The biggest NFT collections of 2022...Punks? Apes? Azuki? Find out which projects racked up the largest trading tallies in an up-and-very-down year for NFTs.
It was a tale of two NFT markets in 2022: the speculative madness that defined the first few months of the year, and the steady decline since that has culminated in a dramatic drop in trading action and prices for major collections.
Amid the early-year froth and the brutal aftermath, some projects clearly stood above the rest in terms of trading demand.
The Pussy Riot co-founder is partnering with Rolling Stone to promote inclusivity within the web3 community with a new NFT collection.
In collaboration with Rolling Stone and photographer Ellen von Unwerth, Tolokonnikova is releasing a series of portraits that reflect on art and sexuality, with a unique “cover image” featuring the Rolling Stone logo being auctioned off, with 100% of the proceeds going to Tolokonnikova’s and John Caldwell’s reproductive rights charity portal, LegalAbortion.Eth. Tolokonnikova has also launched UnicornDAO, a “decentralized autonomous organisation” that uses the same fundraising structure to commission and purchase non-fungible tokens (NFTs) by women, non-binary people, and LGBTQ artists.
“Crypto has opened my mind,” she says, “that I could use money as a revolutionary tool.”
The collection is intended to depict a world where women, men, and everyone else are equal and aims to promote inclusivity within the web3 community.
In addition to the auction of the “MATRIARCHY NOW” cover image, which will benefit women’s reproductive rights, the highest bidder of the auction will also receive an official physical art print of the photograph taken by Ellen von Unwerth. This is meant to further extend the project’s impact and support women’s reproductive rights. The project is intended to promote inclusivity within the web3 community.
Creators of best-selling internet collectibles have responded to a crash in the value of crypto and digital assets by seeking new revenues, such as using cartoons to sell real-world products and create entertainment franchises.
Digital items known as non-fungible tokens burst into mainstream culture last year as people snapped up animal collections, including Bored Ape Yacht Club, Cool Cats and Pudgy Penguins.
Celebrity endorsements and social media hype helped encourage people to spend billions of dollars to acquire NFTs from marketplaces such as OpenSea.
But the market has plummeted since April after being hit by a sell-off in the broader cryptocurrency market, which has been rocked by a series of high-profile scandals such as the collapse of crypto exchange FTX and the TerraUSD stablecoin in May.
“If sales are not predictable, consistent [and] recurring revenue, [then] you have to figure out how are you going to diversify your revenue streams and expand,”said Drew Austin, co-founder of Knights of Degen, a sports-themed NFT project and one of the investors behind crypto group WAGMI United.
Some analysts are sceptical that NFT makers will create successful businesses beyond selling digital art. “The fundamental model of NFTs didn’t work,” said Claire Enders of Enders Analysis. “It was a bubble that has burst and is not going to happen again.”
Doodles, a leading NFT project, recently hired musician and producer Pharrell Williams as its chief brand officer, who has used his music to produce live animations of the Doodles characters. The group is working on a video series and an album.
\We wouldn’t usually write on such a niche topic but this comparison between the luxury watch industry and NFTs is particularly interesting. According to various reports the exceptionally traditional industry of luxury watches has been all but uprooted by the sensational upswing in the popularity of blockchain technology and NFTs over the last couple of years…
Back in 2021, high-end jeweller and watchmaker Jacob & Co tested the waters with a ten-second animation of their SF24 Tourbillon model, a timepiece limited to 101 copies and valued at around $230,000 on the secondary market. Flanked with other exclusive privileges such as a private dinner with the company’s CEO and the chance to get involved with the next collection, the NFT fetched a respectable $100,000 at auction on the ArtGrails platform. The news naturally made waves in the watch community, with many attributing the crossover to a passing fad or even a cash grab (as was the majority assumption in 2021 when it came to NFTs).