Tesla CEO Elon Musk lately launched a brand new NFT challenge known as “The Memes by 6529”, which features a collection of “Sixteen JPGs” pictures.
In response to the announcement, the reserve worth of the NFT challenge skyrocketed 23% in 24 hours, and the quoted supply worth was 0.0975 ETH. As well as, the challenge’s transaction quantity and variety of transactions elevated by 2045% and 1000%, respectively.
One of many artworks referenced within the challenge, “Sixteen JPGs”, is at present promoting for 1.88 ETH, or round $3,400. “The Memes by 6529” is a multi-season NFT challenge initiated by well-known Web3 influencer Punk6529.
Firstly of every season, artists create visible representations primarily based on challenge cues corresponding to “Free Commerce” or “Open the Metaverse.”
With the current vigorous improvement of NFT, Musk’s involvement on this space is very anticipated. Whereas this is not Musk’s first foray into NFTs, it has garnered quite a lot of consideration within the crypto neighborhood.
As NFTs proceed to develop in recognition, it stays to be seen whether or not “The Memes by 6529” will keep its momentum or face a worth correction.
Nonetheless, with Musk’s backing and the challenge’s distinctive creative imaginative and prescient, it is prone to stay a prime participant within the NFT house for the foreseeable future.
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