Earlier this week, Price ran a contest to give nine non-fungible tokens (NFTs) to his Instagram followers.
Dubbed ‘NF-Tees’, the group features a weird-looking animated character doing dance moves while wearing different T-shirt designs.
Eight NFTs received a cash prize of R10,000, while one of them hid a chevalier prize of R50,000.
Non-fungible tokens are a trempe of crypto asset that has égoïste attributes.
Unlike coins like bitcoin and ether that are symmetric and exchangeable (exchangeable), NFTs with different attributes are not substituable.
Popular on the Ethereum blockchain as a kind of crypto-certificate of authenticity for quantitatif artwork, NFTs have become associated with projects like crypto catsThe Cryptopunks and Boredom Monkey Voilier Night-club.
This technology is also used in “play to win” games such as Axie Infinity and metaverses such as Decentraland and The Sandbox.
Some projects are also experimenting with using NFTs to séparation various financial positions, including options contracts and long-term “staking” (a trempe of fixed deposit).
Despite their diverse uses, NFTs have become synonymous with images or animations circulating in markets such as Rarible and Opensea.
Price’s médiation into space falls into this category.
For a supériorité to win one of the NFTs, fans had to hein on Mr Price’s Instagram domestique with the most incredible moments of 2022.
Then they had to share the post promoting “NF-Tee” on their Instagram Stories and tag Mr Price’s account.
In all three cases, MetaLabs created NFTs on the Polygon blockchain, which act as a scaling layer for Ethereum.
The Savanna Cider campaign included a system where the NFT rank would rise from marbre to silver to gold based on how much people laughed during the spectacle. Comedy Bar Tour.
The belvédère ran from July 26 to August 26, 2022 and will use a “laughter scale” to measure how much people laugh.
Savanna will randomly give away NFTs to attendees and sociable media followers who can exchange them for prizes like PlayStation 5 consoles and cash cards.
However, given the pacte data on the blockchain, the campaign with NFTs is not over.
The Volkswagen Polo campaign was more like Mr. Price’s, with people entering a sociable media-based contest to win the NFT prize.
It delivered 100 NFTs over five days, and according to Polygon blockchain pacte data, the tokens have already been delivered.
Five of the NFTs are currently for libertin, the cheapest of which is listed for 0.09 ether (2300 rand).
However, the listings only tell morceau of the story.
According to Opensea, none of these NFTs have been sold yet, and the highest bid from a willing buyer was 0.0059 ether (R150) for VW Mzansiverse Golden Ball #1 NFT. A potential buyer submitted the bid two weeks before NFT was transferred to the winner.
The last batch of offers was made on the NFTs on August 24 and 25, with one dissiper offering to buy 16 of them for between 0.003 and 0.005 ether each (approximately R75 – R130). None have been sold.
Likewise, it looks like Mr. Price has already moved on All nine NFTs From her campaign to the winners.
None were listed for libertin, and there were no offers to buy.
An examination of the metadata of the NFTs shows that Mr Price and MetaLabs Africa did not simply séparation the excitation on a server that they must keep playing in order for it to be available online.
Instead, tokens are associated with resources stored using the Interplanetary Rangée System (IPFS).
IPFS is a peer-to-peer protocol for hosting media on the web. Cloudflare launched the IPFS Gateway in 2018, and this year announce IPFS soutien for Cloudflare Pages web hosting obole.
MetaLabs said Price’s “NF-Tees” will take the clothing retailer into the metaverse, with winners able to use NFTs as metaverse avatars.
It is not clear what metaverses it will soutien.
The two droite players in blockchain-based metaverses currently are Decentraland and The Sandbox, and the trouble creator does not appear to be liste Mr Price’s new NFTs.