🤯 NFT FOMO

We are continuing our coverage of big names joining the NFT space; check out Issue #22 to see other big names who have joined the NFT space.

The most interesting person to look at is Logan Paul. He released two collections of NFTs with Bondly these past two weeks. On his first drop alone, he made more than $5 million, selling a little less than 3000 editions for 1 ETH each. At the price and rarity Paul sold the NFTs, it seems like another Soulja Boy cash grab. It’s amazing that he could make that much, but I think his drops hurt the buyer thinking they can make money trying to flip his NFTs. The only difference between Logan Paul and Soulja Boy is Logan Paul can actually sell his NFT for listing price and doesn’t accept bids.

Be on the lookout for more celebrities to join the space. The word is out that NFT is the future, especially because it seems like Gary Vaynerchuk and Mark Cuban keep on tweeting about the space.

Flow has been up to a lot recently with NBA Top Shot and their announcement of bringing MotoGP to the blockchain. 

NBA Top Shot keeps on exploding and seems like it will never stop. TS has generated more than $230 million in sales, but most of these sales come from the secondary market. A Lebron James TS just sold for more than $200,000. TS has made it mainstream; all I see on my Twitter feed is #NBATopShotThis with video of NBA moments people want to have. ESPN, one of the biggest sports media companies, has been covering TS like crazy. They have made multiple articles and videos trying to explain to boomers why people are buying TS.

Flow announced another huge project coming to their blockchain. Developer, Animoca Brands, will create a competitive management and collectible game called MotoGP Ignition. The first sales for this new game will be on March 26, 2021. This is another big-name company coming to Flow’s blockchain, and it is looking like more will follow.

The NFT record keeps on breaking with each passing week.

This week Beeple’s “CROSSROAD” just smashed the NFT sales record after selling for $6 million to an anonymous buyer. The previous record-holder, cryptopunk APE #6965, could only hold the record for less than a week. People are starting to use big money to buy up valuable NFTs.

Another art institute has adopted crypto as a form of payment. Artist Damien Hirst and printmaker HENI Leviathan announced that they will be accepting BTC and ETH as a form of currency for the upcoming sale of Hirst’s eight cherry blossom prints.

Some people are more skeptical about these big sales of NFTs and are expecting this bubble to pop. It is important to collect NFTs that have real value and meaning. Just be careful and try not to buy any Soulja Boy NFTs.