NFT market cap hits $23.000 billion as Fox Entertainment announces the launch of a new animated series that will feature its own NFT marketplace.
The NFT, non-fungible tokens which sparked mass interest earlier this year have just surpassed $23.000 billion in market capitalization, according to figures from Coingecko.
The data provider shows that the NFT market has appreciated exponentially since the beginning of the year, being Theta Network the platform that dominates the NFT market currently, with over $9.900 billion in market cap. NFT platforms following Theta are Chiliz y Enjin, with market capitalizations exceeding $2.280 billion and $1.790 billion, respectively.
Source: CoinGecko
Similarly, CoinGecko data shows that the daily trading volume of these exchanges has surpassed $2.440 billion at the time of writing.
All this happens at the same time that Fox Entertainment, one of the largest corporations in the entertainment industry in the United States, announces the launch of a new animated series, called Krapopolis, which will allow its viewers and fans to participate in its own non-fungible token market, where they will be able to acquire and trade NFTs that represent the characters of the series and other tokenized goods related to Krapopolis.
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The success of NFTs in the digital industry
According to CoinGecko data, there are currently more than 180 NFT platforms in the crypto industry, which have seen significant growth in the last 5 months.
NFTs sparked a heated frenzy in the crypto industry, causing investors and collectors to pay real fortunes to own an NFT, whether it was digital art, a collectible, a piece of music, among others.
In fact, the most significant individual sales in the NFT market have been from the Cryptopunks, characters designed by Larva Labs, which were given to people with wallets of Ethereum who would like to claim one of them. CryptoPunks are one of the first NFTs to be successfully launched in the crypto industry, and due to their scarcity – there are only 10.000 unique characters in this project – they are now valued at several thousand dollars.
Source: Nonfungible
Digital artworks have also seen successful sales in the NFT market, the largest of which is the collection “Everydays: the First 5000 Days” Beeple's work, sold at Christies auction house for $69 million. The musical artist 3LAU He also sold his vinyl collection Ultraviolet as NFTs, for more than $11 million. Even the CEO of Twitter and Square, Jack Dorsey, sold his first message posted on the social network as a non-fungible token, for almost $3 million.
Krapopolis, from the creators of Rick and Morty
The new animated series to be released by Fox was designed by one of the creators of “Rick and Morty,” Dan Harmon. According to reported Hollywood Reporter, Krapopolis is an animated comedy set in mythical Ancient Greece that will break new technological ground.
In addition to the series, Fox is also opening a new company, called Blockchain Creative Labs, to delve into the world of technology. blockchain and NFTs. Fox’s vision, the outlet reported, is to bring advertisers into the world of blockchain-powered tokens, including NFTs.
Fox CEO, Charlie Collier, stated that the company will be promoting Dan Harmon’s new series, which will be “the first animated series curated entirely on blockchain.” In addition to this, Fox Entertainment will also help other creators’ brands connect directly with their audience of fans and enthusiasts, opening the doors to innovation through NFTs.
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