An NFT bubble occurs when the price for digital assets increases as the result of increased speculation among investors. Find out more about it here.

) are increasingly popular among both crypto investors and artists. Each NFT asset is completely unique, which is what creates its value. Just as with any market, however, it's possible for a bubble to form when prices become so inflated that buyers can no longer justify their purchases. When this occurs, prices can drop substantially in a short period of time as the result of insufficient numbers of buyers and a surplus of sellers. In this guide, you'll learn everything you need to know about an NFT bubble — and whether it’s already burst.

An NFT is a cryptographic asset that's positioned on a blockchain, consisting of distinct metadata and identification codes. Every NFT that's minted is thus unique, which gives the asset its value.

An NFT can't be exchanged or traded for any equivalent NFT. In comparison, cryptocurrencies and other fungible tokens can be traded for one another and used in commercial transactions. NFTs typically represent artwork,

 enables them to be traded, bought and sold efficiently. Prices for most NFT collections were at their highest in early 2021. Though prices have since dropped — after the initial surge spurred by 

 and similar NFT collections — the NFT market is still relatively healthy.

An NFT bubble occurs when the price for digital assets increases as the result of increased speculation among investors. If NFT values increase too quickly, their prices will likely crash following the initial hype.

It's common for NFT bubbles to take place when newer investors enter the market. Typically, investors will drive prices up based solely on hype, because they don’t have a thorough understanding of what they’re investing in. 

An example of a small NFT bubble took place in January 2022, when a computer science student 

, then the largest NFT marketplace. Initially listed at $3, each NFT peaked at $1,200 (the equivalent of 0.4 

 at the time), resulting in earnings of $1 million for the enterprising young man. 

Another example occurred in March 2021, when Sina Estavi, the CEO of Bridge Oracle, purchased an NFT of Jack Dorsey's first tweet. The Wall Street Journal reported that 

 for the NFT, and that he tried selling it on OpenSea for $48 million. However, most of the bids he received were in the hundreds.

As the NFTs had no utility at all, yet increased in value at such a rapid rate, this begs the question: Were these NFT bubbles? They were.

There are several signs that indicate an NFT bubble is bursting. Buying NFTs — or any type of cryptocurrency — can be risky, which is why it's highly recommended that you know the signs. The main ones to look out for include everything from NFT prices falling drastically or reduced volume, to subsiding media coverage surrounding NFT sales and the overall NFT market.

When NFT prices have begun to fall by a considerable amount, it’s the first sign that an NFT bubble is getting ready to burst. Since NFT prices tend to fluctuate, it’s wise to be cautious when you notice them dropping throughout an already highly volatile market. In addition, an NFT bubble doesn't automatically burst when prices drop; it could be a more prolonged process.

Among the most important indicators of the NFT market’s health is its daily trading volume. When trading volume drops for a lengthy period of time, it's possible that the NFT bubble is about to burst.

If people are starting to place their NFT collections on the market for sale, it may indicate a scenario where there are too many sellers and not enough buyers. In this case, it's likely that the NFT bubble will burst since there's nothing to keep their prices from decreasing.

Another sign that the NFT bubble is about to burst involves reduced NFT media coverage. When there’s plenty of news about the most popular NFT collections and sales, NFT prices are generally increasing. If media coverage begins to slacken, it’s probably a sign that the NFT bubble is getting ready to burst.

Since the peak of NFT prices in May 2022, OpenSea’s NFT market has 

, which means that the NFT bubble has burst. Keep in mind that OpenSea is 

, which is why performance on this market matters to the broader NFT industry. During May 2022, OpenSea processed more than $2.7 billion NFT transactions. At the end of August 2022, trading volume for NFT sales had dropped all the way to $9.34 million.

It's believed that the drop in NFT values is tied to the 

. However, some cryptocurrencies have begun to rebound — which might be what will happen with NFTs. While there are too many sellers and not enough buyers at the moment, the NFT market could become more balanced in coming months. Even though it's likely that the NFT bubble has burst, this doesn’t mean that prices won't increase. 

 is another popular collection of digital assets that was made available in June 2017. Developed by Matt Hall and John Watkinson, this collection consists of 10,000 unique characters that were minted for free. While the collection didn't immediately gain any traction after launch, all of the NFts quickly sold out. At the beginning, they were being sold for just a few dollars. Now, CryptoPunks NFTs are worth thousands of dollars apiece.

While the NFT market was relatively popular for several years, it wasn't until 2021 that the market exploded. During 2021, the trading volume for the year 

, which marked a 21,000% increase over the previous year.

The Bored Ape Yacht Club collection was among the most popular collections when it was released in April 2021. Its popularity was also boosted by celebrities such as Paris Hilton and Snoop Dogg when they purchased a Bored Ape NFT each. A more recent NFT collection, 

, is represented by 10,000 NFTs minted in late April 2022 at 1.5 SOL each; the floor price is 

NFT prices were steadily rising from 2021 until January 2022, when NFT sales on OpenSea were well over $4 billion in total value, their highest monthly trading volume to date. However, sales began to decrease shortly thereafter, and in February the trading volume dropped to around $3.75 billion. In March, the trading volume fell even further to $2.25 billion.

While these declines were relatively steady in the few months following January, prices throughout most of the market dropped sharply in May for NFT collections like Bored Ape Yacht Club, 

 and CryptoPunks. For instance, the Azuki NFT collection’s value dropped by nearly 50% from May 8–14. The Bored Ape Yacht Club collection experienced a 28% drop in price during the same time period. Similar drops occurred with CryptoPunks and the 

It's likely that the popularity of NFTs dropped because of market sentiments around cryptocurrencies. For instance, Bitcoin dropped from $36,000 on May 4, 2022 to just under $29,000 by May 11. This drop in NFT popularity indicates that the NFT bubble is bursting.

NFTs are almost certainly losing some of the inflated value they had in 2021 and into the beginning of 2022. However, this doesn't mean that they’re no longer valuable. To gain a better idea of why the NFTs experienced a fall in trading volume, let's take a look at the broader financial markets.

Throughout 2022, crypto values have dropped considerably as the result of the TerraUSD and LUNA market crash. In November 2021, Bitcoin was valued at $67,000 per coin. By late January 2022, its value had more than halved. While it reclaimed some of its value in the following months, further drops would occur in May and beyond. 

Meanwhile, an NFT curated by Snoop Dogg for the ETH equivalent of around $32,000 

. However, on May 3, 2022, the highest bid that the NFT received was just 0.0743 ETH, which is around $210. It's clear that these digital assets are no longer selling for what they once were.

Despite the recent drop in NFT values, the future of NFTs is promising. According to Gartner, a technological research and consulting firm, it's estimated that

 will eventually spend one hour or more every day in the 

 by 2026, and that NFTs and crypto will be the basis for the virtual economy inside the metaverse. As NFTs become more entwined in people's everyday experiences, their value should increase correspondingly.

The future of these digital assets is secured in part by the belief that 

 will become increasingly popular. Social NFTs, like social tokens, are designed to provide digital artists with the opportunity to create unique digital collectibles that represent their likenesses.

Social NFTs give content creators the means to better connect with their fans. Because of the ever-increasing popularity of social media platforms such as TikTok and Instagram, Social NFTs should also increase in popularity in the following years.

Even though the NFT bubble has likely burst, NFTs are still much more popular than they were in 2020. The meteoric growth of the NFT market has led many artists and investors to discuss the possibility of creating utility tokens with potential use cases for NFTs.

NFT tokens are inherently unique and are already being used to transform how people play and interact. Utilities for NFTs could involve rewards, owner rights or certain privileges. For instance, a thousand unique NFTs could be provided as a means of entry to a concert.

It's likely that the NFT bubble has burst. Of course, another NFT bubble can still develop in its place. While most NFTs have dropped considerably in value throughout 2022, many NFT collections of digital assets are still highly valuable. In the real estate market, prices tend to slowly increase after a bubble bursts. The same may be true following the bursting of an NFT bubble. It's entirely up to you whether you hold or sell your NFTs. Either way, we’d recommend performing sufficient research before you make a final decision.

The rapid rise in the daily average for NFT trading volumes that occurred in 2021 marked the formation of an NFT bubble that has recently burst. While the initial surge of the NFT market has since cooled, NFTs are still popular among crypto investors. Make sure you're aware of the warning signs of an impending NFT bubble burst so that you can react quickly before it does.

Beginner

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What Is an NFT Bubble & Has It Burst Yet?

Angola is an NFT infrastructure built on blockchain that allows users to create their own NFTs with photos that they take. Find out more in this article.

The NFT space has been one of the fastest growing crypto markets, with experts predicting that the current $3 billion market size will reach $13.6 billion by the end of 2027. Crypto investors have joined in on the hype and turned to the NFT market because it’s so lucrative, especially for 

. However, due to crypto’s volatility, many investors are unsure which projects to invest in. If you’re looking for an NFT that has a unique value proposition, consider Angola, the latest platform to join the space. What sets it apart is its support for creators, ensuring that they have both full ownership over their content and proper profit distributions.

is improving the NFT space? Read on, as we take a look at Angola and its unique NFT Camera. 

Angola is an NFT infrastructure built on blockchain to alter the dynamics of the current NFT market space. Designed to improve the way profits and ownership are distributed, Angola has created an easy way for users to generate NFTs from their everyday lives and earn a reasonable profit. 

Once the NFT Camera beta service launches, users can download the Candy Camera app, a widely-used camera and photo editing application, on the Apple App Store or the Google Play Store and start taking photos with the NFT Camera function. Every time you take a photo, you’ll 

Candy Camera has over 200 camera filters and more than 30 image editing functions to help you edit photos for high-quality editing and content. There’s even a real-time face corrective function, which allows you to retouch your face on-demand. General editing functions award users with CRRT tokens, while special editing functions burn a number of the user’s CRRT tokens.

Once you’re satisfied with the photo you’ve taken, you can proceed to mint it as an NFT. Note that a certain number of CRRT tokens will be removed from your account upon minting. If you have an existing photo in your gallery, you can also add it to the Candy Camera App to mint it as an NFT. After the NFT minting process, the NFT photo is assigned a badge which determines its NFT stats. 

Post the NFT you’ve just minted to the NFT Gallery, and you’ll earn 

 or CRRT tokens once it’s picked by other users. After you reach a certain number of Picks, your NFT photo qualifies for submission into Angola’s NFT Marketplace.

You can upgrade your NFT Camera level from 0 to 30 by fulfilling requirements, such as taking more photos and issuing more NFTs. 

In order to mint an NFT Camera Box, you need to have CRRT tokens, and two Camera NFTs at a  certain level. Alternatively, you can also choose to purchase an NFT Camera Box on the Angola NFT Marketplace. The types of NFT Camera Box and NFT Camera you have determine how many CRRT tokens you receive upon snapping a photo, as well as the types of functions available for use within the Candy Camera app. 

If you’d like to earn more stats and rewards, you can consider synthesizing your NFT photos with Frame NFTs. Note, however, that you have to meet a certain NFT Camera level and spend CRRT tokens in order to mint the Frame NFT.

The app contains weekly and monthly missions for users to complete in order to earn CRRT tokens. Some of the missions include taking five photos, liking three photos, and minting two NFTs. Simply perform these steps, and you’ll notice your wallet’s CRRT balance increase.

If you’re looking for another way to earn CRRT tokens, you can head over to the 

tab and participate in the various themed challenges by submitting the NFTs you’ve minted, according to the theme. For instance, some of the themes include travel and fashion. This challenge is a great way for users to unleash their creativity through their photos. Note that you can participate in a maximum of three challenges at one time, so be sure to choose your challenges wisely. 

Once you’ve submitted your entry, you can proceed to vote for other users’ NFTs. After the challenge’s deadline has passed, the user with the most likes on their NFT will win attractive rewards, such as 100,000 CRRT tokens.

Winners of challenges can also choose to sell their NFTs at the end of each challenge at a much higher price than normal NFTs, thus raking in a higher profit.

 to earn profits from the NFT Cameras and photos that you obtain through in-app activities. For example, list your NFTs on the Angola NFT Marketplace after they’ve received a number of Picks from other users. Your NFT is deemed registered once it’s accepted into the NFT Marketplace. As the creator, you’re free to set the price for your NFT. Alternatively, you can opt for an auction sale. A portion of the sales revenue will go toward the Angola ecosystem and the users who’ve picked your content.

 supports both the Ethereum AGLA token and the Solana AGLA token. Users can swap tokens from one chain to another, provided the Angola ecosystem supports them. 

The Angola Wallet is also where you can view your past transactions, as well as NFTs you’ve minted and own. 

CRRT is obtained through participating in various activities within the Angola ecosystem. It acts as the platform’s Take to Earn reward. Specifically, users reap CRRT rewards when they take photos using the Candy Camera, view ads, complete missions and events, participate in challenges, and mint Camera NFTs and Camera Box NFTs. This creates a reward cycle, as CRRT can be swapped for AGLA tokens to purchase NFTs.

A portion of users’ CRRT tokens are burned when they mint photos they’ve taken, Camera NFTs and Camera Box NFTs. 

AGLA, the main platform tokens of Angola, are based on the ERC-20 standard. You can earn AGLA by completing activities and selling your own NFTs, or purchase them through Bybit. 

As the platform’s primary utility token, AGLA are used to:

Now that we’ve looked at Angola’s foundations

. There’s a total supply of 3 billion AGLA tokens, with 33% reserved for powering the ecosystem, 30% allocated to rewards, 15% to the founder and team, 11% to public sale, 8% to private sale and 3% to the project’s advisors and contributors. 

In case you’re concerned about inflationary pressure on the value of AGLA tokens, you’ll be glad to know that AGLA tokens — just like CRRT tokens — are burned in order to mint NFTs. The amount burned will be determined by governance. Of course, there are also various types of token utilities for the AGLA token to ensure that its value increases over time.

One use for AGLA tokens is to purchase NFT Cameras and NFT Camera Boxes on the Angola NFT Marketplace, in order to earn higher stats and rewards. These, in turn, produce a better NFT badge for each NFT photo that you mint, so that NFTs that can command a higher number of AGLA tokens. This creates a cycle that maintains the long-term supply of AGLA tokens. 

Ready to start earning profits from photos of your everyday life? Start investing today at 

, where 7.7 million AGLA tokens are ready to be earned through committing 

is an exciting NFT project, thanks to its unique proposition of turning aspects of everyday life into profitable NFTs. It challenges users to take creative photos and sell them as artworks, and rewards them for completing various activities and challenges. Creators can earn a reasonable profit from their NFTs, while investors will be satisfied with the AGLA token’s utilities and value. 

is set to incorporate even more features in the near future, such as offering an NFT Camera Rental Service. The Angola team continues to introduce ways to establish its market presence within the NFT space in order to become the mainstream platform for users to create NFTs and trade. With so many projects and goals in the pipeline, Angola is positioned to prosper. This is the perfect opportunity for investors to get in early and earn daily rewards. 

The Angola ecosystem’s AGLA tokens appear to be a solid long-term addition to any crypto portfolio. Angola isn’t quite like any other NFT project out there. It lowers the barrier to entry to the NFT market, while fairly compensating creators for their efforts. The future of the project looks promising, especially since the team is dedicated to innovating more features that give users the chance to earn as they take photos. 

clearly has a lot of potential. We look forward to all that it has to offer.

Intermediate

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Angola (AGLA): Turn Photos Into NFTs & Trade Them for Profits

Contrary to popular belief, Pudgy Penguins aren't dead. From children's books to a new owner, here's how Pudgy Penguin NFTs are making their Web 3.0 comeback.

, an acronym for “non-fungible tokens,” are a subcategory of cryptocurrencies that represents ownership of a unique asset. They’ve taken the investing world by storm because they represent a new and unique class of asset. Since Pudgy Penguin NFTs appear in the news often, we aren’t surprised the adorable birds have piqued the interest of anyone remotely interested in this currency type. 

If you’re curious as to why these Antarctic avian dwellers are attracting the attention of NFT enthusiasts, read on. From a change in the project’s leadership to celebrities adopting them, we’ll address everything you need to know about Pudgy Penguins, and how they’re planning to shake up Web 3.0.

Pudgy Penguin NFTs embody empathy, meaningfulness and compassion as their theme. The Pudgy Penguin NFT collection includes 8,888 individual NFTs. Like other popular NFT projects, Pudgy Penguins are hosted on the Ethereum blockchain.

The Pudgy Penguin NFT group flocked onto the scene in the summer of 2021. It quickly became one of the most popular NFT projects. Sales rocketed partly because of the individualized, exclusive niche the Pudgy Penguin NFT occupied in the NFT space and how involved the community seemed to be in the future of the project.

The original founders of the Pudgy Penguin NFT project were college students — one being Cole Villemain, also known as ColeTherium. The original creators made big promises regarding the project's future, including the development of their own token launch, a children’s book, a metaverse game and more. When these promises failed to materialize, the Pudgy Penguin NFT project fell into disfavor. Furthermore, Cole Villemain himself was outed for running paid promotions of NFT projects without disclosing that he’d received remuneration for them. He was also found to have siphoned off funds from the Pudgy Penguin NFT project's treasury.

In late 2021, the Pudgy Penguin NFT community ousted the original founders of the project. After months of turmoil, a bidding war broke out in January 2022 for the Pudgy Penguin NFT collection. Main suitors included Luca Schnetzler a.k.a. Luca Netz of Netz Capital, Mintable.app founder Zach Burks and NFT influencer BeanieMaxi.

The Pudgy Penguin NFT group was sold in April 2022 to Los Angeles–based Netz Capital for 750 ETH, or roughly $2.5 million. Netz, the former German footballer turned e-commerce entrepreneur and investor, is now leading the project. He’ll receive royalties on all future secondary sales of Pudgy Penguin NFTs. Drew Koven, the co-managing director of LDR Ventures, an L.A. investment firm, is also involved in the Pudgy Penguin NFT venture. According to Villemain, the original team wished to see their creation move on to the next level, and felt the new leadership has the ability and connections to see it through.

One reason the Pudgy Penguin NFT is such a hit is that it represents the glue that holds a particular NFT community together. NFT communities attract many people because they bring together like-minded individuals who not only share common interests, but who also collaborate and have fun.

The Pudgy Penguin NFT community has its own vibe and terminology. For example, penguins are called “pengus.” Pudgy Penguin owners are “huddlers.” “Tufts” refers to a rare and valuable type of penguin with no head covering. “Floors” are more common, less costly penguins. In part, the special parlance makes for a close-knit community. It also adds to the NFT intrigue, creates a buzz, and attracts others to the community — which can propel prices higher.

, which formed around a collection of 10,000 pixel-themed tokens that came to market in 2017. Launched by Larva Labs, CryptoPunks feature somewhat scruffy-looking humans, as well as zombies, apes and aliens. CryptoPunks quickly rose to luxury status, with individual NFTs selling for millions of dollars. They catalyzed the creation of other NFT communities, including the 

, a collection of 10,000 cartoon primates that now fetch upward of $45,000 each.

Another reason why Pudgy Penguin NFTs are in vogue is because of their profit potential. NFT holders and speculators typically hope to sell them at a higher price than they originally paid. After the Pudgy Penguin price drop on OpenSea in Fall 2021, investors saw the potential for major gains, given that other NFTs had become so expensive.

Only 8,888 Pudgy Penguins are available on the Ethereum blockchain. Each one is unique, and although all are scarce, some are more rare than others and bring higher prices. For example, only 58 Pudgy Penguins have a crown. The rarest one is left-facing, unlike the other right-facing birds. The characteristics that make for rare penguins can be researched on Pudgy Penguins’ OpenSea page, or with a 

Another aspect of the increasing popularity of the Pudgy Penguin NFT is the number of celebrity owners who have dived into the community. Notable among them are star NBA player Steph Curry and the Canadian rapper Tory Lanez. Celebrities often have a fair amount of money to spend, and their presence adds to the mystique of Pudgy Penguin NFTs. Celebrities also add value to NFTs because of their buying capabilities, which can drive up prices.

One important aspect of the overall appeal of the Pudgy Penguin NFT is the squeaky-clean image of the lovable, iconic penguin. The design embodies warmth, positivity and empathy — uncommon characteristics in some other NFT communities. For example, the Bored Ape Yacht Club and CryptoPunk communities focus on darker-themed NFTs.

As of Sept. 5, 2022, 4,546 NFT holders own the 8,888 Pudgy Penguin NFTs. Collectively, the Pudgy Penguin NFT collection has a total market cap of $47,082,185, according to CoinGecko.

As of mid-August 2022, Pudgy Penguins had amassed a total sales volume of $155 million, according to NFT ranking group 

. Sales were quite robust from the project's inception through July 21 in 2021, with single-day sales topping out at over 12,500 NFTs. The average price paid per Pudgy Penguin ranged as high as $11,583 during August and September 2021.

After a period of relative quiescence during the ownership drama, sales have picked up again. For example, on April 5, 2022, secondary daily sales of Pudgy Penguin NFTs surged to $2.95 million. The floor price rocketed again in August 2022, partly in response to the public introduction of a nine-member advisory board, created to preserve the integrity of the Pudgy Penguin NFT project.

The highest price ever paid for a Pudgy Penguin NFT took place in late August 2022, according to 

. Pudgy Penguin #6873, the rarest of the series, which features the left-facing bird against a green background, sold for 400 ETH on Pudgy Penguins OpenSea. Coming in second is Pudgy Penguin #7365 and was sold for 69 ETH. With such extravagant prices, Pudgy Penguins slowly captured more attention from speculators as it began to 

Just like other popular NFT-related ecosystems, Pudgy Penguins presents a healthy ecosystem with a great degree of diversity. Here are the members of the Pudgy Penguins ecosystem.

Pudgy Toys represent a tangible addition of Pudgy Penguins in the physical world. In August 2022, the Pudgy Toys lineup was introduced and can be licensed directly from the community. The initial announcement caused prices for Pudgy Penguin NFTs to surge as speculators anticipated future Web 2.0 and 3.0 collaborations that could bring Pudgy Penguins more attention.

Building upon its brand of positive vibes, the Pudgy Penguins team has partnered with Green Kids Club to publish a children’s book series. By featuring Pudgy Penguin and Lil Pudgy NFT characters, licensed with the community’s approval, the series acts as yet another marketing push to reach a broader audience and strengthen its brand. As a bonus, the team pledges to donate a portion of all book sales to penguin conservation programs.

A variety of apparel is another physical part of the Pudgy Penguin NFT experience. Short- and long-sleeved shirts, hoodies and hats, which reflect the fan base’s undying love for their feathered friends, are available for purchase. You can also get custom-printed T-shirts, sweatshirts, mugs and more, outfitted with your own Pudgy Penguin.

, a collection of 22,222 unique NFTs, are companions of Pudgy Penguins. The first 8,000 were reserved for existing Pudgy Penguin NFT holders. Lil Pudgys are available on the Ethereum blockchain. Because they’re considerably less expensive than Pudgy Penguins, they provide an opportunity to individuals with less capital to spend on NFTs.

 is another collection of NFTs based on the Pudgy Penguins ecosystem. On August 30, 2021, Pudgy Presents — to be unwrapped on Christmas Day — were air-dropped to Pudgy Penguin holders. While it was a pleasant surprise for loyal pengus and huddlers, it turned to dismay as the Pudgy Rods drew harsh criticism and were spelled “rogs” instead of “rods.”

However, despite Pudgy Rods’ rocky start, the community still holds strong to the value of these fishing rods. In hope of their becoming useful assets in a future Pudgy Penguins–related game, only time will tell whether the ambitious plans will be fully rolled out. 

On July 22, 2022, the one-year anniversary of the Pudgy Penguin NFT launch, 

 was introduced. As an example of a Soulbound token, truePengu is a non-tradable token that categorizes each member of the community into a specific coveted class.

Three truePengu tokens were created: The Ice truePengu, the Iridescent truePengu and the Gold truePengu. Ice truePengu was designed for owners of Pudgy Penguin, Lil Pudgy and Pudgy Rod NFTs. Iridescent truePengu was created for holders of Pudgy Penguin NFT and Lil Pudgy NFT. Gold truePengu is reserved for those who hold Pudgy Penguin NFTs. Pudgy Penguin owners received their unique Soulbound tokens via airdrop.

Pudgy Penguin NFTs are bought and sold at a variety of prices, depending on the rarity of the bird and the prices being paid in the overall NFT market. As with any asset, the lowest price that any Pudgy Penguin NFT commands at a given time is called the floor price, which varies in real time. Rarer birds fetch prices much higher than the floor price. Remember, Lil Pudgys can be purchased for a considerably lower cost.

Current price information, along with a host of other penguin attributes, can be found on Pudgy Penguins OpenSea. As of early September 2022, the floor price for the Pudgy Penguin NFT collection was 3.45 ETH, equivalent to $5,738.

Buying a Pudgy Penguin NFT is simple. First, you create a web wallet that supports NFTs, such as 

. Once your wallet is funded with the required amount of ETH, you can search for Pudgy Penguin NFTs on such digital marketplaces as 

. After making the purchase, you’ll find your Pudgy Penguin NFT in your wallet.

Are Pudgy Penguin NFTs a Good Investment?

The characteristics of a good investment are different for different people. If you’re in the market for a potentially lucrative NFT investment in the realm of 

, then Pudgy Penguins may be for you. Clearly, the collection has achieved a major turn in fortune with the new leadership in place. The solid fan base, support from celebrities, community loyalty, positive brand image and new ownership bode well for ongoing success.

As with all investments, due diligence and an examination of one's financial situation and investment goals are critical parts of the decision.

The Pudgy Penguin NFT collection has been on a wild ride since its initial launch. Thanks to the collective strength of the Pudgy Penguins community, the Pudgy Penguin NFT project is now operating under new and stable ownership. With all the momentum and catalysts in mind, we’re confident that the Pudgy Penguins project can become a huge player in the NFT space after re-emerging as a popular and positive movement.

pudgy penguins nfts web 3.0 featured image

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How Pudgy Penguins NFTs Are Waddling Back With Web 3.0

y00ts is a Solana-based NFT project that allows users to make and sell PFPs. It features 15,000 NFTs in the collection. Find out more about it in this article.

If you're an NFT enthusiast, you've probably picked up on the excitement around y00ts. Want to learn more? You're in the right place. Read on to discover what it is, the team behind it, how to make money with it, how to buy it and much more.

y00ts is a new non-fungible token project that allows users to make and sell PFPs. As a bonus, it's on the 

 blockchain — one of the fastest in existence.

, which is also the team behind the famous 

 NFT collection that recently hit an all-time high price in SOL. 

The y00ts NFT collection is centered on a sheep avatar, with layers of metadata to give y00ts their unique characteristics. There are a total of 15,000 NFTs in this collection, each one available to mint for 375 DUST tokens.

 are pieces of NFT art designed for use as profile pictures. Designs generally feature images of characters or avatars, making them popular among fun-loving internet surfers and individuals who'd rather not use their own photos.

Their status as NFTs differentiates them from other profile picture artworks, which creates serious appeal for collectors within the NFT space. The exclusivity of using an NFT image is exciting enough to entice even celebrities to display them.

Numerous PFP NFT projects within the overall NFT market have come and gone, but this one seems like it's here to stay.

Initially, this Solana NFT project wasn't meant to be y00ts at all. The DeGods developers planned a project called

, which would have been an expansion collection within the DeGods ecosystem. However, the creators realized Duppies didn't go far enough. According to the 

, y00ts aims to be "a common-sense version of copyright & ownership for NFTs."

The founders' vision involves y00ts functioning like a regular copyright, but with a few differences. Typically, one entity handles intellectual property rights. In the case of y00ts, the NFT collection will function as a governing body to do that job in a decentralized manner.

With y00ts, intellectual property (IP) rights aren’t specific to one holder; instead, they’ll exist in a registry listing, where everyone can see who’s approved to use each NFT's IP. Nobody can be sure whether this founding vision will catch on, but y00ts will be a fascinating test of this new licensing implementation method.

The y00ts Solana NFT project is the brainchild of 

Solana project DeGods is a digital art collection, but it's also a community full of developers, creators, artists and other innovators. Dust Labs, meanwhile, is a software company that specializes in benefiting holders by raising the value of NFTs. Considering the success of both DeGods and Dust Labs, it's hard to think of a better founding duo.

The popularity of these NFTs is undeniable, even though the project hasn't yet launched. That's obvious when you visit the website and see that applications for scholarships to mint y00ts NFTs are no longer being accepted.

That popularity is based partly on the success of earlier projects from the founders. Frank and Kevin's transparency on Twitter doesn't hurt, either. And that's not all: y00ts stands out for its sole focus on PFPs and its attempt to change the copyright game. Often, PFP projects are afterthoughts in broader projects. But that's not the case here.

The y00ts store is a marketplace where PFP holders will be able to customize avatar traits. Artists who create them can earn royalties from the sale of the traits they’ve created. Of course, artists can also choose to make the trait free of charge.

It’s important to note that eligibility to use the store won't be automatic. Instead, you’ll need to stake a y00ts NFT for 30 days before you can earn the ⓨ token which will allow you to shop.

Each PFP will be highly customizable. When someone wants to create a custom y00ts trait, they can submit it for approval. There are a few restrictions, though:

Creators whose traits are approved will own the ⓨ (y00ts copyright) of the IP.

There are two notable ways to earn money with ⓨ. Being an artist is the obvious one. Fortunately, non-artists can make bank, too.

y00ts artists' wallets won't be complaining about the numerous ways to make money.

After a trait receives approval, the creator owns the license. That means they can set their prices, decide whether to accept SOL or DUST (the DeGods community token), and earn 5% royalties on every sale. They can even sell the license in its entirety if they want to. It is important to note that the 

 mentioned that the DUST token has no economic value. Instead, the price of the token is determined by the free market. As of now, the price of one DUST token is approximately $1.51.

Artists can also pick the quantity available, giving them control over the supply and, hopefully, creating more demand for rare traits.

The fun doesn't stop there. Creators can also design fashion brands for the collection, and apply them to numerous traits.

Last but not least, artists will have the opportunity to complete paid commissions for y00ts holders.

 the financial fun. Fortunately, enterprising individuals can earn significant cash without creating a single trait.

Users will be able to make traits for six months. After that, the y00ts store will stop accepting them. Once that happens, holders can divide their y00ts into parts. They can then sell the individual items, which will be in limited supply. y00ts holders can also trade for other traits.

Additionally, non-artists can create y00ts clubs — sub-communities based on commissions of custom sets of traits. They only need to pick an artist from the y00ts store. Holders can then register their clubs with ⓨ and add their own logos.

The y00ts developers envision clubs revolving around things like memes and common interests, though y00ts holders will undoubtedly come up with surprises.

All traits within a registered club fall under one y00ts copyright, so a club creator can monetize the entire sub-community. They'll receive royalties from every y00ts sale of a trait from their club. Alternatively, club owners can sell the rights to traits for DUST or SOL.

This is the general breakdown of y00ts' rarity structure, give or take a couple of percentage points:

The launch date for y00ts was supposed to be September 2, 2022, which has come and gone. The delay occurred because, for reasons that are still unclear, Twitter briefly

 of several members of the y00ts team on August 31. Twitter is the primary method through which the y00ts team communicates, and the account suspensions made it challenging to complete all necessary pre-launch tasks.

The new launch date was purported to be Sunday, September 4, at

.” However, the mint was once again pushed back after the team ran into a blocker bug, as 

. If a fortune teller were here, they could tell you the market cap and the most expensive sale; alas, they are not. To get that information as soon as possible after launch, you can check

So far, 200 SOL is the highest sale price these NFTs have reached. There are, however, secondary market listings offering them for prices as impressive as 

. At the collection's highest floor price, its market cap reached almost 2.8 million SOL.

After starting at 124 SOL upon launch, the floor price quickly reached 186 SOL (about $6,138 at the time) within 24 hours, with only a brief dip to 129 a little after 6 a.m. on September 6. The floor is now 136 SOL ($4,243).

 taught us anything, it's that Frank — the founder of both y00ts and DeGods — knows how to lift floor prices. You can see how much DeGods’ floor rose in just the past three months right

With a cofounder like Kevin, who specializes in raising NFT value, it's fair to say that y00ts' floor price could continue to rise. Displays of eager anticipation from those who wish to buy y00ts tokens further emphasize how well things might go.

The first people to get their metaphorical hands on y00ts were

. Minting cost them 375 DUST (currently around $725, though the value was higher at launch), the DeGods system's native token. There were originally 15,000 NFTs available, though many have now been minted.

Despite the fact that scholarship winners got the first chance to mint y00ts, that's not the only way to get them. DeGods holders also had a shot at getting them early. Fortunately, the rest of us have options, too.

Individuals had to apply for a scholarship to get on the “y00tlist” — similar to a presale list — and mint an NFT. If you're reading this article, it's too late for you to get a y00ts scholarship, since the collection has already launched. However, it would have been too late even if you'd attempted it a couple of days before launch. The applications closed on September 2, two days earlier than expected. That was likely an unpleasant surprise to anyone who had heard earlier statements that applications would close September 4.

The scholarship was an interesting choice on the developers' part. Let's talk about how it works.

The team members behind this Solana NFT project say they chose applicants based on merit. In this context, merit means people they believe will actively participate in the community while adding value. Developers expect that a curated community will help y00ts flourish.

Some have worried that "merit" might mean "has a big Twitter following," but that's not the case. People with small follower counts received fair consideration as well.

The scholarship process involved checking to ensure applicants had enough SOL or DUST to mint their project. It also required applicants to verify their social media accounts and answer several relevant questions. Each person had to state which category they fall under: Artist, meme creator, etc.

Anyone who didn't make it to the y00tlist must turn to the open NFT market.

If you can't manage to get a y00ts NFT in the primary market, you can always head to a secondary market.

, Solana’s top NFT market, is a particularly good option. Its biggest draw? Low transaction fees. Magic Eden also has the best attributes filter around.

A new NFT market seems to pop up every second, but sticking with a well-established, trustworthy choice like Magic Eden is wise.

 is another popular platform where you can find these NFTs. Rarible now has a large selection, too.

As stated previously, unless you're a fortune teller, you can't be sure that y00ts NFTs are an excellent long-term investment. But anyone who's paying attention can make an informed guess that they will be. Here's why:

Another reason for high hopes is one that’s too big to include in a bullet list. Dust Labs, the software company behind y00ts, recently 

. The funding round saw investments from Chapter One, Foundation Capital, FTX Ventures, Jump Capital, Metaplex and Solana Ventures. A belief in y00ts' future success played no small part in confidence among these investors.

y00ts has the potential to become a game changer in the NFT PFP world, wildly surpassing other PFP projects. Its novel approach to managing intellectual property rights, singular focus on PFPs and insistence on creating a great community from Day 1 make it stand out in a saturated field.

732_y00ts_NFTs-_Creating_More_Than_Just_NFT_PFPs_1600x900.jpg

y00ts NFTs: Creating More Than Just NFT PFPs

DeGods is a Solana NFT project featuring 10,000 colorful, virtual gods, each one creatively attired. Find out why it recently exploded in popularity here.

The overall NFT market has grown dramatically in recent years, as investors have increasingly been drawn to the profitability of digital collectibles. While there are many NFTs available through marketplaces like 

 is rightfully a standout that deserves your full attention. A closer look at the exciting differences between this NFT and others on the NFT market today will clearly reveal its advantages and profit potential.

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