New NFT Cathedrals Are Going Up Everywhere

• SOL-USD
  +2.97%
• ETH-USD
  +0.92%

Fungible memes have dominated crypto’s conversation for the better part of two years now.

But as we’ve seen a million memecoins come and go, NFTs have been somewhat quietly been getting interesting again. I say quietlybecause attention largely remains elsewhere onchain.

However, if you’re not paying attention to NFTs right now, you’re missing some awesome opportunities. Creators are shipping new collectibles, new designs, new primitives, new possibilities. New NFT cathedrals are going up everywhere, and people are, yes, making gains on NFTs again.

Consider NFW, a new social NFT marketplace on Solana in the vein of Fomo, centered around a feed of trades and public calls. Some people are already up 6 figures here.

And we’re back to the point where NFT mints are becoming clamored for again. Look no further than Jack Butcher’s Credits drop on Ethereum, which just fielded +120,000 mints!

Credits collectors paid $8 eachched +0.1 ETH a pop at one point, marking a +3,000% gain. Even with the current ~0.028 ETH floor, that’s +800% appreciation

And new projects spawn new experiments in kind, of course. TokenWorks wasted little time in rolling out a CreditStrategy token, which will now work to automatically acquire and relist Credits for the benefit of supporters.

New releases beget new expansions, new expansions beget new ideas, new ideas make for new releases, ’round and ’round. And as things heat up in a bull market as we’re seeing now, this flywheel spins faster and leads to fresh opportunities at a rapid pace.

In other words, NFT enjoyooors have a target-rich environment once again. One where it’s common to be rewarded (in various ways, but quite often literally with tokens) for trying new things. Once more into the breach just like the good ol’ days, ladies and gentlemen.

Speaking of breaching, the Ethereum community’s NFT interest has returned anew this yearng. Full disclosure, I’m an FWA holder/user, and spins have degen odds. The innovative design here is undeniable, though, and reminds us of the fresh second-order creations we can make around NFTs in this new era

I specifically bring it up as a prime example of the interesting risk-reward opportunities we’re seeing boom again around NFTs. Indeed, FWA’s prizes can be sensational. For example, the protocol is acquiring PunkStrategy Cryptopunks and dropping their backing price by 1 ETH twice per day, increasing the likelihood they get pulled.