NFT.NYC Soars Amid Harsh Markets
The NFT.NYC event came at a presumptuous time when the market has been steadily dropping since the end of April 2022.
While many big-name projects were scheduled to appear at the event, emotions stemming from the current status of finances in the United States loomed heavily over the crowd.
Yet, this sense of uncertainty did not stop many project teams from making some exciting new announcements.
Doodles aren’t Dead
Doodles, one of the strongest NFT projects on the Ethereum network, has declined over the past couple of months. Although the collection is still in demand because of its stylish artwork, doubts have arisen about the project’s benefits to holders.
As 2022 has progressed, there’s been a strong emphasis on NFTs that provide utilities or features for token holders. However, the Doodles collection has not pushed these concepts very far, causing the collection value to drop slowly.
When the time came for the team to speak at NFT.NYC, many wanted to know what the next step for the project would be.
The team began with basic information about the project and how well they’ve done over the past year. They also said how they wanted to continue developing themselves as a brand.
Things began to accelerate more when the team announced that they had been working on Doodles 2, a new project which would be animated and likely is associated with the Dooplicator collection that is already available.
As for the brand itself? Well, the team announced Pharell Williams as their new brand ambassador to help promote the project. Similar to Eminem and Snoop Dogg’s endorsement with Bored Ape Yacht Club, this celebrity endorsement has the potential to go far. With hit songs such as Happy and Get Lucky, Pharrell Williams is no stranger to the spotlight and brings along huge audiences.
Apefest launches new products amidst controversy
At the beginning of NFT.NYC, a new video went viral on Youtube claiming that the Bored Ape Yacht Club was an inherently racist project created by a group of internet trolls from 4chan.
While the truth of this accusation is still up for debate, the video was posted only a day before Apefest was scheduled to begin.
As for the event itself, Yuga Labs announced a new Mega Mutant Ape that would be coming soon. The video of the announcement was brief but generated strong excitement.
They also said that they would be working in partnership with Rolling Stone magazine for a new collaboration coming soon.
We can only assume how this will tie into their Otherverse.
Generative Art has its moment
Lost in all the excitement, were a couple of different showings for Generative art. This genre of NFTs features an entirely different community which lacks the wild, degenerate attitude that most have associated with NFT traders.
Instead, we saw art pieces like Petro National by John Gerrard make a bold statement on climate change and the impact humans are having on our ecosystems. Each piece depicted a different body of water with oil floating on top.
The collection began minting on the same day it was shown and was fully minted by the day's end, showing that there are collections aimed at a more high-brow audience available on the blockchain.
The tokens were not cheap either. Minting began at 1.5 Eth and held a floor price above 4 Eth by the end of the week. The 196 item collection currently sits at a floor price of around 3 Eth, at the time of this writing.
VIP Access for Token Holders
The biggest excitement of the weeklong event came during the numerous parties. These wild events allowed many project teams to meet with their communities in real life as opposed to the computer screens where the majority of their interactions had been held before.
One example was the ChampsOnly team who was able to reserve a special spot on a yacht hosted by Magic Eden that sailed around the Statue of Liberty. Here, many of the ChampsPass holders were able to meet the team whom they had been interacting with since the pass was released earlier this year.
The Goblintown.wtf also held their own party in a club with a McGoblinBurger food truck parked outside. Inside was a huge party with Steve Aoki as a surprise DJ.
Was NFT.NYC a Success?
Although this was the 4th annual NFT.NYC event has never gained as much attention as it did this time. Following a year of wild profits and losses, the projects that came to the event represented some of the best collections available.
It was a marquee event with guest speakers from around the entire space with celebrities, influencers, and community members all gathered together to celebrate NFTs at a time when the market couldn’t look any worse.
While market conditions are expected to remain harsh for quite some time, the fact that the communities that have grown from these projects are alive and active is a telling sign that NFTs are in no real threat of disappearing.
