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BTCUSD ▼ bid 49012.50 ask 49029.00 ▲ ETHUSD bid 3231.06 ask 3232.81 BCHUSD bid 673.88 ask 674.73 LTCUSD bid 178.47 ask 178.63 We recently made an update on how our members login. Read about the changes here. Research News+ Data Reports Events Podcasts Newsletter Text Alerts Sections You are currently not logged in. Login Get News+ Get Research Join The Block — Become Among the Most Informed on Digital Assets Subscribe Now Join Research Already a Member? Login now Digital assests are disrupting everything. Stay ahead of the curve. Become a member Independent analysis requires independent journalists. Click here to help support our work. News NFT TWITTER'S COLLECTION OF 140 NFTS GENERATES OVER $5 MILLION IN TRADING VOLUME Download PDF / Print by Saniya More AUGUST 10, 2021, 7:42AM EDT · 2 MIN READ the block QUICK TAKE * Twitter’s inaugural collection of non-fungible tokens (NFTs) has generated 1,700 ETH, or $5.3 million, in trading volume on NFT marketplace OpenSea. * The floor price for a Twitter-issued NFT is currently at 90 ETH, worth approximately $281,000 at the time of writing, according to OpenSea. advertisement Twitter's NFT giveaway, "The 140 Collection," which Twitter minted and released on June 30, has generated 1,700 ETH ($5.3 million) in total trading volume on NFT marketplace OpenSea. While this is far lower than NFT projects like Axie Infinity and CryptoPunks, it's a considerable amount of trading volume for just 140 NFTs. NFTs, or non-fungible tokens, are blockchain-based tokens that can represent any type of file, from images to videos. In the case of the Twitter collection of 140 NFTs, all of the tokens are short GIFs related to the social media platform in different ways, including animations and characters interacting with some aspect of the platform's brand. The collection features seven different designs with 20 tokens available for each variation. Twitter handpicked 140 users who responded to its main tweet announcing the giveaway. Shortly after, the winners came together to form an organization with the goal of getting the maximum value out of their new digital assets. The founder of the 140 Collection organization, who goes by Geo, was one of the 140 winners. He started the group just a few hours after the giveaway after seeing several winners sell their Twitter-issued NFTs for significantly less than what he thought they were worth. The organization now has 70 members and continues to grow, according to Geo. "We have seen the number of holders for the Twitter NFTs plummet with people completing full sets (buying one of each of the seven designs). The fewer people holding the NFTs, the better, and with only 140 available, it's easier to shake out weak hands," he told The Block. Since the organization began, the floor price for these NFTs — the current minimum price that they are available for purchasing — has risen to 90 ETH ($281,000), per OpenSea. Although most recent sales are in the 42 to 69 ETH range ($131,500 to $216,000). "When you give 140 random people something of value, there's no way of telling who will hold onto it for its true value at first," he said. "That's what you see happening now." © 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. NFT RELATED READING LAYER-1 PLATFORMS: A FRAMEWORK FOR COMPARISON Research COINBASE IS READY TO PURCHASE $500 MILLION WORTH OF CRYPTO ON ITS BALANCE SHEET Bitcoin A BRIEF QUANTITATIVE HISTORY OF NBA TOP SHOT NFT 'FRACTIONAL' NFT PLATFORM COMPLETES $7.9 MILLION IN SEED FUNDING Funding TWITTER TAPS CRYPTO DEVELOPER TO LEAD DECENTRALIZED SOCIAL MEDIA INITIATIVE BLUESKY The Block MULTI-BILLION DOLLAR HEDGE FUNDS ARE TAPPING INTO DEFI WITH METAMASK'S INSTITUTIONAL PRODUCT DeFi EVERYTHING YOU NEED TO KNOW ABOUT THE STABLECOIN WARS Stablecoins MAPPING OUT NORTH AMERICA’S CRYPTO MINING INFRASTRUCTURE BOOM Mining GET YOUR CRYPTO DAILY BRIEF Delivered daily, straight to your inbox. I accept the Terms of Service I accept the Privacy Policy Sign Up! Research LAYER-1 PLATFORMS: A FRAMEWORK FOR COMPARISON The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana. We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come. Read Full Story AUG 11, 2021, 7:18PM GMT+2 The Block News Plus EVERYTHING YOU NEED TO KNOW ABOUT THE STABLECOIN WARS Transparency has become the name of the game in the stablecoin market. Here's why that is — and how the game has played out so far. Read Full Story AUG 19, 2021, 11:50PM GMT+2 Investments WELLS FARGO, JPMORGAN PARTNER WITH NYDIG TO LAUNCH BITCOIN FUNDS NYDIG filed three forms with the Securities and Exchange Commission today for private bitcoin funds in association with major banks. Read Full Story AUG 19, 2021, 11:43PM GMT+2 Funding 'FRACTIONAL' NFT PLATFORM COMPLETES $7.9 MILLION IN SEED FUNDING The Fractional Token Company, also known as Fractional.art or Fractional, has raised $7.9 million in total seed funding. Read Full Story AUG 19, 2021, 11:32PM GMT+2 Regulation BRIAN QUINTENZ, CRYPTO-FRIENDLY CFTC COMMISSIONER, TO LEAVE OFFICE AT END OF AUGUST Brian Quintenz will leave the commission at the end of the month, he says. Read Full Story AUG 19, 2021, 7:01PM GMT+2 NFT 1CONFIRMATION BACKS NEW NFT STARTUP BUILT FOR MUSIC ARTISTS IN $2.2 MILLION ROUND The project is looking to provide a haven for music artists amid the mania of the NFT market. Read Full Story AUG 19, 2021, 6:29PM GMT+2 Funding FINTECH COLLECTIVE CLOSES $250 MILLION FUND WITH NEW DEFI STRATEGY FinTech Collective, a venture capital firm investing across fintech and digital assets, has raised $250 million in fresh capital. Read Full Story AUG 19, 2021, 5:35PM GMT+2 Companies COINBASE CFO SAYS THE FIRM HAS STOCKPILED BILLIONS TO PREPARE FOR 'CRYPTO WINTER': REPORT Coinbase is preparing for a crypto winter. Read Full Story AUG 19, 2021, 4:41PM GMT+2 Companies ROBINHOOD STOCK PRICE WHIPSAWS DOWNWARD AFTER DISAPPOINTING Q2 EARNINGS REPORT Robinhood's stock price was in free fall at the start of Thursday's trade. Read Full Story AUG 19, 2021, 3:49PM GMT+2 The Block Research AUGUST ANALYST CALL | FULL VIDEO This month, Lars Hoffman takes a look at July by the numbers. Eden Au shares details on Ethereum's recent upgrade, EIP-1559. Lastly, Igor Igamberdiev takes a look at loyalty in the largest DeFi protocols. 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Read Full Story AUG 19, 2021, 5:16AM GMT+2 Mining BIT MINING NETS $445 MILLION IN Q2 REVENUES THANKS TO BTC.COM'S ACCOUNTING METHOD 95% if BIT Mining's Q2 revenues came from BTC.com but that was more just an accounting trick as BTC.com treats all block rewards as revenue. Read Full Story AUG 19, 2021, 3:46AM GMT+2 Crime OPERATOR OF BITCOIN MIXING SERVICE HELIX PLEADS GUILTY TO LAUNDERING MORE THAN $300 MILLION According to the DOJ, the operator of bitcoin mixing service Helix has pled guilty to laundering over $300 million. Read Full Story AUG 19, 2021, 12:07AM GMT+2 Funding CRYPTO PAYMENTS PROJECT MOBILECOIN RAISES $66 MILLION IN SERIES B FUNDING MobileCoin intends to use the funding to build a crypto chatbot service, merchant sales support, and a stablecoin pegged to the U.S. dollar. Read Full Story AUG 18, 2021, 11:55PM GMT+2 Public Companies CRYPTO GROWS FROM 2% TO 41% OF ROBINHOOD'S TOTAL REVENUE IN PAST YEAR Crypto transactions drive growth in Robinhood's revenue over the past year. Read Full Story AUG 18, 2021, 11:04PM GMT+2 More * Content * News * Research * Data * Reports * Multimedia * Events * Podcasts * Newsletters * Text Alerts * Company * Features * Research * About * Team Members * Disclosures * Contact * Advertise * Careers * Tips © 2021 the block. all rights reserved. privacy policy • terms of service Bitstamp. For all the ways we crypto. Join our community of 4+ million investors and traders. Sign up today. This website uses cookies to ensure you get the best experience on our website. Click here to view our Privacy Policy OK