Cryptocurrency has been around for a while and is gradually gaining acceptance, albeit with a few hiccups along the way. However, the year 2021 will be remembered for the sudden boom in the world of non-fungible tokens (NFTs) and the metaverse.
While one of the biggest news in the crypto world has been El Salvador’s monumental decision to make Bitcoin legal tender, Facebook’s metaverse rebranding and Argentine football legend Lionel Messi launching ‘Messiverse’ have also made the headlines.
2021 can surely be crowned as the year of the NFT – a tradable digital asset whose ownership is stored on the blockchain, similar to that of cryptocurrency.
A look at the biggest news of 2021 on crypto, NFT, digital real estate and the metaverse
Beeple’s record-breaking work
American artist Beeple, real name Mike Winkelmann, had one of his works titled Daily – The first 5,000 days, sold at Christie’s auction for a record $ 69 million.
In a March 11 tweet, the auction house said that the prize money won for the collage of 5,000 individual images taken one per day for more than 13 years made Beeple one of the three most valuable living artists.
It was later revealed that the buyer of the artwork was an Indian cryptocurrency investor named Vignesh Sundaresan, who called himself Metakovan.
House on Mars
Mars House (2020) by Krista Kim on Vimeo.
Toronto-based artist Krista Kim designed a virtual house on the Red Planet and symbolized it as NFT. the House of Mars, as it is called, was sold for over $ 500,000 as crypto-real estate in late March.
The virtual house has floor to ceiling windows, which gives a breathtaking view of the Martian red surface. It also has garden furniture but no kitchen. The “inhabitants” can however take a shower.
Even the deed of ownership was in virtual form.
Launch of the Bored Ape Yacht Club
A collection of 10,000 computer-generated monkeys was released on April 30 and quickly became one of the greatest NFT follies of all time.
The collection was sold out within a day. Later, four of the “monkeys” in the collection were auctioned with NFTs by CryptoPunks and Meebits for $ 12 million by Christie’s. Sotheby’s auction house also sold an NFT monkey for $ 3.4 million, the highest for a single Bored Ape.
His famous collectors include NBA star Steph Curry, musician The Chainsmokers, singer-songwriter Post Malone, record producer Jermaine Dupri and TV show host Jimmy Fallon.
Lionel Messi launches the Messiverse
Footballer Lionel Messi took the world of sports and NFTs by storm earlier in 2021 when he announced his collection known as The Messiverse.
Showcasing four unique digital artworks by legendary Argentinian footballer, The Messiverse was created by digital designer BossLogic in collaboration with the Ethernity Chain platform.
The four NFT tracks were titled, Gold, The man of tomorrow, Man of the past and The king’s coin. Each showed Messi posing. A fifth, entitled The magician, designed by Impossible Brief was later revealed.
The collection was launched in August. Record-breaking seven Ballon d’Or winner Messi is considered by many to be the greatest footballer in history.
El Salvador gives Bitcoin legal tender
Bitcoin, the oldest cryptocurrency, became legal tender in El Salvador on September 7.
Speaking in favor of the cryptocurrency ahead of the decision, El Salvador President Nayib Bukele said it would help those in the country who do not have access to “traditional financial services.” He also said it would encourage investment and remittances from Salvadoran expatriates.
It was also revealed that the government of El Salvador held 550 Bitcoin worth around $ 26 million at the time.
Facebook announces a metaverse
On October 28, Facebook CEO Mark Zuckerberg announced that the company was renaming itself Meta Platforms Inc., or Meta.
In a 77-minute video posted to Facebook and YouTube, Zuckerberg showed the world what his company is aiming for in the near future. Millions of people have seen how Facebook moves right into the metaverse, with everything virtual, including houses and plants.
“The defining quality of the metaverse will be a sense of presence – like you’re there with another person or in another place,” Zuckerberg wrote in the founder’s letter.
Facebook’s move gave the concept of the metaverse a boost and brought it into the mainstream. Although the idea of a metaverse has been around for over three decades, it is only now, with many advancements in technology, that the concept is gradually coming to fruition.
Besides Facebook, Microsoft has its own metaverse plan called Mesh. Older metaverse players include Roblox and Fortnite.
Amitabh Bachchan sells NFTs for $ 966,000
One of Bollywood’s most famous actors, Amitabh Bachchan, was the biggest Indian name making the news in the NFT universe.
At the beginning of November, a collection, featuring the poem of his father Harivansh Rai Bachchan Madhushala and several old posters of the star, have been auctioned. The collection was reportedly sold for 966,000 USD.
While the poem is one of his father’s best works, movie posters include Sholay (1975), which is among Amitabh Bachchan’s most critically and commercially acclaimed films.
Squid game cryptocurrency ‘scam’
Korean drama, Squid game, was one of the most watched shows on Netflix this year. The series is about several dangerous games that 456 hapless contestants are forced to play in order to recover from their dire financial situation.
So when Squid game crypto was launched on the PancakeSwap market on October 26th, it generated quite a buzz. It launched at $ 0.012 and climbed quickly over the next few days. But signs of trouble became apparent, when many said they couldn’t resell their tokens.
On November 2, the crypto crashed and investor money was wiped out indicating it was a scam.
Givenchy launches the NFT art collection
The French luxury brand launched on November 23 an NFT collection, made up of 15 unique works of art. The collection marked a collaboration between Givenchy and airbrush artist Chito.
Works of art ranged from those bearing the Givenchy logo to animated characters and symbols.
“NFT” becomes the word of the year
Collins Dictionary named “NFT” as its word of the year for 2021. The dictionary defined NFT as a “unique digital certificate, stored in a blockchain, which is used to record ownership of an asset such as a work. of art or a collector’s item “.
In a second definition, the lexicon describes the NFT as an “asset whose ownership is registered by means of a non-fungible token”.
Among the first 10 words announced on November 24, two were related to blockchain technology: “crypto” and “metaverse”. The others were cheugy, climatic anxiety, double vaxxed, hybrid work, neopronom, pingdemic, and Regencycore.
The yacht becomes the most expensive NFT sold in The Sandbox
On November 24, a mega yacht was sold for $ 650,000 on The Sandbox – a virtual game world, which is part of the metaverse.
The boat labeled “Metaflower Super Mega Yacht” is as lavish as any real world superyacht billionaire.
Congratulations to the new owner of The Metaflower NFT Super Mega Yacht for making history for the NFT Metaverse. This auction marks the highest price paid for a @TheSandboxGame NFT asset at 149 ETH ($ 650,000) and an exciting time for every member of the Fantasy community. pic.twitter.com/Nl0278JbOT
– Kingdom of the Republic (@joinrepublic_re) November 24, 2021
The three-story yacht has two helipads, hot tubs, a DJ booth, and several lounges, among other amenities. It is designed for those who wish to experience luxury in “virtual” life.
The Sandbox is a virtual universe existing on the Ethereum blockchain.
Decentraland sees largest land acquisition in the metaverse
NFT-based virtual real estate company named Metaverse Group reportedly bought virtual land on Decentraland for $ 2.43 million, reported New York Post November 25.
Decentraland is built on the Ethereum blockchain and allows people to buy and sell virtual plots of land. Once a land is purchased, the owner can create a virtual micro-world complete with items such as trees, buildings, and airplanes.
Decentraland’s “land” comes in the form of NFTs, which can be traded using the cryptocurrency known as MANA.
Barbados will be the first country with an embassy in the Decentraland, which will open in January 2022.
Quentin Tarantino announces his entry into the NFT with pulp Fiction
Tarantino is one of cinema’s most acclaimed directors, and his 1994 film pulp Fiction is one of his best works.
In November, the American filmmaker announced that he would be releasing seven uncut scenes from the film in NFT. However, he did not reveal any details of the scenes that will be part of the collection.
But Tarantino ran into trouble when Miramax, the film’s producer, filed a lawsuit the same month, demanding an end to any planned sale of the film’s NFTs and accusing the director of copyright and trademark infringement. of the society.
pulp Fiction follows an assortment of characters, two of whom are contract killers, whose paths intersect in scenes fueled by violence. The film stars Uma Thurman, John Travolta, Samuel L. Jackson, Bruce Willis, Tim Roth, Amanda Plummer, Ving Rhames and Harvey Keitel in key roles.
In 1995, it won the Oscar for best screenplay, a screenplay written directly for the screen for Quentin Tarantino and Roger Avary.
Melania Trump debuts at NFT with Mélanie’s vision
The former U.S. first lady announced on December 17 the launch of a new company called the Melania Trump NFT platform.
The first NFT launched by the platform is Mélanie’s vision, a watercolor by Marc-Antoine Coulon. His office said in a statement that more NFTs will be published on the platform in the future.
Part of the proceeds will be used to support aging children outside foster homes, the statement added.
Hero Image: XR Expo / @ xrexpo / Unsplash; Featured Image: Jievani Weerasinghe / @ jievani / Unsplash