Trend 07
Cryptocollect
Cryptocollect
Restoring unique value.
Trend axes
- NFT
- Blockchain
- Digital content
- Crypto Collectibles
Some figures
2017
The year the term non-fungible token (NFT) was first coined on the Ethereum blockchain platform.
76%
Average increase in sales for collectors who used only the internet to sell their works last year.
45,000
Weekly NFT sales reached in March 2021.
90%
Share of NFTs produced that are estimated to have little or no value within three to five years.
A new path to exclusivity
So-called “crypto collectibles” are digital objects stored on a blockchain, mainly in the form of tokens. Non-fungible tokens (NFTs) are unique to each item and cannot be exchanged one for one, like cryptocurrencies.
The authentication and scarcity of these digital contents, which come from the decentralised storage and transaction traceability offered by blockchain, make it possible to create items with artificial scarcity that become rare collectables in different sectors, such as art, fashion, sport and video games, among others.
For many, this technology is the right formula for keeping different items exclusive, from trading cards to works of art, and restores a market until now threatened by how easy it is to make digital copies.
NFTs are also positioned as a new investment route. As well as buying these crypto collectibles individually, investors can also use ETFs (exchange-traded funds) created specifically for this purpose that track the performance of these items.
Expert view
Javier Arrés
Crypto artist
“NFTs have not come to destroy but to coexist and contribute, maximising companies' and brands' chances of finding new opportunities and channels for contact and engagement. It is a trend that had a first boom to make itself known, but keeps growing in collectors and interested people every day.
We are looking at a rising market that in Spain has yet to be exploited by organisations and sectors such as sport. A blank canvas that is not so hard to enter and where the possibilities multiply thanks to international reach.”
Cases
01 / 04Zorraquino spotlights
- 01
As NFTs establish themselves as a new investment alternative, regulation and greater attention to legal issues will be needed.
- 02
For their supporters, NFTs track ownership and guarantee the authenticity of art. For sceptics, they are a bubble within a bubble, a speculative frenzy far from sanity.
- 03
Buyers' and traders' motivation is surely based on getting rich quickly. People buy in the hope that it will be worth more in the future.
Zorraquino playlist
- Money Money Money…Boma Estéreo · 2017
- De la Monarquía a la CriptocraciaTriángulo de Amor Bizarro · 2010
- Oye, nena, yo soy un artistaSiniestro Total · 1983
More on the trend
References
- Chainmail
- NFT Diamond Co
- Nueva York inaugura la primera galería de arte dedicada a obras en NFT
- New York Superchief Gallery
- Buyer behind $69m record-breaking art sale revealed
- Copyright violations could crash the NFT party
- Un niño de 12 años gana 135.000 euros en un día vendiendo estos NFT
- Single pixel of digital-only art sold for more than $1.7 million at Sotheby's
- NFT of the Dead
- ¿Qué son los NFT? La última burbuja a punto de estallar o el inicio de un mundo criptográfico
- 10 NFT Business Ideas You Can Start Today
- ¿Una moda pasajera? El mercado de los NFT se desploma un 95% en un mes
- El arte era esto: venden un NFT de un píxel por 1,36 millones de dólares
- The NFT bubble might be bursting already
- How non-fungible tokens became the latest tech speculation bubble
- Non-fungible tokens (NFTs): Possible speculative bubble with potential for sustainable innovation
- Top 10 NFT más caros de la historia
- Andrés Reisinger sells collection of "impossible" virtual furniture for $450,000 at auction
- La revolución de los NFTs, ¿burbuja especulativa o creatividad sin fin?
- NFT of the Dead
- WeNew
- NFT Diamond Co.
Pages 130–147 of the report
