The ApeAvatar charity mystery box event, co-hosted by Binance and APENFT, hit a new high price in the secondary market.
ApeAvatar hits a new high-price
On September 6, Binance and APENFT joined hands in the “ApeAvatar ” Charity Mystery box event. The 60-day event, centered on philanthropy, includes NFT celebrity avatars and surprise boxes of designer items to release greater possibilities for the NFT ecosystem. This is the second time the two have worked together, after the “Genesis” NFT auction in June.
For celebrities to claim, APENFT created well-designed cyberpunk-style NFT avatars of 50 global influential people, including David Gokhshtein (crypto investor, entrepreneur, and politician), Changpeng Zhao (founder and CEO of Binance), Elon Musk (CEO of Tesla), Helen Hai (CEO of the Made in Africa Initiative), and others.
For each of the avatars claimed, APENFT will give $5,000 to worldwide charitable organizations such as One Tree Planted and the Koala Clancy Foundation in support of their tree planting efforts.
In addition to the innovative “celebrity + charity” activity, a limited number of mystery boxes designed in the style of celebrity avatars were unveiled during the event. This series contains Michelangelo’s iconic Mona Lisa and David, with each picture made of three separate elements – body, clothes, and colors – to give the NFTs individuality. The donation also includes the sale of the select mystery boxes.
Two days after its introduction, the average price of an ApeAvatar Mystery Box reached $7,129, which was more than 7,100 times the price of a mystery box (1 BUSD) on the Binance NFT secondary market. The highest price was $9,999, while the lowest was $6,600. The event raised a total of $20,000 for charity.
NFT Market is still hot
Non-fungible tokens (NFTs), a form of digital asset, have skyrocketed in popularity this year, with NFT artwork fetching millions of dollars and bands such as Kings of Leon adopting them for their current album.
NFT, which has been traded since approximately 2017, is expected to skyrocket in 2021. In February, monthly sales on the NFT marketplace OpenSea reached $95.2 million, up from $8 million in January.
The NFT market has returned to hot in recent months, after a short cooling-off phase. According to NonFungible.com, which collects statistics from NFT markets, total NFT trade volumes on the Ethereum blockchain are more than $400 million, over half of which occurred in the previous 30 days. At the moment, these tokens are white-hot in the collecting world, where they are being used to solve a problem central to digital collectibles: how to reclaim the value and ownership of something that can be easily and endlessly duplicated.
There are several reasons for the NFT secondary market to grow dramatically. Firstly, the NFT helps solve the digital collectibles problem, encouraging collaboration and long-term value artworks with renowned authors. NFT’s may also be traded on reliable markets such as Opensea, Riable, FTX, BakerySwap, etc. As a result, NFTs became high-demand items on the crypto market and the price of each NFT increased. Moreover, NFT is still a relatively new idea for many since the introduction of digital assets kept in a “wallet” on a blockchain. The transaction represented a turning point for their investing in cryptography. The NFT marketplace is flourishing; it is no surprise.
Among such efforts, avatar-style NFTs led to a highlight. Avatar NFT projects have been named as the top three market shareholders in the digital art market of the NFT, according to public statistics. Avatar NFT projects earned approximately $350 million in secondary sales in the second trimester of 2021, a 40% increase compared to the first trimester. With more and more individuals purchasing digital avatars, NFT avatars are becoming a new sign of prestige. Avatar projects have been generating over $1 billion in sales since the beginning of this year.
NFT avatar projects remain a very tiny niche market, but there are rising requirements for them and the number of projects that seem to satisfy this requirement. Some of these collections have an overall volume of trading in hundreds of thousands of NFT games and the NFT market as a whole. Although some believe that avatars will become dust in one year or two, others pay millions to possess one.
NFT avatar projects were rapidly part of the digital persona of the purchaser. Avatars have always functioned in private clubs as a sign of membership. It also improves the club’s sentiment that many NFT avatar projects build up community conversation on social media. Experts on the market say that mutual investment in a project involves the creation of a particular relationship between the participants of the project.
A lot of NFT avatar collections go beyond the publication of a picture collection. Projects have or aim to perform extra activities including royalties, farming, feature-upgrading choices, and possibilities to employ them in a game environment. Thus, an avatar is a cryptographic asset that incorporates real or prospective value.
Investment assets are also seen as NFT-Avatar ventures. There are limited NFTs in all collections. Guaranteed NFT scarcity and the opportunity to increase prices is what encourages digital art collectors to purchase NFTs irrespective of their significance, characteristics, or aesthetic worth. The Domino effect is, therefore – when you buy an avatar at a high cost, other NFTs with the same value increase collecting.
The rising interest for NFT avatars, and the lifespan of projects, show that the collections of NFT avatars will remain and continue to grow.
ApeAvatar, which was founded on charity, not only investigates the financial value of the NFT industry but also allows NFT and the blockchain technology that underpins it to play a larger social role. NFT creates a new channel for charity, and philanthropy helps NFT reach a broader audience, producing a win-win and virtuous loop. From the standpoint of the NFT industry, it should move beyond aesthetic and financial value in the early stages of growth and play a larger societal role for both creators and the art industry.
NFT was not just formed to promote the renowned creators or masterpieces of hundred years. NFT can also benefit other artists, designers, photographers, or illustrators. It has provoked some artists who have discovered their works in the hands of those who have no part in its production. An ambitious artist may now price or auction the NFT of its photographs and art videos to the highest bidder. NFTs enable numerous artists from different backgrounds and genres to express ideas, meet new people, and perhaps begin their careers.
Once an NFT is generated, it may be tracked digitally. Moreover, NFT cannot be reproduced, in addition to a raw picture file, by giving it the cachet of original art and enabling the sorts of transactions that in recent months have sprung up public attention. This may make it easier for patents to be sold, traded, and commercialized by investors and innovators.
Inversely, experts say that the NFTs are the last step toward Blockchain’s long-awaited technology, which they expect to dramatically change global capitalism, affecting everything from housing to healthcare to art.
APENFT developed well-designed cyberpunk-style NFT avatars of 50 worldwide prominent individuals, among them, Justin Sun, David Gokhshtein, Helen Hai, and Ciara Sun have claimed their avatars, and the total donation amount has reached $20000.
High-quality NFT blockchain projects, such as ApeAvatar, will soon become the fuel of the digital economy, not only accelerating the entry of new players but also bringing creative impact to consumers in the entertainment and cultural industries that cannot be ignored.
APENFT Official Website: https://apenft.org
APENFT Twitter: https://twitter.com/apenftorg
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