Twitter, Reddit, Axie Infinity NFTs

Also, Axie Infinity has shot up tremendously in the number of sales recently.

On Wednesday, June 30, Twitter announced a collection of 140 NFTs given out to their followers. “The 140 Collection by Twitter” are Twitter-themed, all having references to the social media platform. One shows the evolution of the Twitter logo, while another references Twitter CEO Jack Dorsey’s first tweet.

To get these NFTs, Twitter would DM followers with a message saying they would receive the NFT. After handing out all of them, the secondary market exploded. Two of the “Rare Form” pieces sold for 20 ETH. The average price of the collection is 13.19 ETH, according to OpenSea.

On an unfortunate note, NFT artist, PIXELORD, was DMed by Twitter, saying he won. However, after sending his details, Twitter decided he did not meet the criteria for receiving the NFT. This raised a conversation about the terms of receiving the NFT. One questionable term was the NFTs could not be used in any “product or service that is not Twitter’s product or service, or in any manner that is objectionable, likely to cause confusion or dilute, blur, or tarnish the Brand.” If a person were to do this, they would receive a $100 fine. 

Reddit also released a collection of their own NFTs this week. The collection is called Cryptosnoos, a group of NFTs from Reddit that features its alien mascot Snoo. The three NFTs that came out are called the Original Block, Helium, and Snooprematic. These three are the first of a planned collection of Snoos that will come out on a future date.

The Cryptosnoos are planned to have different rarity levels: Legendary (unique, of a kind), Epic (extremely limited edition), and Rare (limited edition). The first three are all Legendary. Cryptosnoos will also be used as aviators on Reddit, allowing collectors to show off unique avatars. 

The Cryptosnoos were auctioned off, each going for a tremendous amount of ETH. The Original Block went for 175 ETH, Helium went for 105 ETH, and Snooprematic went for 115 ETH. These prices seem to suggest that maybe NFTs aren’t dead.

In other NFT news, Axie Infinity has exploded in sales volume and has overtaken NBA Top Shot as the most traded NFT item in the market. According to Crypto Slam, Axie Infinity is up more than 335% in sales volume over the past 30.

This growth in sales is unprecedented, and overtaking NBA Top Shot is also impressive in itself. This growth is attributed to the migration of its platform from the Ethereum Mainnet to its own sidechain, Ronin. The new sidechain allows for transactions to be made with very little gas. 

Another crazy thing to come out of the Axie Infinity market is that an Axie sold for more than $810,000.