Who Said NFT Sales Are Declining? - Affyn NFT Collection Sells Out in Two Minutes

What is Happening?

Affyn, a Singapore-based blockchain startup, sold the entire collection of “Generation Zero Buddies” non-fungible tokens (NFTs) within 100 seconds. The collection moved up to the number two spot in the rankings of the top Polygon NFTs on OpenSea.

The record sale of Affyn and monthly sales of NFTs accounted for around $1bn (£830m) in June. The crypto research company Chainalysis indicates interest in NFTs is alive and thriving. The set of 400 Gen 0 NFTs, referred to as “Buddies,” is the first set to enter Affyn’s NEXUS World metaverse.

Tokens that represent characters in the NEXUS virtual world are collectible units, they have features and properties that distinguish them from others.

Affyn’s “Buddies” are interoperable across metaverses and blockchain games on Ethereum and Polygon, in contrast to current NFTs with limited accessibility. The original set of NFTs, most recently sold for 2,995 FYN tokens each, are  rare by design, and their scarcity is classified as “Mythical.” Buddies by Affyn were in great demand because of their distinctive design, practicality, and scarcity.

https://twitter.com/AffynOfficial/status/1544710020763451392?cxt=HHwWgIC8yYzl9O8qAAAA

What Is Affyn?

Affyn is a Singapore-based firm that creates smartphone games with built-in geolocation and augmented reality functionality utilizing blockchain technology with a viable play-and-earn economy that allows prizes gained in the virtual world to be used in the real world. In the virtual world being developed by Affyn, the NEXUS land is a digital depiction of real estate mapped according to the actual world.

A hexagon represents each country. NEXUS allows landowners to erect buildings on their property. Digital representations of property exist in the virtual world through these structures. These structures are available for purchase in the marketplaces and have their attributes.

Building the Virtual Experience in the Metaverse with NFTs

Players in Affyn and Aavegotchi, for instance, are rewarded with virtual goods like NFTs and in-game cryptocurrencies, which may be exchanged, sold, or borrowed. Further, the release of automobile components as NFTs from other games, such as Battle Racer, significantly enhances the usability of NFTs by providing an experience that users can cherish and hold on to.

Even though a real immersive experience is a few years away, NFTs may be used for skins and aesthetics in more popular games like Fortnite. In addition to helping players better represent the ownership and uniqueness of their goods, this raises worldwide in-game expenditure, which is expected to reach $74.4 billion by 2025, according to current estimates.

Further, NFTs aid the metaverse by modifying and providing new features to virtual objects and real-life experiences as NFTs can be used for passes, virtual events, parties, and concerts held in many metaverses. For example, Rapper and entrepreneur Snoop Dog, a staunch supporter of NFT, teamed up with The Sandbox to throw a party in September 2021.

Access to Snoop Dogg's private lifestyle, unique NFTs, events, and an opportunity to have Snoop Dogg play its exclusive performance on their land was all part of the Snoop Private Party Pass, which was launched in 2012. These are a few examples of how NFTs merge virtual and real-world experiences together.

Meta is Testing NFTs Integration - A Win for the Crypto Industry

It's impossible to find a quicker or more efficient method to market NFTs to the art community without the use of social media. Social media makes it easy to sell NFTs put them up on auction or publicize a sale to attract investors. Digital art has blossomed and increased in popularity due to social media, where a number of artists have large or at least significant social media followings. In the same manner that advertising links a customer to a brand, social media platforms serve as a connecting point between a purchaser and a seller of NFTs.

Polygon and Ethereum-based non-fungible tokens (NFTs) are being tested on Facebook by Meta's Product Manager Navdeep Singh, working with a small group of developers who are set to change the NFT industry in the long run.

https://twitter.com/navdeep_ua/status/1542291276883582979

Meta tested NFT integrations on Instagram in May, its initial step into NFTs. This new version features a "digital collectibles" option that lets Facebook users display their NFT collection on their profile pages. Integrating NFTs with social media mechanics will make it easy for artists to market NFTs and develop a blooming NFT economy on Facebook, Instagram, and Twitter.

Final Thoughts

Affyn selling out its NFT collection and building a Play-2-Earn game with in-game mechanics convey a continued interest in NFT sales and projects. The integration of Meta with NFTs will provide users with a memorable experience when interacting with their NFTs. The future of NFTs is built on the foundation of providing unique experiences to users.

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Image credits: Minh Pham, Arthur Mazi, and Rodion Kutsaev.