There is no denying that pop culture has entered the NFT space in full force. The World of Women collection created by Yam Karkai has followed in the
There is no denying that pop culture has entered the NFT space in full force. The World of Women collection created by Yam Karkai has followed in the footsteps of Bored Ape Yacht Club (BAYC) by signing with a big-time Hollywood agent, and Madonna was propositioned to buy a blue chip NFT and she might be giving the offer serious consideration.
Many new entrants are influenced by celebrity endorsements, yet the community proclaimed “OGs” are bullish on “historical NFTs” and are allegedly not swayed by hype. However, when entrepreneur Gary “Vee” Vaynerchuk purchased “CrytptoSkulls,” a resurfaced 2019 “historical NFT” for 100 ETH, the market for pixelated skulls surged.
One of the 1/10 @Crypto_Skulls Skull Lords just sold to @garyvee for 100 ETH pic.twitter.com/PC2TXsFeVo
— medved (@mattmedved) January 15, 2022
The current rise in attention around historical NFTs, begs the question: Is the historical relevance of the NFT/artifact where it derives its value or, is it just the hype around the narrative?
Some projects and entities make history, others go down with it.
The hype around history lures investors
On January 10, 2022, CryptoSkulls re-surfaced into the ether and quickly became relevant as several investors and influencers ran to the collection to take part in holding a piece of history.
Self-proclaimed NFT archeologists Adam McBride and Leonidas.eth are known for their extensive knowledge and advocacy of “historical” NFTs. These particular collectors are not keen on the notion of short-term flips, but instead see the long-term value in holding a historical NFT.
CryptoSkulls had been at the top of OpenSea in total volume for the last week but has lost its spot within the top 5 on the ranking charts. Nonetheless, the project closed out a total volume of $41.79 million on OpenSea alone.
Leonidas.eth sold the “historical blue-chip”, CryptoPunks, for CryptoSkulls, leaving other collectors wondering if this was some alpha they should get in on. According to CryptoSlam.io, the CryptoSkulls advocate has generated approximately 137 Ether ($444,500) from sales.
Just sold my punk to buy more skulls.
I’m so proud of the skull community for helping open the door to everything that came before them on the timeline. I’m all in on @Crypto_Skulls and historical NFTs and am not going anywhere.
What is dead may never die! pic.twitter.com/oOcxuz7lGr
— Leonidas.eth (@LeonidasNFT) January 15, 2022
Gary Vee, notably stole the show stating the importance of long-term plays with historical NFTs, suggesting they could be “the next CryptoPunks.”
The niche group of artifact-like NFT collectors warned against “hype,” yet there seems to be an influx of investors into the newly trending “historical NFTs,” especially after notable influencers reiterated their importance.
The question is, will historical NFTs last through the test of time? Or will they only periodically have their time in the spotlight for influencers to profit?
The World of Women effect
There seems to be growing popularity in showcasing female-led projects, especially after the World of Women (WoW) collection signed with Guy Oseary, the manager of Madonna and BAYC.
We have exciting news to share
@guyoseary is now WoW’s manager
We’re updating our IP rights to grant YOU complete ownership of your WoW!More information on our Discord.
— World of Women (@worldofwomennft) January 12, 2022
WoW entered the mainstream with renewed IP rights and captured the attention and support of celebrities like Reese Witherspoon, Eva Longoria, Gary Vee and Shonda Rimes.
Investors seem to be drawn by the celebrity line-up and WoW’s mission, as its largest sales occurred within days of each other. Notable sales were a 210 Ether and 260 Ether transaction.
Currently the NFT floor fluctuates between 8.6 Ether to 16.8 Ether and WoW has steadily cemented itself as a “blue chip” contender for NFT collectors.
World of Women has opened up space for other female-led projects such as Boss Beauties, Fame Lady Squad and Women Rise to share its spotlight and band in support. Each mentioned collection has seen a rise in both its unique holders and price. The average number of holders among these projects whose collections range from 8,888 to 10,000 pfps, is 4,800.
As more owners and co-owners of these women-led projects publicly support the successes of each other, some skeptics believe it’s merely a trend in time. However, with each passing milestone, these female projects seem to cement their place for being more than just “alpha” that will prove to be a profitable long-term investment.
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cointelegraph.com