Despite the prolonged crypto winter, Galaxy Digital and its CEO Mike Novogratz are still bullish and ready to tell the world about their first NFT.
The 3,210 digital collection, unveiled Friday as part of Galaxy’s Explorer Collection, is set to release on October 14th. NFT celebrates not only the company’s new logo, squares and circles resembling a space helmet, but also his Novogratz faith in the sector.
“Crypto is going through a tough time, but we are still here,” he said. luck“We are building for the future.”
NFT sales have been declining for months.OpenSea, the Most Popular NFT Marketplace, Declines in Trading Volume 12% or more The Bored Ape Yacht Club, the most popular collection in the last 30 days, also hit the mark during the same period, according to crypto-analysis platform DappRadar. about 11% drop.
Nonetheless, Novogratz noted the adoption of the technology by large companies, including: Nike Evidence that NFTs are here to stay is in major sports leagues like the NBA.
“In many ways [it] It was easier for people to understand blockchain with NFTs than with Bitcoin,” Novogratz said.
Created in partnership with TIMEPieces, Time’s Web3 initiative, Galaxy’s NFT collection features designs by three generative artists: Jake Andrews, Palin Heydari, and William Kwak Amo. According to Eva Casanova, head of labs at Galaxy Interactive, one of Galaxy Digital’s funds, they used computer code to create pieces that reflected their own style.
Each NFT is unique, Casanova added. Artists use codes to give each piece different characteristics, similar to collections like CryptoPunks. But unlike CryptoPunks, which trades for hundreds of thousands of dollars, the company airdrops NFTs to employees, investee company founders, and industry partners for free. The work is not intended to be sold, but if it does, the proceeds will go to the artist.
“We’re not doing this as a financial endeavour. We’re doing it to create spirit in the community,” Novogratz said. “We have been here for a long time.”