The Nightly Mint: Daily NFT Recap
It’s the last coin of the week before we head into the almighty weekend. NFTs are closing strongly in today’s headlines as Yuga Labs makes a massive acquisition and the entertainment industry continues to embrace NFTs.
It’s another bite-sized report to keep you up to date on all things NFT today. Let’s jump in.
The Nightly Coin
Latest Mint: Bored Apes Meet CryptoPunks & Meebits in Massive NFT Acquisition
If you can’t beat them, join them. Yuga Labs, the makers of Bored Ape Yacht Club, are bringing under their wing two of the largest NFT projects the space has seen in history — CryptoPunks and Meebits — according to an announcement today. The acquisition of Punks and Meebits comes from their original creator, Larva Labs, with undisclosed terms.
The move solidifies Yuga as a powerful player in the NFT space, with arguably the three largest serialized NFT projects the space has seen to date.
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Growing NFT projects are constantly looking for Ethereum alternatives, but some of the biggest projects — some of which are consolidating today — are still Ethereum-based. † Source: ETH USD on TradingView.com
More music madness, courtesy of AEG & signature
In yesterday’s Mint we talked about crypto exchange FTX in partnership with mass music festival Tomorrowland. More big entertainment news has come out today as a live performance and venue management company AEG announced they have signed a multi-year deal with growing NFT platform Autograph. The collaboration kicks off in two weeks at the BUKU Music + Art Project festival in New Orleans; AEG and Live Nation dominate the live performance industry, making today’s move a major milestone for NFT integration at live events.
The ‘Minty Fresh’ Take
Acquisitions like today’s move with Yuga Labs are likely to be reflected as major milestones in the broader growth of the NFT market in the coming years. What does the future hold for NFT consolidation?
The coming years in NFTs will be an interesting split in the market. There will be mergers and acquisitions on the more centralized side around the IP of brands/startups and then there will also be a traditional, decentralized side with strong supporters.
— djohnson.eth (@DJohnson_CPA) March 12, 2022
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Featured Image from Pexels, Charts from TradingView.com The author of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.