MetaKongz NFT Price Drops And FC Barcelona Sells An NFT For Almost $700,000

The NFT market continues to develop and offer new opportunities to investors. This time we are talking about MetaKongz’s NFT collection which has been affected by internal conflicts. This has pushed the price of its NFTs down in the last few days. But not everything is bad, the Spanish football team FC Barcelona sold an NFT of Johan Cruyff for almost $700,000. 

MetaKongz NFTs Price Drops Due to Internal Issues

MetaKongz, a popular non-fungible token (NFT) collection from South Korea, has been affected by internal conflicts. The price of most of its NFTs on OpenSea, the largest NFT marketplace in the world, fell by over 15% on average. 

Most MetaKongz NFTs are now closer to 1 ETH rather than their previous average of almost 3.25 ETH in June. Therefore, we see that the price of these NFTs has been affected due to internal problems with the team. 

Apparently, the community is tired of the problems that have been affecting MetaKongz’ team. One of the things that the community tried doing was proposing Lee Doo-hee, the chief technology officer of MetaKongz, take over the supervision of the project. 

There have also been some other problems in terms of management that created confusion among the community and reduced the trust that people had in MetaKongz and its future presence in the NFT market. 

Nonetheless, MetaKongz has been working with other recognized brands such as Hyundai Motor, meaning that the team was capable of doing great things when they were focused on the project. 

FC Barcelona Sells NFT For Almost $700,000

But not everything is bad news for the NFT industry. FC Barcelona has sold an NFT for $693,000 that featured Johan Cruyff, one of the legends of this football club. The auction took place on July 29 and it was conducted by Sotheby in New York. 

The NFT is a visual and audio piece called “In a Way, Immortal.” It represents the football star Johan Cruyff scoring against Atletico Madrid in 1973. Thanks to the way it was created, the piece also features an orchestra. 

This shows how the NFT market continues to expand with brands such as FC Barcelona working with other companies in order to offer reliable and unique NFTs. Additionally, it is expected for FC Barcelona to offer new NFTs in the future alongside other companies. 

A few days ago, we reported at UseTheBitcoin that the exclusive Jewellery Brand Tiffany & Co announced the sale of customized CryptoPunk NFT pendants for 30 ETH each. This is just one of the many initiatives that are currently being offered by international companies to users in the NFT market. 

As we can see, there are various proposals that focus not only on NFTs in the virtual space but also on real and tangible objects like pendants created with some of the most reliable materials. In the future, there could be similar initiatives to this one combining NFTs and real-world art.

Source: Read Full Article

click fraud detection