There are dark times, between war and inflation, but it is in moments like these that it is worth trying new paths, such as that of non-fungible tokens (Nft). These are tools designed for certify the rarity of a digital good, whether it's an artwork, a video or even a tweet. Anything as long as it is based on blockchains, digital equivalent of a transaction log, used for the generation of cryptocurrencies such as Bitcoins. A difficult market, in which the common investor, beyond the figures at stake, does not have the elements to compete.
eToro and non-fungible tokens
But this is where it comes into play eToro, an international network of investors with 27 million members, which aims to disseminate and share investment strategies that have proved to be successful. The idea, in this case, is to invest a fair amount, ie 20 million dollarsto enter the market buying quality NFTs and financing the most promising creatives. In short, what the bankers of the Renaissance or the gallery owners of the Belle Epoque did in their time by financing the new artists. Says CEO Yoni Assia: “We see huge potential in the metaverse and in a range of new digital assets. Our eToro.art program is about bringing together creators and investors through technology, uniting communities around art.”
The "Bored Monkey" and more
For the debut and Toro did things big. Today he kicks off at the Bass Museum of Miami the presentation of the collection that includes already legendary projects such as Bored Ape Yacht Club, Cryptopunks, world of women, and projects by emerging artists. It's not just any date. Just a year ago the club of “Bored Monkey”, a milestone in the short history of virtual art. A pool of creatives, under the Yoga Club label, has created a collection of cartoon monkeys generated by an algorithm which, based on 170 randomly combined characteristics, has given life to 10 original pieces, called "tokens". ”, one different from the other, collected in a blockchain on Ethereum. An art project developed by various freelance artists who worked on the basic character, a chimpanzee with a bored and unkempt look, a bit like the headquarters of the club where the company meets.
Record-breaking prices
A year later, this "four friends at the bar" initiative resulted in a resounding commercial success. The 10 unique pieces are sought after by Hollywood stars such as Gwyneth Paltrow and rap stars, like Eminem, and they achieved record prices. Suffice it to say Neymar, the Brazilian PSG ace, paid one million dollars for two to own two tokens. And in a memorable Sotheby's auction in September, a lot of 101 Monkeys was awarded for 25 million dollars.
The bathrooms of the Bored Ape Yacht Club
All tokens grant one privilege: the avatar has free access to the toilets of the Bored Ape Yacht Club, where the member can vent to write trashy rants on the wall of the toilet as in any self-respecting station latrine. For 15 minutes only, though. In short, within a year the Bored Ape have become a cultural symbol in the Metaverse space, with a considerable turnover and a strong political presence, as evidenced by the one million dollar check paid on March 9th by the club in favor of Ukraine.
Non-fungible tokens and speculation
But in reality, despite the financial success of the operation (but there were some flops) the irruption of NFTs on the contemporary art market it basically had the effect of a real one speculative tornado. On March 11, 2021 Mike Winklemann, stage name Beeple, upset the charts by selling for 69 million dollars a "digital collage", made up of drawings and animations created daily for 5 days in a row, all connected to a blockchain. A madness? Perhaps, but also a new way of investing that has attracted stars of entertainment and sports as well as the greats of Wall Street. All on the hunt for tokens whose value is linked to a certificate of ownership.
