NFTs: Artifacts of the Metaverse

In December, Nike acquired NFT studio RTFKT, and in February, the partner released a collection called MNLTH. As part of the series, mysterious branded blind boxes were airdropped to Clone X NFT holders. Clone X is an NFT series work by RTFKT and Japanese contemporary artist Taskashi Murakami. It is currently on sale at OpenSea for $12,325 (4.5 ETH).

NFTs: Artifacts of the Metaverse


“NFT” and “Metaverse” have an inseparable relationship, and there is no “NFT” without Metaverse. Therefore, the first and mid-term focus on introducing the elements that form the “Metaverse”, and the next issue is also the last issue of this series. Let’s talk about “NFT” together.


BD explained “NFT”: NFT (English full name: Non-Fungible Token, Chinese: non-fungible token) is a data unit called a blockchain digital ledger. Each token can represent a unique digital profile. The concept of NFT was formally proposed by Dieter Shirley, the founder and CTO of the world’s first blockchain game CryptoKitties (CryptoKitties) in 2017, as the only cryptocurrency token used to represent digital assets. In this game, players can have virtual cats, each cat is unique. They were originally given away for free. However, some rare and popular cats have even been fired for hundreds of thousands of dollars. That year, as BTC rose from $5,000 to $200 million in just 2 months, a CryptoKitties game quickly became popular in this massive crypto bull market.

NFTs: Artifacts of the Metaverse



  • CryptoPunk _

A collection of 10,000 unique and collectible characters, CryptoPunks is widely regarded as the beginning of today’s crypto art movement. Larva Labs released CryptoPunks on June 23, 2017, and at the time, anyone could claim a CryptoPunk for free. So far, according to Nansen data, the price of Punks has risen to between 100.5ETH (about $381,000) and 4,200ETH (about $7.58 million), with a market value of 1,262,143 ETH (about $4.5 billion), making it the largest NFT collection project.

NFTs: Artifacts of the Metaverse

Crypto Punk

  • Axie Infinity

In 2020, an NFT game called “Axie Infinity” was born, which combines Pokémon and card games into a strategy game with a cryptocurrency reward system.

NFTs: Artifacts of the Metaverse

Axie Lnfinity

  • Hashmasks

On January 27, 2021, a member of the Ethereum community with the ID name “Cryptopathic” sent a message about the auction of artworks to his friend “Crypto Cobain”, a well-known big V in the crypto industry. This work is actually a series , called Hashmasks, which includes thousands of native digital artworks.

NFTs: Artifacts of the Metaverse


Unlike CryptoPunk, HashMasks has introduced more ways to play today when NFT technology and DeFi gameplay are so developed, and open art practice is becoming more and more mature. First of all, in terms of the form of works, HashMasks has richer content and is no longer a 24*24″ pixel “punk” avatar. Secondly, HashMasks distributes part of the creation rights of the works to the collector community, and the collectors buy the works of art After that, new content can be added to the work, and this content also determines the subsequent value of the artwork to some extent. Finally, HashMasks introduced the auction of creative rights and designed the operation mechanism of the creative rights token . The second and third points are the most commendable aspects of HashMasks.

  • Major artists/platforms sell NFT…

For example Edison Chen, NIKE, GUCCI, Takashi Murakami…

During the article, Meta Street Market also revealed the latest round of NFT virtual digital sneaker sales information, this time the new high-definition virtual sneaker series: XNOR-Blossom “flowers” produce everything.

NFTs: Artifacts of the Metaverse

Meta Street Market


Looking back at the development of the NFT ecosystem, from 2017 to 2018, CryptoKitties accounted for the vast majority of NFT transactions, and NFTs were mainly games. Later, the NFT ecosystem experienced large-scale growth. According to NFT Labs statistics, from 2018 to 2020, the size of the NFT market has increased by 825%, and the number of active addresses has increased by 201% . The development trend is significant, forming the initial ecological scale.

NFTs: Artifacts of the Metaverse

In 2021, the popularity of NFT will increase exponentially

But in 2021, even excluding projects such as NBA Top Shots and Nifty Gateway, the transaction volume of the NFT market in the first quarter has exceeded 8 times that of the whole year of 2020, and the growth rate is staggering. Since the beginning of this year, following Axie Infinity, CryptoPunks has taken NFT a big step forward. The combination of NFT and traditional art finance, entertainment media, etc. has gradually developed more application scenarios, and the ecological development has continued to expand. At present, the NFT ecosystem is mainly divided into trading platforms, infrastructure, games and art collections. In the NFT market, collectibles and artworks occupy most of the positions, while NFT categories such as games, sports, and music are also slowly rising.

SummarySummary _

NFT is only a small part of the Metaverse. Understanding the Metaverse is equivalent to understanding the entire operation process of the NFT, which is why I want everyone to understand the elements of the Metaverse first.

At the end of the mid-term, I threw a question for everyone.

In ancient times, a place stopped producing food due to drought. Will the uncle of the peasant go to the temple to pray for rain? Maybe not, but does prayer really increase the chance of rain? If not, why would “people” do it?

The point I want to express is that “people” can’t fully live in real life, so they need to rely on virtual things for comfort, and capitalists have seized this unchangeable nature of human beings, from the virtual world “Metaverse” developing. And NFTs are just a part of the Metaverse. We go from watching and buying real art to watching and buying virtual art, which is really fresh and interesting. However, it is recommended to maintain a “cautious” attitude. It cannot be said that NFTs have no value, and digital albums, etc. are also virtual, but it must be the singer or songwriter, arranger, or some other reason that attracts you. Choose to buy. In fact, it is just like sneakers. Many people are not interested in sneakers, but they are really unable to extricate themselves. We can buy some sneakers that are meaningful to us and have stories, but when they are different, one cannot be touched. The thing, the other is the actual “thing”.

This concludes “NFTs: Artistic Products of the Metaverse”.

Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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