Media
EverdreamSoft will launch an unique collection of NFTs using illustrations that were originally used on some of the first NFTs ever: the Spells of Genesis blockchain cards. These collectible NFTs will be very limited edition, carry historic value, and represent an important moment, event or project from blockchain history.
The action puzzle game Spells of Genesis was the first mobile game that implemented blockchain-technology. In 2015 they issued one of the first tokenized collectibles that could be used in their game. Two years later gamers could upgrade their in-game cards to ultimately mint them as a tokenized digital asset on the Bitcoin blockchain, using the Counterparty protocol.
On Counterparty certain token collections became quite popular, like for example the Rare Pepe collection. All this happened quite some time before the current ERC-721 NFT standard was introduced on the Ethereum blockchain. Cards on Counterparty can still be used in Spells of Genesis, as players need to import their wallet in the Casa Tookan Wallet, and then link that to the game itself.
These playable cards depict moments from the history of the blockchain. There are cards inspired by Dogecoin, Ethereum, the rise of DAOs, the Mount Gox hack, and the SHAPESHIFT exchange. Some of these artworks are now being reissued in a limited series of prints. Depending on the artwork there will be between 2 and 15 numbered prints. Yes, these NFTs can also be used inside the game.
Starting from May 3rd DappRadar will launch a competition where our readers can win one of these very exclusive NFT prizes. Keep your eyes on our blog and social media channels for more information!
The year NFTs broke through
In June 2017 Larva Labs released their generative CryptoPunks collectibles. These are now generally considered the first NFTs on the Ethereum blockchain. Their story is significant for the NFT space overall, because these pixelated characters are the very first NFTs on Ethereum. From that perspective it’s no surprise that these collectibles now change hands with valuation over $50,000.
However, these punks didn’t use a token standard. A few months later Dapper Labs released the ERC-721 token standard for Ethereum, and with it their first collectible game Cryptokitties. Eager cryptocurrency enthusiasts who could finally spend their fortunes on something, jumped in. They started breeding digital cats. Quickly the news hit mainstream media and collectors were trading digital pictures of cats for hundreds of thousands of dollars. It was the first time NFTs were mentioned in mainstream media, even though everybody just talked about ‘digital cats’. The bull run quickly ended in the following year.
What followed, was a bear market during which token prices dropped approximately 85% across the entire industry. For many projects this bear market was the end of their story, but some persevered and got out stronger. Projects and individual developers that managed their funds wisely, were able to build three years long. In the shadows they kept building, resulting in several significant product releases in 2020, including the virtual world Decentraland, the NBA Top Shot collectibles and the NFT marketplace Rarible.
More than just art
Forward to 2021 and now NFTs are the talk of town. Every celebrity wants to sell an NFT, and every meme creator launched their own NFT as well. However, no matter how beautiful art is, NFTs can be much more than that. Non-fungible tokens can be virtual real-estate, items in a game world, tickets to virtual and physical events, or even give the owner a percentage of a yield generating liquidity pool.
In the case of the new Spells of Genesis NFTs, these digital collectibles carry historical significance, while also being usable in the game itself. Beautiful as they are, NFTs are more than art alone. Don’t forget, Monday May 3rd DappRadar will have a competition where you can win rare Spells of Genesis NFTs!