In 2022, the NFT market is experiencing explosive growth. NFTs are non-fungible tokens, which represent unique assets that exist on a blockchain.
In the world of cryptocurrency, a fungible token is one that can be divided into smaller units or exchanged for other tokens of the same type. For example, Bitcoin is a fungible token because any two BTC are always worth the same amount.
On the other hand, non-fungible tokens (NFT) are unique and cannot be divided or exchanged for other tokens of the same type. Often called “crypto collectibles”, NFTs are like digital artworks or items that can be collected and traded.
By allowing people to own their digital assets, NFTs open up a world of possibilities. For example, NFTs can help artists protect their music against piracy, illustrators from having their art stolen, gamers from being scammed out of rare items, or even signify an exclusive membership.
According to Reuters, the total value of all NFTs sales worldwide hit $25 billion in 2021. The NFT market’s growth is being driven by a number of factors, which include but are not limited to, the increasing popularity of blockchain games and virtual worlds, the rise of digital art and collectibles, and the growing interest in using NFTs to store real-world assets.
The Rise of NFTs
In 2017, the launch of CryptoPunks changed the way digital ownership was viewed forever. Often referred to as the first NFT collection, the CryptoPunks set consisted of 10,000 unique images in an 8-bit pixel art style. Developed by Larva Labs, the collection inspired the ERC-721 standard that much of today’s NFT market uses. Three years later, a lot of 9 CryptoPunks NFTs were sold for $17 million.
In another historic sale, Beeple’s “Everydays – The First 5000 Days” was the first digital-only artwork sold in a major auction house. On March 2021, the collage of 5000 images, which took 13 years to make, was sold for $69.3 million by Christie’s.
On the other hand, Decentraland takes a different approach with NFTs through virtual real estate. In the form of NFTs, Decentraland is composed of 90,601 parcels of 16 by 16 virtual lands. Once acquired, owners of these parcels of digital land can create games, attend concerts, host events, and so on.
Similar to land in the physical world, it is also possible to buy and sell land in Decentraland to other investors. A patch of virtual land on Decentraland was purchased for a record $2.4 million worth of cryptocurrency in November 2021.
However, despite its reputation as a way to earn quick money, NFTs also have endless, practical applications, which goes beyond the digital world. For example, the Bored Ape Yacht Club is one of the first collections to use NFTs as a symbol for membership in a community. Through an NFT called the Bored Ape Yacht Club Membership Token, holders have access to exclusive events, merchandise, and experiences.
In recent times, developers are only beginning to scratch the surface on NFTs, the technology behind it, and what it can do. However, one incoming project is hoping to use NFTs to literally make the world a better place. This year, the Ecotars NFT collection is set to not only release a set of beautiful art with a rich lore, but also empower environmentally conscious organizations like never before.
Creating a Truly Humane NFT Project
In a joint effort, Electronic Team and NFT Ideas will be launching the Ecotars NFT collection in 2022. This is the first NFT project that will be released by Electronic Team.
With over a million satisfied users across 198 countries, Electronic Team has a long history of successful projects, creating opportunities, and pushing boundaries for businesses worldwide.
At the helm of Electronic Team is Roman Kropachek, a serial entrepreneur who has successfully launched several companies, such as Cleverfiles, the #1 data recovery software vendor in the United States.
“The Ecotars are unlike anything I’ve worked on before. This project is something else – we’re using advanced technology to help nature. Blockchain enthusiasts have enough power and dedication to change the world… We can provide the means, and they’ll make the choices,” says Roman.
Trusted by brands like Intel, Asus, and Bosch, the US-based team has been developing software since 2001. For this reason, Electronic Team has the right expertise necessary to create lasting social impact using technology with the launch of its first NFT collection.
With its team of over 50 developers, Electronic Team saw the potential for NFTs to revolutionize the way that charities are supported worldwide, especially those with the goal of taking care of the environment.
Building the Ecotars NFT Community
In July 2022, Electronic Team will officially launch the Ecotars NFT collection. Acting as a symbol of dedication to improving the environment, the project’s utility is built around the concept of fundraising and block voting.
Originating from a distant world, the Ecotars were brought to earth by the Electronic Team and NFT Ideas. To help guide humanity to a world without war, disease, poverty, and pollution, the Ecotars travelled the universe using their digital minds. The Ecotars were able to successfully do this by effectively combining both plants and machines.
The Ecotars are biomechanical-looking sapient creatures, which come from four different races. Composed of trees and robotic bodies, an Ecotar uses its live, growing tree as its energy source. Starting as saplings, the Ecotars are assembled as children and evolve to have a stronger shell with time.
Both digital and modular, an Ecotar’s mind can be separated and reconnected. However, this can negatively impact its mind if the fragments are not in sync. For this reason, Ecotars thrive in a high-redundancy blockchain network like Ethereum. While in its digital form, Ecotars can also access the internet beyond human speed and comprehension.
The Ecotars NFT first collection will include 3,300 algorithmically-generated creatures. With over 300 visual and 500 musical traits, the Ecotars NFT collection will feature more than half a million frames of seamless 3D animation.
The Benefits of Becoming an Ecotarian
After acquiring an Ecotar NFT, members of the Ecotar Club will be called Ecotarians. Serving as a symbol of their commitment to the environment, Ecotarians will join in the Ecotar’s mission of protecting the environment. Lastly, Ecotarians represent the Ecotar’s noble endeavors here on Earth.
With the Ecotars NFT collection, 40% of all proceeds from presale and public mints will be donated to charities. The charities supported by the community will be chosen through voting by its members. Aside from the eco-charity donations after the initial mints, Ecotarians will also have access to whitelist privileges and bundles of free software.
In the future, Electronic Team is set to release two more distinct collections alongside access to exclusive offline events and experiences. With this, the Ecotars NFT collection is set to make an example of how NFTs can make a positive difference for both their communities and the rest of the world.