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- A massive jump in the NFT market has been seen in the year 2021 both in terms of new NFT launches and Market Cap
- Many celebrities and influential personalities are taking an interest in NFTs, either by buying or creating one on their own
- Total Market Cap of NFT market have gone approx $22 Billion in 2021, which was just $100 Million in 2020
In the wave of NFT, many celebrities are participating according to their interests. Recently on 1 January 2022, Taiwanese singer-songwriter Jay Chou launched his NFTs, which were created with the help of PHANTACi, his hipster brand. The NFTs were named PhantaBear, and 10,000 NFTs were launched at the base value of $1000, which is 0.26 ETH. The popularity of NFT can be understood by the fact that soon after the launch, all the NFT went sold out in just 40 minutes.
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On top of that, PhantaBear NFT has reached the first spot in terms of trading volume on the NFT market OpenSea. It’s been just ten days at most, and it’s on top of the list beating the previous famous NFT Bored Ape Yacht Club (BAYC). Even its floor volume, which was 0.26 ETH at its launch, is now at 5.5 ETH. This rise has been observed and talked about by so many people. Even BAYC stated from its official Twitter account that it’s likely that the next BAYC will come from Asia. The co-creator of NFT Phantabear Pop Star Jay Chou had also mentioned in his tweet with the OpenSea’s list with PhantomBear first rank that he was not kidding when he was all about being no.1, that shows his spirit about NFT from the very beginning.
Jay Chao was yet another celebrity interested in the NFT market; many other celebrities have also entered the NFT market. NFT at tenth spot TheHeartProject belongs to Hong Kong actor Edison Chen in the list. Recently a Famous American Rapper, Eminem, bought a BAY NFT worth $452k; this made huge headlines about NFTs.
Before PhantaBear, BAYC was holding the top spot in the list of OpenSea markets, which was considered most likely bought by the people in America as it was popular there. The same goes for MAYC too. But with the entry of PhantaBear into the market and placing itself on the list, it clarifies that Asia also holds potential to be a vast NFT market in the upcoming days. If it had made a newly launched Phantabear NFT on the top of the list, that shows people are taking interest and leaning towards NFTs.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
