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December 9, 2024
Following the last 10 months, the future of NFTs seemed pretty nebulous. However, in the last few weeks we are witnessing a surprising awakening in markets, with a 32% increase in NFT holders. Following these vital signs and of course The Merge, the market might be interesting again.
One of the most interesting things in the NFT market that has happened for a long time, was the launch of “THE AUROCHS”, the first official NFT collection that was launched by a sports group, the NBA’s Chicago Bulls.
The collection was the result of special initiative by the Bulls: The team invited 23 leading digital artists (an obvious tribute to MJ) from around the world (including Deadfellaz, Logic and more) to have their take on the team’s logo. The result is a-23 image collection, each of a unique creation. The collection was minted during a 24-hour auction, each piece was offered at the starting price of 0.2 ETH, and some pieces got (so far) to over 8 ETH. All of the proceeds from the sale were donated to a youth related nonprofit named After School Matters.
Another interesting aspect of THE AUROCHS is that it was minted on Coinbase NFT, the new NFT marketplace in the scene. Coinbase is one of the sponsors of the NBA, and launched its own NFT marketplace last May. Coinbase’s marketplace showed low sales numbers until now, but the Chicago bulls collection was sold entirely in the 24 hours of the mint. The marketplace hosts some of the most known NFT collections like Bored Apes and Cryptopunks, but with this initial public minting, Coinbase NFT marketplace is definitely on the map.
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