Making a stealthy return, NFTs and Crypto Punks are clawing their way back into the spotlight.
Once fading after the 2021 crypto frenzy, they’re now poised for a resurgence, boosted by celebrity shout-outs and clever alliances.
Crypto Punks Back From the Dead With Trump’s NFT Collections
President-elect Donald Trump’s recent ventures into the digital asset space are a notable spark in the NFT revival.
The self-proclaimed “first crypto president” has not only embraced NFTs but has released collections that have garnered significant attention.
Among these is an NFT featuring his mugshot from a 2023 arrest, which intriguingly included perks like access to exclusive events at Mar-a-Lago. Trump’s move has reignited interest in NFTs, positioning them as both collectible items and unique access tokens.
• ᴗ • 11/18 pic.twitter.com/LDxlE9pnrx
— McDonald’s (@McDonalds) November 12, 2024
The revival of CryptoPunks is hard to ignore. Its trading volume skyrocketed by 392%, pulling millions into the market within days. This surge thrust CryptoPunks back into the NFT spotlight, neck and neck, with anime giants like Azuki.
On another front, Doodles, an NFT project, is breaking through the mainstream, teaming up with McDonald’s to slap their characters on cups as digital collectibles.
This collaboration enhances Doodles’ reach and is a step toward merging classic brands with the digital realm of Web3.
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Blur and OpenSea Are Making Moves
The NFT marketplace Blur is exploring new fee structures, aiming to capitalize on the growing interest and redirect earnings to its governance token holders.
This potential fee shift reflects a strategic adaptation to bolster marketplace sustainability and user engagement amidst fluctuating market conditions.
OpenSea, another leading NFT platform, hints at an upcoming airdrop that could potentially reward users with XP points based on their activity. Will this save NFTs entirely? No. However, it means the two biggest marketplaces realize that a Trump presidency could bring about a new resurgence in digital art.
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The Road Ahead for NFTs
Digital art is staging a comeback that’s more than just a flicker. We’ve yet to see big endorsements for Crypto Punks or NFTs, but that tactic might have been traded for smart partnerships like Doodle X McDonald.
NFTs might be setting the stage for a fresh epoch in digital trading. Armed with creativity, real-world applications, and smart partnerships, they could take center stage again.
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