NFTs NFTs everywhere! With each passing day, the popularity of the NFTs has been exploding. And so, even dead video game companies are trying to cash in as much as possible. It is kind of scary how literally anything is going on sale for hundreds and thousands of dollars. This makes me think that it is probable that once the hype dies away, so will the market. But for now, let’s take a look at what Atari is doing in the NFT market.
Atari NFT sales
The company has very smartly cashed in on the nostalgic arcade games that enthusiasts will actually pay a lot for. Their first sale consists of retro video game titles sold as an entire package. It is called the Atari capsule collection. The package had a total of 110 tokens with 3d models of their game cartridges which sold for over $110,000 worth of Ethereum. This doesn’t stop here; the company is planning future auctions with notably rarer items.
Atari says that they are going to sell in-game scenes from many of its popular titles. And the first quarter that went into the first pong arcade game will also go on sale. These are not arts but just items that one could easily get their hands on from any used items website. Atari also said they are going to sell a digital 3d-model of the Centipede arcade cabinet. All of this allowed them to raise thousands of dollars.
Are we reaching the NFT saturation phase?
When everything is going on sale as NFTs from tweets, to paintings, to digital arts and whatnot, we should ask ourselves, is this the peak of the market, and everything might just go down from here on. Well, it could be, but it is difficult to say. With the price increase of Ethereum, it is evident that the market could see more boost; after all, it’s based mostly on it. Most transactions in the market happen with this cryptocurreny, so its rally is good for NFTs. But still, the industry is in a phase where we cannot predict its future.
The owner of the most expensive art sold as an NFT, Beeple, said that he didn’t trust the NFTs market and cashed in as soon as he got the payment. Well, if that’s the case with him, I don’t know how long before the hype for owning tweets and images will stay.
What are your thoughts on Atari cashing in on the NFT craze? And do you think they are doing a smart job for what matters? Let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.
Also Read: Ethereum hits all-time high while Bitcoin struggles at $59k
