Category Archives: NFT

NFTs of Random Numbers

The N Project: NFTs of Random Numbers Hit $40 Million Market Cap

The N Project strips the popular Loot NFT collection to its core. And it’s selling like hotcakes

By Robert Stevens and David Feld           3 min read • September 6, 2021

In brief

  • 0, 1, 2, 3, 4.
  • 5, 6, 7, 8.
  • 9, 10, 11, 12, 13, 14.

What if you stripped away all the fantastical elements from Loot NFTs—the parts that conjure up the first light of a hero whose life depends upon their “Ghost Wand” and “Gold Ring of Fury,” and move Ethereum developers so deeply that they work around the clock to create a videogame around lists of virtual treasure?

What about if you got rid of all of that, and instead printed 8,888 character sheets containing nothing but numbers zero through fourteen in a blank serif font and told people to use them in “any way you want?”

Then you’d have an NFT collection with a market cap of 10,256 ETH (about $40 million) called The N Project. It’s the fifth-most popular NFT project just three days after launch, and the average selling price for one NFT in the collection is 1.15 ETH ($4,537).

A cynic might say that the anonymous creator of The N Project, or n for short, is cashing in on Don Hofmann’s original collection of Loot NFTs, since Loot files can sell for hundreds of thousands of dollars and plenty of offshoots, like Bloot’s self-proclaimed “worthless” virtual cock rings and its associated BGLD currency, are one of the hottest things on Ethereum right now.

An optimist might say that the creator of n, described by a Discord member to Decrypt as a “huge genius gigabrain”, is even more abstract than Loot, and thus full of infinitely more potential since a developer could wrap those numbers around any game they like.

Developers have already crafted psychedelic visualizations and bots that hunt for rare numbers (there are only six 0s), and there’s a 1,400-strong community on Discord. By comparison, Loot’s homeworld is bound to medieval mythology (although developers could redefine, say, a short sword from Loot as a paintbrush for use in another game).

Another optimist might quip that The N Project is a genius meme since a Twitter account from 2014 that appears attached to it retweets speculative drool about the NFT market and MrBeast Bitcoin giveaway announcements. The creators must be having fun.

Yet another optimist might guess that n’s success is all part of Hofmann’s well-trodden ambition as a serial entrepreneur. Hofmann’s previous projects, Vine, Byte and Peach, only grew to success when online communities developed his embryonic ideas into rich social networks.

The N Project is just another innovation—a riff on the mother project, which is composed of 8,000 different randomized lists of text detailing gear from medieval fantasy RPGs. n sits neatly alongside other innovations, including Loot Visions, which makes pictures out of Loot, Abstract Loot, which makes Loot character sheet loot like acid blotter paper, and a Loot marketplace called The Grand Exchange.

So far, Loot remains bigger than any of its derivatives or offshoots. Surprise released on August 27, Loot NFTs currently hold a floor price of 12.8 ETH (about $50,000) and a total trading volume of $226 million. But The N Project’s numbers are undeniably impressive.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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Original article posted on the Decrypt.co site, by Robert Stevens and David Feld.

Article re-posted on Markethive by Jeffrey Sloe

Fractions Doge NFT to be Sold

Fractions of the Original $4 Million Doge NFT to be Sold For Over $70 Billion

By Ruholamin Haqshanas – September 4, 2021

The NFT depicting the original Doge meme, which was sold for around $4 million in June, is slated to be fractionalized into ERC-20 Tokens. This would allow every Dogecoin advocate to own a piece of the digital art once it is auctioned off in pieces.

PleasrDAO, an art-focused multisig decentralized autonomous organization (DAO), acquired the NFT depicting the Shiba Inu “Kabosu” best known as the face of Dogecoin for 1696.9 ETH, or approximately $4 million on June 12.

Starting Wednesday, September 1, PleasrDAO offers proponents a chance to purchase a portion of the iconic NFT after a fractionalization via Fractional.Art. The fractionalization would break down the original Doge NFT into 16,969,696,969 pieces dubbed “$DOG”.

Fractional.Art is a decentralized protocol that enables NFT owners to break apart their digital arts into smaller fragments. Users can convert the pieces into ERC-20 tokens that can be easily purchased or traded across secondary marketplaces.

“Expanding the ownership of $DOG beyond the DAO and to the greater general public provides more inclusivity,” said Jamis Johnson, the chief pleasing officer at PleasrDAO. “An investment in the community wouldn’t be possible without the community itself, so we’re especially excited to give back by granting shared possession of Doge.”

According to an announcement from PleasrDAO, in the first place, 20% of the total $DOG supply would be available for purchase in the auction, with the sale being hosted on SushiSwap’s MISO platform. “An additional 25% of $DOG tokens have been allocated to $DOG community programs and continued development,” the announcement read.

$DOG holders will also be allowed to decide on what should be the valuation of the original Doge NFT prior to the second auction. “We will ensure The Doge NFT does not go up for auction until we feel $DOG has reached full meme escape velocity and is coupled with a strong, thriving community,” the blog post read.

Doge Attracts Top Athletes

Naomi Osaka, a professional tennis player, and the highest-paid female athlete says she is considering investing in crypto after the meme coin caught her attention. Osaka said she has already started learning about crypto.

“I was actually just talking with my agent about cryptocurrencies. I know that online, everything is getting bigger. I remember reading about Dogecoin … there’s going to be something new and interesting that’s going to pop up,” Osaka said.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Ruholamin Haqshanas and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe