NFTs make the headlines in the news. Many projects are associated with digital and authenticated works of art. The most popular reach millions of euros.
They are called CryptoPunk, Mutan Ape or EtherRock and today they are digital works of art that are traded for several million euros. In recent months, a wind of euphoria has been blowing on the NFT market (non fungible tokens). Wealthy entrepreneurs in the world of cryptocurrencies but also more traditional companies are fighting to seize his unique works of art.
While NFTs have long been seen as a bubble, more and more people are interested in the project. Eminem, PSG, Facebook, Damian Hirst, Budweiser or Visa have formalized projects around NFTs. These tokens guarantee the authenticity and rarity of digital productions.
France involved in NFTs
Among the most popular French projects, we can mention the platform Sorare which allows you to buy and sell digital football player cards. This digital version of the Panini cards is a huge success, the French company having managed to convince all the biggest European clubs (PSG, Real Madrid, Juventus, Bayern Munich) to participate in the project.
Other projects are being launched like the Panda Dynasty which offers a series of digital works (pandas) in the form of NFT. As always, the first to arrive will be the first to serve. A few days ago, a pre-sale already saw hundreds of these pandas leave within minutes. For the official sale, you will therefore have to set your alarm clock on Saturday evening at 11:00 p.m. to try and acquire one of the 8 888 pandas on sale (0.05 ETH per unit, or 165 euros) via the project site.
You can then resell the NFTs (be it Panda Dynasty NFTs or CryptoPunk for the richest…) on the secondary market – and in particular on the Opensea.io platform which is the benchmark for these assets. In August, more than $ 1.9 billion from NFT changed hands through the latter. These projects communicate primarily on social networks – and in particular via private groups on Discord.
— Panda Dynasty (@PandaD_NFT) September 1, 2021
The bulk of these projects rely on the Ethereum blockchain to ensure uniqueness and ownership of transactions. With the growth of the market, the price of Ether has also soared: it is with this cryptocurrency that these NFTs are settled. At present, Ether is at its all-time high – close to $ 4,000. The alternatives to this blockchain are also experiencing a strong push: Solana, Cardano or Polkadot have recorded thunderous growth for months.
Bubble or reality? We would tend to go first. Indeed, the buzz surrounding these digital assets has caused the price of all NFTs to soar. In a few days, some collectors were able to multiply their stake by 1,000. But beware, the reverse is also possible …