Celebrities are getting into non-fungible tokens (NFTs) left and right nowadays. Musicians have released NFT albums, artists have taken their skills to the digital realm, and many have gotten their artistic careers lifted off the ground through NFT art. But while many of these artists have stuck to the Ethereum (CCC:ETH-USD) network for their releases, hip hop starlet Doja Cat is taking a different route. It’s through her new NFT release that the Tezos (CCC:XTZ-USD) network is seeing a serious uplift. Now, investors want to see some Tezos price predictions.
The rapper is no stranger to capitalizing on new trends. Most of the singles from her debut studio album Hot Pink ended up as trending sounds on TikTok; legions of Doja Cat fans and TikTok influencers alike have exposed others to the musicians work through her all-encompassing presence on the app. Of course, with the release of her sophomore effort, Planet Her, she continues to flex her pop songwriting muscles and uses it to leverage her social media presence.
Now, she’s getting into the lucrative blockchain business through NFTs. NFT marketplace OneOf is hosting a number of Doja Cat NFTs for fans to buy. Additionally, they come with extra incentives — select buyers can secure Doja Cat concert tickets, and all NFT owners will receive access to an exclusive Doja Cat Discord community.
What’s different about Doja Cat’s NFT venture is that her tokens are available through Tezos, rather than Ethereum. The musician says her decision to release on Tezos comes primarily from the lower energy consumption of the network when compared to Ethereum. As a proof-0f-stake network, there is far less energy needed to conduct transactions than a proof-of-work network like Ethereum needs.
Tezos Price Predictions: Will Doja Cat’s NFT Drop Spur Widespread Interest in Tezos?
The first day of Doja Cat’s Tezos NFT drop saw Tezos’ XTZ crypto appreciate 24%. Today, just four days after the launch, the coin is gaining another 20%. Speculation from Twitter suggest that Cardano (CCC:ADA-USD) and Solana (CCC:SOL-USD) losses are nudging investors toward the Tezos network; the news couples nicely with the hype around the NFT launch.
ADA and SOL are both trading down to the tune of about 10%. But, is Tezos going to continue its upward trend? Let’s take a look at some Tezos price predictions and see where analysts think XTZ is headed:
- WalletInvestor thinks that in a year, Tezos could surpass its all-time high, not seen since May. By September of 2022, the outlet says XTZ will be worth $8.52.
- DigitalCoin is suggesting more rapid appreciation for the coin. By the close of 2021, the site says XTZ could see levels as high as $11.44.
- The Economy Forecast Agency is chalking up a similarly bullish prediction. By the end of the year, the outlet predicts XTZ to be worth up to $12.69.
- CoinPriceForecast’s prediction for the end of the year prices Tezos’ XTZ at a whopping $14.21.
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.