The Big Bang of NFTs and the Metaverse
Although the concept of Non-Fungible Tokens (NFTs) was first coined in 2014 by digital artist Kevin McCoy, the popularity of NFTs exploded in 2021. Prestigious and well-established auction houses such as Sotheby’s and Christie’s contributed to the boom of NFTs when they started selling NFT art themselves.
Towards the end of 2021, social media giant Facebook took a new leap into the Virtual Reality (VR) world and ultimately rebranded as Meta, and welcomed the next generation of the internet, VR and Web3 as we know it – introducing the Metaverse.
The Marriage Between NFTs and The Metaverse
NFTs and the Metaverse are completely different concepts and one may wonder how the two could be integrated. In short, the Metaverse is a 3D version of the internet as we know it, whereas NFTs refer to unique digital assets existing on a blockchain, and can be anything ranging from artwork, real estate or in-game avatars.
Oleg Fonarov, through Forbes, has identified three ways in which NFTs could be used in the Metaverse. These include the integration of a virtual marketplace, allowing users to view assets in the VR landscape as well as integrating art galleries into the world of Web3. The final connection is the purchasing of online real estate for further Web3 development. Fonarov believes that all three of these aspects are what will bring together these two worlds and ultimately take the next leap into Web3.
The (Virtual) Planet of The Apes
Although the fantasy film The Planet of the Apes did not quite become a reality in the physical world, there is no doubt that in the virtual world, the apes have taken over. The biggest NFT sales included the likes of the highly popular Bored Ape Yacht Club (BAYC) and the ApeCoin. The ApeCoin market cap has hit 6.5 Billion, surpassing the 2.6 Billion cap of Axie Infinity. To put things in perspective, if you had minted a BAYC NFT at $0.08 – your returns would have multiplied by 1,937 – something that you will not witness in the traditional stock market (probably ever). ApeCoin has shown an increasing interest in the adoption of the Metaverse and NFTs, confirming that we are just entering the prosperous era of NFTs and the Metaverse.
Is There Still an Opportunity To Join In On The Fun?
With the bizarre return on investment with the BAYC and ApeCoin, those who did not get their hands on the lucrative NFTs may feel like they have missed out completely. Staying within the theme of the ape world, a promising project, and possibly the next big NFT boom could be the Drunken Monkey Club. Not only can those who own an NFT in the Drunken Monkey Club gain unique access to the virtual world of the Metaverse, but unique experiences and access in the physical world are just the cherry on top.
Painted as an exclusive private members club, Drunken Monkey Club promises members exclusive lifetime services as long as they hold onto their NFTs. These exclusive services include access to some of the world’s most exclusive events, bars, clubs and restaurants, even offering members discounts of up to 50% at select partners. Investing while simultaneously saving money at luxurious landmarks seems to be the best possible payoff that one could imagine. The Drunken Monkey Club app (available on iOS and Android) will be the key to accessing all of the exclusive perks.
The Drunken Monkey’s first private mint sale in March of 2022 sold out in a whopping 20 minutes. Those same NFTs are now being sold at 4 times the original price, which simply proves that this is a project worth keeping an eye out for. The white list pre-sale will be launching soon, listing the NFTs for 0.5 ETH each. It is imperative to stay up to date with release news to avoid missing out.
With exceptional returns seen in the rise of BAYC and ApeCoin, there is no doubt that many eager investors may feel left out of the hype and exclusivity. Although some may be feeling that they have missed out on the opportunity – the likes of Drunken Monkey Club gives investors a second chance to not only enter the illustrious world of NFTs and the Metaverse, but also to gain exclusive access to some of the best events in art, fashion and music.