Admit it: There’s a healthy amount of elitism in the crypto space. The technical jargon in the sector leads to an awfully large amount of arrogant intellectualism, and social media can be a battleground between crypto camps over which project is better. But if there’s one particular space within the digital currency sector that asks “Why so serious?,” it’s that of non-fungible tokens (NFTs). NFTs have allowed the crypto space to lighten up a little, with some of the goofiest and ridiculous digital artifacts seeing thousands — if not millions — of dollars thrown at them. Now, Internet Computer (CCC:ICP-USD) is joining in on the fun, and Internet Computer (ICP) crypto fans are clamoring for the network’s first NFTs.
Internet Computer is said to be the next major wave in the crypto space, offering the first network to run at web speeds. The network’s initial coin offering (ICO) saw the crypto sell for over $730 per coin, but the market-wide correction, coupled with cooling sentiment around ICP shortly after its launch, allowed the coin to plummet in value. Dropping over $700 dollars in just a month’s time, the coin hit an all-time low of $20 in May. Since then, it has tripled in value, but it still has a very long way to go.
ICP bulls have reason to cheer today though, because a new catalyst is coming to help bolster the crypto’s value. Tomorrow will see the first NFT drop on the network in the form of “ICPunks.” ICPunks is a series of 10,000 unique clown NFTs; the concept is a play on a meme relating Internet Computer to the Insane Clown Posse, a clown-makeup-wearing hip hop duo that also goes by ICP.
The Internet Computer (ICP) Crypto Looks to Cash in on Revamped NFT Craze
This NFT drop comes at a very good time for the network. NFTs have seen a large resurgence in popularity, with some of the most expensive NFT sales ever taking place in the last few weeks. In fact, an anonymous buyer just purchased an NFT of an ordinary rock for $1.3 million.
These ICPunk NFTs will be free; users simply have to link their wallets on the ICPunk website in order to receive their clown. However, some are more rare than others, and the value of the project will really come to light as investors seek to exchange their clowns or sell them for profit. They will be able to do this on the network’s NFT marketplace, launching in Q3 of 2021. The NFT launch has also allowed the network to announce that by Q1 of 2022, there will be support for moving NFTs from other chains onto the ICP network.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
