This is the boost that Metaverse needs right now, and could be an irreplaceable token that appears to be on the last leg after starting the year with great success. The two buzzwords at the beginning of the year seem to have lost their luster.
The euphoria that surrounds them has diminished.
But by announcing her arrival in the Metaverse, Madonna can undoubtedly regain interest in this concept at the heart of Facebook’s future, now known as the Metaverse. ((((FB)-Get Class A reports from MetaPlatforms Inc... In addition, it is one of the huge social network platforms that has announced to the world that pop stars are now part of the carefully selected Bored Ape Yacht Club NFT (BAYC).
“I’m finally in the Metaverse,” the singer “Like AVirgin” wrote in her Instagram account. “My own ape!”
“What should I name her?” The Material Girl asked below the image of her ape. No # 4988, this boring monkey looks to a sleeveless logo T-shirt, an S & M hat, and a magenta body.
After that, the artist thanked startup MoonPay. Undoubtedly, the company she bought Bored Ape.
“Thanks to @moonpay. We all need protection from the eyes of evil.”
NFTs are a way to own digital content such as photos and GIFs.
Metaverse promises a virtual world of social interaction with others through Avatar.
To further mark Metaverse and NFT’s entry into the world, Madonna is modifying her Twitter profile picture. This now represents a boring monkey.
To get her boring monkey, Madonna paid 180 ETH (Ethereum, the second largest cryptocurrency in market value). This translates to approximately $ 571,206 at the time of writing. According to the NFT Marketplace OpenSea, the purchase was made by MoonPay on March 14th.
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Bored Ape Yacht Club is an NFT collection of 10,000 monkey avatars created by Yuga Labs. Celebrities such as Paris Hilton, Jimmy Fallon and Eminem all have their own special apes.
Yuga Labs has also acquired rights to the CryptoPunks and Meebits NFT collections from its creator, Larva Labs. Bored Apes and CryptoPunks are the two most valuable NFT collections by market capitalization, worth at least about $ 3.6 billion at current prices.
Questions about the usefulness of NFTs
However, the planned auction failure at the venerable house Sotheby’s recently cast doubt on the link between NFTs, in this case boring apes and crypto punks whose prices are crazy.
As evidence of investors’ sudden distrust of NFTs, Apecoin, a token linked to the Bored Ape Yacht Club NFT collection, has been struggling since it opened in March.
According to CoinGecko, the price of airdropped tokens to Bored Ape NFT owners dropped from $ 39.40 to $ 13.80 in the final check.
Some people wonder what the use of NFT really is.
However, music is an industry where digital collectibles and digital merchandise can find their place, as many are already accustomed to buying merchandise and T-shirts from their favorite stars by artist fans. I think. Therefore, they do not object to buying unique digital products from their favorite artists.
According to blockchain analytics firm Dapp Radar, the NFT market exploded in 2021 and generated over $ 23 billion in transaction volume last year. That total increased from less than $ 100 million in the previous year.
However, the NFT market seems to be losing momentum.
According to NonFungible.com, sales have fallen to tens of millions of dollars since January’s weekly sales reached nearly $ 1 billion.