While the short-term market outlook for many NFT projects seems uncertain, and several new releases are struggling to gain traction, a fall with gardening issues may have set some records by selling 8,888 non-expendable tokens (NFTs). in just under an hour.
Zenft non-consumable token studio launched a line of 8,888 unique Bonzai NFT plants that quickly sold out on Tuesday, and the studio sold each digital tree for 0.08 Ether (ETH), or about $ 220 at the time of the publication. Bonsai has augmented reality / virtual reality functionality, and its 3D design is a step forward from previous 2D pixelated projects. The studio celebrated the sale of nearly $ 2,000,000 with a tweet:
8888 Bonsai sold out in less than an hour.
We are eternally humiliated.
– ZΞNFT Garden Society (@zenft_) June 1, 2021
The success is surprising, given that NFTs are still stuck in a recession after explosive growth earlier this year. New releases like Crypteriors are struggling to run out altogether, making the one-hour mark a particular feat.
However, some collectors suspect that the success may be due in part to smart marketing.
“I like the way they look, but it looks like people are trying to recreate what happened to the Bored Apes money printing machine,” said a prominent collector who spoke to Cointelegraph on condition of anonymity. . “I felt a little exhausted to see the space turn into celebrity bombs and discharges.”
Bored Ape Yacht Club, another recent hit in the midst of the market crash, managed to attract a fervent community in part by bringing together prominent investors and collectors in the NFT space, and as one collector said. lectionary, where the whales go, the smaller collectors, or “plankton,” follow (sometimes to their detriment).
hahaha the boring monkeys made me my own habit one day and reminded me of the sale
> I forgot, I didn’t buy any
> Prices have skyrocketed at least 10 times in terms of selling price
– BIG DOG (@MoonOverlord) June 2, 2021
In an interview with Cointelegraph, “8ncient Gardener”, one of Zenft’s three “gardeners” (or developers), said that marketing played an important role: 8ncient “took great care in making our gifts.” , in particular, but ultimately, the quality of the art is what made the bonsai a success.
“I think our art speaks for itself quite honestly. And everyone can come together around a bonsai. We had Apes, Punks, Voxo, Sandbox, Camel, all these NFT factions, all gathered around the bonsai, ”he said. “In a world of pixel art, we made beautiful 3D bonsai.”
GIFT collectible #NFT
To celebrate life, I’m giving away a Bonsai Tree NFT from @zenft_. It also awards an NFT bonsai from @TheSandboxGame.
– Follow @ direkkt✅
– I like this post ✅
A random winner will be announced on Friday at 4 pm UTC. pic.twitter.com/neWRIfp2dl
– Marcus Bläsche (@direkkt) June 2, 2021
The evidence in the chain is a mixed thing. There are currently 1,736 different owners of the nearly 9,000 bonsai, with more than 22% of the supply concentrated in two directions of NFT whales. However, from here, there is a sharp drop, with a wide range of addresses containing smaller amounts of bonsai.
While it is impossible to say the exact source of the success, Zenft’s “Grove Councilor”, “Justsomebonzai”, argued that digital trees are ultimately spreading joy:
“People really like bonsai, they’re beautiful in real life and they’re beautiful like an NFT.”