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  4. Not all NFTs are avatars — Here are 8 other digital projects that raised millions last week

Not all NFTs are avatars — Here are 8 other digital projects that raised millions last week

Not all NFTs are avatars — Here are 8 other digital projects that raised millions last week
(Left to right) Mirror by Demsky, Beeple’s ‘HUMAN ONE’ and Ross Ulbricht’s ‘Perspective’ from his ‘Genesis Collection’    Demsky/Beeple/Ross Ulbricht
  • Non-fungible tokens (NFTs) are more than pixelated 'generative' avatars sold at exorbitant prices for their rarity.
  • This last week saw Beeple’s artwork selling for $29 million and Silk Road founder Ross Ulbright’s ‘Perspective’ went for $6.2 million.
  • Big wig companies, like Pepsi and Sequoia, are also dipping their toe in the poll with their own NFT projects.
Non-fungible tokens (NFTs) have been selling for millions of dollars this year. However, this past one week saw an exceptional surge in the value of digital art.

The pixelated CryptoPunk #4156 sold for $10.22 million on December 10 — making it the most expensive NFT in the last week, according to CryptoSlam. Earlier today, December 13, CryptoPunk #2964 sold for $1.5 million, while Bored Ape #9452 sold for $1.4 million.

Both of these projects are ‘generated’ collections of ‘punks’ and ‘apes’ — there are only a set number of avatars within each, and their rarity or value is determined by their characteristics. For instance, there are only 10,000 CryptoPunk avatars in circulation. While they’re all similar, there are only around 250 avatars with ‘male big shades’ while there are at least a thousand ‘male’ avatars.

However, there is more to this niche section tucked away in the world of cryptocurrency. As with traditional art, NFTs can be a truly unique work by the artist. Or push the boundaries of vision, helping us see mundane things in a new light. Yet others summon the nostalgia of days bygone, remind us of an event we attended, charitably help a person who believes they are wrongly imprisoned, or simply raise money for a cause one believes in.

With usage rising continuously, here are eight innovative uses of NFT technology seen in the last seven days:

Beeple’s ‘HUMAN ONE’ — $28.9 million

Beeple’s ‘HUMAN ONE’ — $28.9 million
Human One      Beeple/Christie's

Beeple’s ‘HUMAN ONE’ sold online by the auction house Christie’s for $28.9 million, which was almost double the expected price. Claimed to be the first portrait of a human born in the metaverse, this 3D video sculpture is 7-feet high featuring dystopian imagery — a person in a space helmet striding through changing landscapes, within a 4x4-foot box.

The artist Mike Winkelmann known as Beeple online, sold ‘Everydays: The First 5000 Days’ at $69 million through the same auction house, earlier this year.

Ross Ulbricht’s ‘Perspective’ from his ‘Genesis Collection’ — $6.2 million

Ross Ulbricht’s ‘Perspective’ from his ‘Genesis Collection’ — $6.2 million
Perspective      Ross Ulbricht/SuperRare

Sold on the SuperRare auction site for $6.2 million, this art was drawn using a pencil by Ross Ulbricht in prison. It is part of a collection of ten works, including an audio narration about his days in prison by Ulbricht himself and an animated video by artist Levitate. The NFT was purchased by the FreeRossDAO organisation, which had raised double the amount ($12.4 million) from contributors.

Ross Ulbricht is a founder of the now-infamous Silk Road, which raised crypto awareness but became well-known for trading in banned substances. This purchase is part of FreeRossDAO’s attempt to have him released from prison.

Spider-Man: No Way Home NFT on WAX blockchain — At least $10,000 apiece

Spider-Man: No Way Home NFT on WAX blockchain — At least $10,000 apiece
"Our Spider-Man NFT is a key reason why No Way Home generated the second highest one day ticket sales in AMC’s entire history," tweeted AMC CEO, Adam Aron      AMC

Initially offered as a perk, to movie-goers who paid for the price of an opening day ticket in advance. Sony Pictures and AMC Theatres have said this promotional NFT can be redeemed by the first 86,000 people. Attributable to the movie or the NFT’s popularity, all of them had been claimed as of December 10. The value at which these NFTs will trade after the movie’s release remains to be seen. A ticket for a movie at an AMC theatre normally costs $14 per adult, but scalpers were seen selling these advance tickets at upto $10,000 on eBay.

The Beatles Collection by VOCR — $4000 a piece

The Beatles Collection by VOCR — $4000 a piece
The Beatles Collection      VOCR

For $4000 each, Beatles fans can own audio interviews with the four band members. This auction by the Voices of Classic Rock Archive (VOCR) lists interviews as well as a unique portrait of each of the Beatles, and is set to end today. The NFTs are set at a minimum bid price of 1.25 ETH (around $4000), with surprisingly few bids so far. The Beatles were an English rock band formed in 1960, with considerable following even among the generation that usually buys cryptocurrency and NFTs.

Pepsi ‘Mic Drop’ genesis collection

Pepsi ‘Mic Drop’ genesis collection
Pepsi's generated NFT collection      Pepsi

The Pepsi-Cola company seems to think that buyers are deterred by NFT prices but not by gas fees. Celebrating the year they were born, Pepsi has announced a giveaway of 1893 NFTs said to be designed by the VaynerNFT company. Fans have been told to get onto their waitlist and connect their wallet. The tokens are said to be generated using 50 unique attributes, possibly in an attempt to ensure they have a resale value. Their tweet claims “big things are coming” and that their NFTs will “let us live new experiences together”, which seems to hint at a metaverse presence for Pepsi.

Sequoia Capital: 2005 YouTube memo — $884,000

Sequoia Capital: 2005 YouTube memo — $884,000
Extract of Sequoia Capital's 2005 YouTube memo      Sequoia Capital

A confidential email surfacing 16 years later at an auction, is not the advice of law firms. Yet, the Sequoia Capital venture capital (VC) found it to be a way to draw attention to their other crypto investments, as well as give away money for crypto innovation. The NFT of their YouTube memo which raised about $884,000 could also be a way of showing off their investment smarts and wooing more entrepreneurs, as Sequoia was an early investor in YouTube, and the VC gained large returns when they exited.

Pantone Colour Of The Year 2022: 17-3938 Very Peri Pantone

Pantone Colour Of The Year 2022: 17-3938 Very Peri Pantone
17-3938 Very Peri Pantone      Pantone

Known for selecting a colour shade each year and assigning a character to it, Pantone this year included an NFT collection as well. Claimed to encourage creativity, this bluish-violet colour will be used in NFTs designed by the artist Polygon1993. Though not yet available, they will be sold on the Tezos blockchain.

Immersive AR Anima NFT Project: Mirror by Demsky — $200 each

Immersive AR Anima NFT Project: Mirror by Demsky — $200 each
Digital sculpture, or mirror, in Norwalk, California      Demsky

Initially priced at $200 each, the Mirror NFT project is described as a digital sculpture and gateway to the metaverse. Anima is a start-up pursuing the augmented reality (AR) metaverse dream, claiming to bring together physical and digital reality. To their marketplace, they have invited Demsky, a graffiti artist. He calls himself nostalgic for the 1980s and 1990s, balancing nostalgia with the future and radical creativity. Mirror consists of 8888 “unique, evolving” augmented reality NFTs, and a globe-trotting journey to activate digital sculptures.

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