well as a common storyline tie Otherside with the acclaimed NFT-collections BAYC and MAYC. According to our analysts, within three months after the launch digital land sales in Otherside reached $ 900 million. And in general, last year the project took over 75% of sales.

Others leaders in sales for 2022 include The Sandbox (11%), Decentraland (5%), NFT Worlds (8%) and Somnium Space (1%). The market leaders also had the largest sales: 333.33 ETH in Otherside, 100 ETH in The Sandbox, and 81 ETH in Decentraland. Plots in several less capitalized metaverse. Which are still in development. They are also traded as an asset on NFT marketplaces. Their secondary market turnover over the past year is estimated at $60 million.

The growing adoption of VR technology and the development of virtual worlds has spurred demand for virtual land. This has sparked sales both within the cryptocommunity and from global brands. The future prospects for this market remain optimistic. That’s because the metaverse sphere is attracting more and more attention and investment. In 2023, the focus of the market will be on games in the Web 3.0 segment. As well as the digital fashion industry and various scenarios for the use of virtual land plots.

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NFT collection “Game of Thrones” sold for more than $500K

NFT collection from Warner Bros. Discover was sold on the first day of trading for more than half a million dollars. Crypto-Upvotes expert review

The NFT collection, collectively titled Game of Thrones: Build Your Realm, was based on the Game of Thrones series. It was sold out on the Nifty Marketplace within the first seven hours of the start of trading. The tokens, presented by media giant Warner Bros. Discover, went on sale the evening of Jan. 10 for $150 each.

Each NFT is a “box” with an avatar of a character from the series. And which can be used in virtual world created based on the work. Also, the NFT includes additional attributes for “boosting” heroes. After purchase, the “box” can be opened or left unopened to save, trade or sell it intact.

During presale, 3.45k NFTs became available with a limit of one token per Nifty account. Then another 1,500 NFTs went on public sale a few hours later, with a limit of two additional items per account. Fifty NFT were retained by project authors for further events, free giveaways, and other promotional purposes.

The total amount of sales of NFT from this collection from the beginning of trading was $564 thousand according to the analytical platform CryptoSlam. Only two tokens were resold more expensive than the original price: for $200 and for $176. The current minimum token price (floor price) is 0.061 ETH.

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China launches first national NFT marketplace

The government-supported platform will conduct secondary trade in NFT and digital asset copyrights. Crypto-Upvotes expert review

China will launch its first regulated NFT trading platform on January 1, 2023. This was reported by Sina News. ” China Digital Asset Trading Platform ” will be a secondary marketplace for NFT. It is jointly created by state-owned China Technology Exchange and Art Exhibitions China. And a private company, Huban Digital Copyrights Ltd.

The new trading platform will focus on a national strategy to digitize culture. It will use blockchain and NFTs as the basis for technical support for the innovative development of the cultural industry and the preservation of cultural heritage.

NFT in China are called digital collectibles. In addition to these, the platform will also trade copyrights related to digital assets. Specific types of items that will be featured on the platform have not yet been determined.

Our experts note that according to Chinese laws, NFT cannot be purchased for cryptocurrency. At the end of September 2021, the People’s Bank of China banned cryptocurrency transactions. The use of digital assets for payments equates to illegal financial activity. NFTs are sold in China on closed regulated platforms.

 

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NFT sales at Christie’s are down 96% from last year

Christie’s sold only 87 NFT in 2022 for a total of $5.9 million. Review by Crypto-Upvotes experts

NFT sales at Christie’s are down 96% this year. The auction house sold more than 100 NFTs worth more than $150 million in 2021 and only 87 items worth $5.9 million in 2022.

In 2021, the most expensive lots of Christie’s were the works of American artist Michael Winkelman, known under the nickname Beeple. NFT-painting “Every Day: the first 5 thousand days” was sold in March for $ 69.4 million. And an animated 3d-image of an astronaut called HUMAN ONE left the auction in October of the same year for $ 28.8 million.

The NFT sculpture by Turkish-born media artist and filmmaker Refik Anadol was the most expensive lot of 2022. Living Architecture: Casa Batlló, which sold in May for $1.38 million.

Despite the decline in digital art sales. Christie’s continued to be active in web3 and NFT in 2022. The company created a venture capital fund, which on July 18 made its first investment in the startup LayerZero. This campaign specializes in blockchain interoperability.

Our experts also note that in September Christie’s launched its own NFT trading platform called Christie’s 3.0. The platform is based on the Ethereum network. Also now all payments are accepted in cryptocurrency and they include post-sale transactions (payment of commission and taxes).

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Prospects of investment in NFT for the next few years

Crypto-Upvotes experts conducted their analysis and told about prospects of NFT segment

Throughout 2022, application solutions with NFT have been actively developed in a variety of projects. The audience of the technology continues to grow at a tremendous rate due to the introduction of the technology by social media. This year, some tools related to NFT were implemented by Twitter (audience of about 400 million users), Reddit (audience of about 430 million users), Onlyfans (audience of about 175 million users).Meta (Facebook and Instagram) and Youtube also announced their plans to implement NFT.

Based on these data, we can consider a long-term investment portfolio, taking into account the prospects for the development of NFT

We would suggest dividing the investment portfolio into two parts. The first would be a liquid backbone, the tokens of projects that provide infrastructure for NFT. Polygon blockchain turned out to be the most popular for application solutions. Therefore, as the audience grows, the entire ecosystem could get developed, so the demand for native blockchain tokens would grow accordingly.

Other top blockchains – Ethereum and Binance Smart Chain – may also get a comparable effect from the development of NFT.

Another interesting application of NFT is the Fragment platform from Telegram. It is likely that in the future the supply will expand and the demand for TON will increase.

We suggest forming the second part of the portfolio from specific tokens of various promising NFT tokens. In a growing market, which by all projections should occur in the second half of 2023 and all of 2024. Therefore, collections with high social capital could go up in price several times over.

When to buy ?

Today, terrific conditions for opening long-term positions for at least 1-2 years, better from 3 years or more. The ongoing scandals around centralized exchanges are constantly weighing on the value of the Binance exchange’s native token. And rumors around the potential centralization of Ethereum due to the move to PoS, with validators predominantly in the same jurisdiction, are also negatively affecting the price of ETH in the medium term.

The market as a whole continues to be in a global bearish trend, which opens up the possibility of buying any tokens at undervalued prices.

What is the right investment portfolio structure ?

  • Polygon (MATIC) — 20%
  • Toncoin (TON) — 20%
  • Ethereum (ETH) — 10%
  • Binance coin (BNB) — 5%

Another 5% can be allocated under ApeCoin (APE) acting as a native token in the company’s developed meta-universe. The company that owns the world’s most popular NFT-collections Bored Ape Yacht Club, CryptoPunks and Meebits.

The remaining 40% can be distributed among different NFT-collections.

For example, find interesting offers among applied projects from social media, like collections from Reddit or Twitter.

Risks

The first part of the investment portfolio is quite conservative by the standards of the crypto market. It lists well-established, reliable projects that have many growth and development factors other than the NFT segment. Therefore, the risks in 3/5 of the portfolio do not exceed the overall risks of the market.

However, the rest are extremely risky investments. You have to consider that NFTs have several orders of magnitude less liquidity. And predicting the value of NFTs in the future does not differ in its essence from flipping a coin for luck. But, with all that, the investment can pay off many times over, given a lucky set of circumstances. For example, one appreciated token can potentially outweigh the value of all the others that will fall. But there is absolutely no guarantee that this will happen to you, to your chosen collection, with tokens owned by you.

That’s why it’s worth investing only as much as you’re willing to lose at least half of that amount.

Disclaimer

Crypto-Upvotes experts do not give investment advice, this material is published for introductory purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.

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Hugo Boss to release NFT collection, Crypto-Upvotes review

Hugo Boss will release 1,000 animated tokens from the series “Take Your Emotions” will be presented in early November

Fashion house Hugo Boss announced a partnership with Imaginary Ones, a Web3 company. With this partnership, the first NFT-collection in the brand’s history will be released. Presentation is planned for early November.

A collection called Embrace Your Emotion or EYE will consist of 1,001 animated 3D objects. With this project, Hugo Boss encourages users to embrace their emotions with courage. And regardless of whether they are bad or good, says this project description.

Also Hugo Boss will release special 5 NFTs will be animated characters. These characters will represent joy, sadness, fear, anger and love. Another character will combine all qualities of these five characters. And he will be auctioned for charity on the occasion of World Mental Health Day (October 10).

Of the remaining 1,000 tokens, 500 will be available to buyers of exclusive merchandise t-shirts. Another 500 will be available to NFT holders from other Imaginary Ones projects and contest participants. Our experts have noticed that these contests will be held on Web-3-company social networks starting Oct. 4.

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Cristiano Ronaldo will release his NFT on Binance platform – Crypto-Upvotes

Cristiano Ronaldo will launch the first NFT collection in partnership with Binance by end of 2022

Football superstar Cristiano Ronaldo will release several NFT collections. Sportsman entered into a multiyear partnership with Binance exchange, according to a Binance blog. So a goal of this partnership would be to create digital collectibles and attract soccer fans to Web3 ecosystem. “Nothing is more important to me than the fans, so the idea of bringing unprecedented experiences and access through this platform is something that I wanted to be a part of” – says Ronaldo. “We are thrilled to provide his fans with exclusive engagement opportunities to connect with Ronaldo” – said Binance CEO “CZ”.

So the first collection, set to launch at the end of this year. Will feature NFTs with an original design developed by Binance in collaboration with Ronaldo. According to an exchange blog, through a series of NFT collections, Ronaldo will provide a unique experience for soccer fans from many countries. Binance does not disclose details about this partnership, we do not know pricing or other options for this NFT collection at this time. Cristiano Ronaldo already has experience with crypto projects. In 2019, he played for Italian Juventus Football Club, which launched token JUV, which gave fans the right to vote in a number of decisions.

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Complex promotion is necessary for an NFT project to increase brand awareness and attract new holders. Our team offers many different services to promote NFT projects. We can offer PR, Influencers, Trends Everywhere, Billboards and more. We can create a individual marketing plan for you for any advertising budget.

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