Big Brands Jumping into NFT’s. Is This The Turning Point to Millions of NFT Collectors?
Posted On March 26, 2020
In the last couple of weeks I’ve heard of some larger brands going virtual.
Square Enix, (The guys behind the Final Fantasy Series).
Let’s explore what this means for the NFT industry.
How Big is the NFT industry?
Crypto Market Cap: $185 Billion
NFT Market Cap: $250M
That’s right, the larger Crypto Industry, (which is ALSO in its infancy), is 740x BIGGER than the current NFT Market.
We have HUGE growth potential within the crypto industry itself let alone those outside of crypto.
This graph below shows the current NFT market cap growth year by year. By nonfungible.com
According to this report by Cointelegraph, Atari seem to be releasing two new tokens, Atari and Pong Token.
They’ll be running an ICO for these aimed at running a Crypto Casino. (wtf).
I wouldn’t have expected that to be their first experiment with Crypto.
Atari will be partnering with the ICICB Group to assist in a public sale by September 30, 2020,
““In partnership with the ICICB Group in successive steps through private placements starting as early as March 2020 with a public sale by September 30, 2020. Atari is also working on the liquidity of the Atari Token by facilitating the registration of this token on the main exchange platforms. The terms of the Atari Token will be announced at the time of the launch, the Atari Group being entitled to 35% of the proceeds from the sale of the Atari Token.””
There seems to be some serious interest from Atari to increase their involvement in Crypto if things work out.
“The area of blockchain and crypto-currencies is of significant interest to us, especially in the domains of the video game industry and of online payments,” – Frédéric Chesnais, CEO of Atari”
Formula 1 have already been involved with their F1 Delta game that has had some decent volume enter their presales.
Including their 1-1-1 car, very first virtual car that sold for 415.9 ETH at auction. US$106,428.
That’s pretty big!
Anyway, I’m more interested in their recent Virual Grand Prix race they held with REAL F1 Drivers actually behind the wheel…I mean controller.
1.6Million people watched F1 drivers, esports stars and global sports stars VS each other via a Virtual Race off.
Pretty damn cool.
Many real world companies are figuring out how to provide and continue for their user base in a virtual way due to the Corona Virus.
They have no choice to adapt and F1 have done well to set this up and provide entertainment for their fans.
I think these are gateways for people to be exposed to ‘the world going virtual’ and virtual currencies/assets.
You’d be living under a rock if you don’t know who these guys are,
The company behind Final Fantasy and many other great titles.
“Between July 9 and Sept. 19, TSG raised $2.01 million consisting of 83% cash and 17% in digital assets, namely SAND tokens and simple agreement for future equity notes. Investors included Square Enix, B Cryptos, Mindfulness Capital, and True Global Ventures.” – source
The Sandbox is a game on the Blockchain similar to Minecraft but you will be able to own land, digitize your creations and participate in a marketplace which should incentivize creators to continue building cool games and experience on the platform.
It’s good to see these larger companies get involved and it means they’re paying attention.
In my opinions the tech isn’t ready yet to onboard a large user base so in terms of NFT’s, we still have 2-3 years till we can really start enabling easy on-boarding, fluid gameplay and the blockchain, etc.