6 NFT Projects Worth Keeping An Eye On This Summer
Non Fungible Tokens (NFTs) have been the talk of the town across financial markets, both crypto and traditional markets alike. It is now growing at a pace faster than the blockchain and cryptocurrency industry by itself. On March 16, the Google searches for NFT reportedly reached its all-time high, more than 25 times the number in March 2020.
Even Tesla’s CEO, Elon Musk, has now jumped on to the NFT gravy train. He announced that he would be selling a “song about NFTs as an NFT.” Essentially he will be selling a tweet with the song about NFTs in it. This announcement came only a few days after Twitter and Square CEO, Jack Dorsey, announced that he would be auctioning his tweet as an NFT and donate the proceeds. After the sale of the $2.9 million tweet on the NFT platform Valuables, the proceeds were donated to GiveDirectly.
According to data from CryptoSlam, the total all-time sales of NFTs on the top 15 crypto collectible platforms is more than $840 million. It is important to note that while NFTs are being looked upon as the new cryptocurrency hype in the mainstream markets, they aren’t exactly a new concept. NFTs have been around since 2015. Thus, the spike in the revenue data itself is indicative of the massive surge in interest in the NFT market from enthusiasts and investors all over the globe.
As this market quickly expands, here are six unique NFT projects that investors should keep an eye on as crypto summer heats up:
Kiwie is a well-known street artist who hails from Latvia. He is the man behind a unique NFT offering that aims to bring ownership to street art that you cannot take home. The artist and his team is working on 1,001 geotagged NFTs linked to his street art all over the world. The final street piece is scheduled to be completed and up for auction around 2025. The ownership process to get one of these bad boys is a simple process if you’re already holding ETH.
An artwork is first painted in the real world by KIWIE, and a matching digital artwork is digitally drawn. The artwork is then minted as an NFT and tagged with the actual coordinates of the physical artwork’s location. The sale works in a timed auction format. The first buyer of the NFT also receives a unique collectible digital card and thus, the holder of the NFT owns the street artwork. The first of the Fat Monsters (pictured) sold at auction on Rarible at a price of 2.6 ETH. Other pieces included in the first sale sold for an average of 2 ETH as multiple bidding wars ensued in the final 10 minutes.
Terra Virtua is an NFT marketplace that is an immersive platform across mobile, augmented reality (AR), and virtual reality (VR) devices offering social, creative, and gaming experiences enabled by the blockchain. The platform uses gamification to enable these immersive experiences. It is the only NFT marketplace that offers AR and VR experiences to its users to enhance the tangibility of its offerings. The Terra Virtua Kolect (TVK) token is the native token of the Terra Virtua marketplace. It has a supply of $220 million tokens in circulation with a maximum supply of 1.2 billion.
On March 17, Terra Virtua and Ethernity Chain teamed up in a strategic partnership to deliver the benefits of NFTs and digital collectibles to the mainstream markets. Both parties look to leverage the technology and the reach of each other’s platform. Later on March 31, the platform launched a line of Godzilla vs. Kong NFT collectibles that were created in collaboration with the giant movie production house, Warner Brothers, on the same day after the release of the movie.
The prominent cryptocurrency exchange, Crypto.com has also launched its own NFT marketplace. It is an invitation-only NFT marketplace for highly exclusive digital collectibles and their NFTs. The exchange launched the NFT platform on March 26. Currently, they have four categories of NFTs: Art, Celebrities, Sport, and Gaming.
It became the first platform to have a partnership with a Formula One Team, it has an agreement with Aston Martin Cognizant F1 Team to release its NFTs of images and videos of their team’s drivers’ first runs, the unveiling of their 2021 F1 car, etc. They have also partnered with legendary rapper Snoop Dogg to release a series of NFTs along with artists like BossLogic, K Camp, and Boy George. The fact that it landed such high-profile NFT launches within 10 days of the launch of the marketplace is evidence of the growth this platform is bound to see in the near future.
SuperFarm is a cross-chain DeFi protocol that allows users to deploy crypto and NFT farms with no code required. SuperFarm launched its NFT platform on March 31 along with its first NFT drop, the SuperFarm NFT series. The NFTs are packed with traits across the SUPERVERSE and will entitle their holders to unique privileges to unlock new experiences. Holders of these NFTs will enjoy key platform utilities such as priority whitelist access, farming multipliers, access to in-game items, and more.
SuperFarm’s native token is called SUPER. It has a market cap of over $317 million and a circulating supply of nearly 102 million coins. It can be traded on Binance, Uniswap, Gate.io, 1inch, and several other exchanges. Its price has grown more than 200%. Apart from the benefits that the NFTs give holders, the owners of tokens will also have voting rights within the network. Both NFT holders and token owners are guaranteed to have more influence within the network. NFT holders will also be eligible for airdrops by the Super platform varying based on the rarity of the NFT.
Ethernity Chain is a community-oriented NFT marketplace. It is built on the Ethereum blockchain which makes limited edition authenticated NFTs and trading cards created by legendary artists and of notable icons as well. Its unique selling proposition is that it aims to reward the creators of NFT as well as raise funds towards charitable causes.
ERN tokens are the native tokens of the Ethernity Chain marketplace. The applications of the platform allow ERN token holders to farm rare A-NFTs, Stake, Farm, and vote on amends the Ethernity Chain ecosystem. The exclusive NFTs launch on the platform is done by auction sales or farming ERNs to use rewards from buying the collectibles. 90% of the sales of the NFTs go to charitable organizations, while 5% go towards marketplace and gas fees and the remaining 5% go to Ethernity.
In a short time since the launch of Ethernity, it has already gained endorsement and engagement from famous personalities. A few of the stars endorsing the debut of the Ethernity’s NFT artwork are Winklevoss twins, Christian Vieri, Dmitri Vegas amongst others. On March 9, they announced their “Ali Collection” in partnership with Muhammad Ali Center, the museum dedicated to Ali’s life. It was the first-ever licensed NFT of historical significance. Soon after, on March 19, they announced their collaboration with legendary skateboarder, Tony Hawk to create an NFT of the legends’ tweet which showed him doing his first 540-degree “Ollie” back in 1989, 32 years ago, on the same day of the launch.
Unicly is a unique NFT protocol that allows NFTs to be fractionalized and sold as fungible tokens. It is founded by the pseudonymous personality, 0xLeia, with an objective to make NFTs accessible to all by not having high price barriers to its assets due to the fractionalizing of different sets of NFTs.
The self-funded project implements sharding that enables the splitting of large tables into smaller shards that ensure that the transactional speeds are enhanced and adds scalability to the network. It is a community governed protocol that allows users to own fractionalized parts of NFTs and see them as fungible tokens. Through their product uToken, Unicly acts as a platform that combines NFTs with Decentralised Finance (DeFi).
The protocol combines Automated Market Makers (AMMs), NFT auctions, farming, and governance to make an NFT gallery and platform. UNIC is the governance token of this protocol. The token supply of UNIC is limited to 1 million tokens, with a decreasing inflation rate each passing month. Users can farm UNIC by staking liquidity tokens along with UNIC itself to provide liquidity to its network.