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CryptoPunks Whales Stick to Larva Labs, Have Highest NFT Market Cap – Report

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CryptoPunks, digital collectibles created by Larva Labs, have a high ‘whale’ concentration share, with 10 wallets owing 1,410 digital assets, but the collection’s robust market capitalization of USD 3.1bn makes it less prone to manipulation, according to a report released by data aggregator and analysis firm DappRadar.

As part of its research into non-fungible tokens (NFTs) and cryptocurrency whales, a term used to describe individuals or entities that hold significant amounts of crypto or crypto assets, DappRadar is employing a method based on on-chain indicators for the NFT space, the whale concentration index. The index measures how diluted or concentrated a given collection is, and it indicates the number of pieces that are owned by the top 10 wallets for a given collection.

They found that the studied CryptoPunk whales are heavily focused on Larva Labs collections, as they do not own any other crypto assets besides Art Blocks, at 427 NFTs, CryptoPunks, with 1,410 cryptoassets, and Meebits, which are also developed by Larva Labs, at 1,329 NFTs, according to the analysis.

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CryptoPunks Whales Stick to Larva Labs, Have Highest NFT Market Cap - Report 102
Source: DappRadar

CryptoPunk whales hold the most valuable portfolios on average, with USD 53.6m, followed by Bored Ape Yacht Club (BAYC) and Art Blocks whales with an average of some USD 11.5m.

Pudgy Penguins and BAYC are among the best-distributed collections in the NFT space. Similarly, Cool Cats whales also tend to display diversified NFT strategies.

And while CryptoPunks whales are the less diversified group, BAYC whales – in contrast to Larva Labs whales – appear to have a very diversified NFT investment strategy, said the report. Besides BAYC and Bored Apes Kennel Club, Bored Ape whales have “significant holdings” in Art Blocks and Meebits. Also, 40% of BAYC whales have at least one CryptoPunk in their collection, DappRadar said, adding that:

“Collections like the BAYC and Art Blocks whose average price increased significantly as of late, are being used as a way to obtain profits. Whilst Art Block whales prefer to re-invest in their preferred collection, BAYC whales are looking to discover the new NFT gem by diversifying their holdings.”

Art Blocks whales have “important holdings” in CryptoPunks and Meebits, collectively owning 211 and 414 pieces respectively, it added. Furthermore, “Pudgy Penguins appear to be liked by these whales as 202 Penguins are also owned by Art Block whales.”

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Whales who own Axie Infinity collectibles are mostly focused on gaming NFTs, and only two of such whales own diversified NFT collectibles portfolios.

To DappRadar, BAYC looks like the healthiest collection in terms of market manipulation owing to a low whale concentration index and an impressive market capitalization of USD 1.1bn.

“In regards to the six collections analyzed, there is no concern about market manipulation,” said the report. “Those collections that may lean towards a more concentrated supply like the Larva Labs projects are already established as premier NFT collections hence the risk is significantly reduced.”

Newer collections like the Pudgy Penguins “may be at a higher manipulation risk,” although their concentration metrics show a well distributed project despite a recent launch, DappRadar concluded.

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How to Buy and Sell NFT | Buy Non-Fungible Tokens

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This How to buy and sell NFT article discusses most of the things about NFT’s and its features. However, this article should not be taken as financial advice. Instead, we urge the traders and investors to do their own research before getting involved in cryptocurrencies.

The crypto space never fails to surprise investors around the world with its never-ending blockchain development. In 2020, the decentralized finance or DeFi, rocks that crypto world with its monstrous total value locked (TVL), amounting to over $1 billion. As a result, DeFi projects spring up like mushrooms in the crypto market.

This year, 2021, it’s a different story. The non-fungible token (NFT) is taking the crypto world by storm. In detail, these NFTs catch the attention of creators, collectors, and crypto enthusiasts worldwide. In fact, there are already collectors and enthusiasts that have already spent millions of dollars buying these NFT.

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Furthermore, the rise of the NFT saga opens news possibilities to all the digital artists and businesses around the world. In other words, these digital artists and business owners can now showcase their arts in the global crypto community. In the past month, the artist named Beeple sold an NFT amounting to $69 million at Christie’s auction.

On the other hand, NFT’s are not limited to art designs and images that are sold in auction houses. There are also NFT’s that are used to entertain people. Best of all, these NFT’s that are used to engage people also give rewards. In short, these NFT’s are mostly found in play-to-earn games such as Cryptozoon and My DeFi Pets.

Now that we already have some idea about NFT’s, let’s dig deeper to know more about NFT. In this How to buy and sell NFT article, we will discuss the features of NFT. Of course, let’s not forget the most important part, how to buy and sell NFT.

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What is Non-Fungible Token (NFT)

NFT nowadays is one of the hottest topics in the crypto world. From digital art images to play-to-earn games using NFT creatures, these virtual assets are selling like crazy. In this part of the How to buy and sell NFT article, we will discuss what NFT is and how it has taken the world by storm in the past months.

An NFT is a virtual asset that represents objects from the real world such as music, videos, and in-game items to name some. These NFT objects are mostly encrypted with blockchain systems. As a result, NFT’s that are encrypted with blockchain are always unique with no chance of being altered.

In addition, through NFT, gamers can take ownership of the items they bought in their games’ marketplace. With this, gamers have the option to keep or sell their item whenever they want. Truly, these features of NFT made the process of buying digital objects to the next level.

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Furthermore, NFT also has a built-in authentication that allows the user to identify real over fake. Through this, users will not have a hard time knowing the original item or product. This is very important, mostly with the digital collector who values digital bragging rights more than the item itself.

What Is the Difference Between NFTs and Crypto

Now that you already know what an NFT is, let us know the difference between NFT and crypto.

The type of blockchain programming used in creating crypto and NFT is almost the same. In other words, both NFT and crypto run its system through blockchain. As a result, investors acquiring both crypto and NFT can be sure that their digital assets are secured and authentic.

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One basic factor that separates NFT from crypto is that NFT is a digital asset that cannot be traded to one another with equal value. Why? Simply because each NFT has a unique digital signature, and it is non-fungible. For example, crypto assets are fungible because they can be traded with one another with equal value, like one BTC price is equal to another BTC. But, NFT has a different story. Firstly, it is non-fungible. Secondly, each NFT is unique from one another. Therefore, this makes NFT impossible to be exchanged equally with each other.

How to buy Non-Fungible Tokens (NFTs)

For sure, by now, you are already wondering how to buy NFT, and it is hard to buy NFT. Do not worry! In this part of the How to buy and sell NFT article, we will explain how to buy NFT the easiest and smoothest way possible. So without further ado, let us now discover how to buy NFT.

To start, you need to find a crypto wallet that allows you to purchase and receive NFT’s. Nowadays, the crypto world offers a lot of crypto wallets that are compatible with NFT’s and multiple crypto assets. Therefore, it is up to you to choose the kind of wallet you want. But, of course, do not forget to fund your crypto wallet with cryptos, you will need it to buy NFT’s.

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The next step is to look for an NFT website where you can find the kind of NFT you want to buy. This will not be a hard task for you since there are a lot of NFT sites offered in today’s time. Some of the popular NFT marketplaces include OpenSea.io, Rarible, and Foundation, to name some.

Furthermore, aside from the NFT sites that are mentioned above, you can also buy NFT’s on gaming market places such as Cryptozoon and My DeFi Pets, to name a few. Fast forward, now that you have chosen which website you want to buy NFT. It is now time to pay the NFT using your crypto wallet. In some cases, the website requires you to connect your crypto wallet to the platform for easier payment procedures. However, not all are like that; some have different rules. But, don’t worry, for sure it has instructions that are very easy to follow.

Where to Buy Non-Fungible Tokens (NFTs)

As mentioned above, many different platforms in the crypto world offer NFT. Hence, you already have an idea where to go when buying NFT’s. However, did you ever wonder what is the difference between these various platforms? Worry no more; we will discuss some details about the famous NFT platforms in the crypto world.

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Opensea
Source: OpenSea

OpenSea is one of the first and largest NFT markets in the crypto world. As a result, investors can enjoy many kinds of NFT’s such as the exclusive and trending OpenSea drop. To get started, collectors just have to create an OpenSea account then connect their crypto wallet.

Rarible
Source: Rarible

Rarible is a simplified place for NFT projects and ideas. Furthermore, the platform also has its native token called RARI tokens. This token is used in the platform on features like fees and community rules.

Source: Foundation

Foundation is another NFT platform on the crypto world that offers huge selections of NFT’s. However, the artist must receive upvotes or an invitation from other NFT creators in the platform to post their NFT art.

CryptoPunks
Source: Larva Labs

CryptoPunks is one of the rising NFT networks in the crypto world. Furthermore, CryptoPunks are 24×24 pixel art images, generated algorithmically. In detail, most of the NFT in the platform are punky-looking people. However, there are also some rare NFT’s like apes, zombies, and aliens. One of the most expensive CryptoPunks was sold at a high price of $7.6 million.

FAQ

Can you sell an NFT you bought?

The NFT collector has the right to sell the NFT that they just purchased. Furthermore, the price of the NFT depends on the decision of the seller.How much can you sell an NFT for?

The price of the NFT changes from time to time. Therefore, the price of NFT purely depends on the seller. It depends on them if they sell it higher or lower.What NFTs sell best?

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Today, there are a lot of NFT’s that are springing like mushrooms in the crypto world. However, the CryptoPunk network sold an NFT amounting to $7.6 million. But, of course, CryptoPunk is just one of the many NFT that sell good. It is still good to do research to know more about the NFT’s that sell best.How do I trade in NFT?

NFT is a non-fungible token. Hence, NFT cannot be traded like a crypto asset that is fungible. In other words, each NFT is unique and has different values from the other. Instead, collectors can sell the NFT again on the market store of the website.

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Andre Cronje Launches New NFT Marketplace Called Artion on Fantom

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  • Andre Cronje has launched a new NFT marketplace called Artion on Fantom blockchain.
  • The Artion NFT marketplace works similarly just like OpenSea.
  • Artion will support all ERC-721 tokens.

As curiosity grows around the emergence of Non-Fungible Tokens (NFTs) from nowhere, Yearn.Finance CEO Andre Cronje has also launched his brand new NFT marketplace called Artion. Specifically, Cronje launched Artion on top of the Fantom blockchain.

The Artion NFT marketplace comes as a beta version that operates similarly just like OpenSea. As per the report, since the Artion NFT uses the Fantom blockchain, it is faster and less expensive than the Ethereum-based OpenSea.

Adding more, unlike other existing NFT marketplaces that charge platform fees, the Artion NFT marketplace charges zero commission on sales. Also, the platform comes with a low minting fee. As of now, there are over 50,000 NFTs on Artion that are all Fantom NFTs.

On the other hand, Artion only costs 1 FTM which is about $1.3 in a course of minting an NFT on the Fantom blockchain. Citing from the report, the Artion marketplace can even cost hundreds of dollars to mint NFTs via the Ethereum network.

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Apart from this, Artion will not limit its services to the aforementioned alone. Instead, it will give intuitive support to all existing ERC-721 tokens from now on. It will eventually do this based on how it has been structured to work.

In addition, Artion’s NFT assets are mainly stored via a decentralized web hosting network IPFS. To clarify, the NFTs are only 15MB and they are priced based on Chainlink’s feeds.

With this launching, Cronje’s side expectation is that many fintech’s should opt-in and fork Artion for expansion. Alongside this, Cronje stressed that he didn’t bring Artion as a challenge to OpenSea but he loves  “starting fires”. Furthermore, Cronje even tweeted a GIF saying “It’s not about the money, it’s about sending a message.”

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Snoop Dogg Partners With Metaverse Sandbox

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  • Snoop Dogg partnered with the Sandbox.
  • Snoop Dogg creates, shares and monetizes NFTs on Ethereum (ETH).

The crypto world’s presence continues to be felt in and outside the crypto space. This time, the famous rapper Snoop Dogg partnered with the Sandbox. In detail, the Sandbox is a non-fungible token (NFT) project of Metaverse. Through this gaming ecosystem,  Snoop Dogg can easily create, share and monetize NFTs and gaming experiences on Ethereum (ETH).

The Sandbox gaming ecosystem will also allow the rapper to build his own mansion where fans can participate. For instance, Snoop Dogg can create his own palace or mansion of his liking where the player can join Snoop at his parties and concerts.

Snoop Dogg further explained:

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I’m always on the look-out for new ways of connecting with fans and what we’ve created in The Sandbox is the future of virtual hangouts, NFT drops and exclusive concerts.

Snoop added that NFT brings online adventure to the next level. he said,

We’ll have a fresh set of Dogg style NFTs that players can integrate into the game experiences to take this online experience to the next level for sure, he said.

On the other hand, the NFT space continues to make noise that can be heard everywhere. Today, NFT is not limited to arts. It has also entered the world of play-to-earn games such as Cryptozoon and My DeFi Pet, to name a few. Through this, we can say that the crypto world is one step closer to dominating the digital and financial system of the world.

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