What is Alec Monopoly NFT collection? Is it expensive? - Kalkine Media

July 25, 2022 12:48 PM AEST | By Ankit Sethi
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Highlights

  • RAGS to RICHIE is the name of the NFT collection of popular street artist Alec Monopoly
  • Digital assets are being minted, and it is being said that this will be followed by physical artwork giveaway
  • NFTs have not attracted very high prices this year despite the entry of names like Madonna and Bill Murray

The so-called ‘crypto winter’ of 2022 is neither deterring new crypto launches nor the release of new NFT collections. The term is used to imply a dull phase during which prices of cryptocurrencies are down, with no near-term trajectory reversal in sight.

That said, in the space of a new crypto launch, one GNOX token is in focus. In the NFT verse, it is the minting of the collection launched by popular artist Alec Monopoly, which is hitting the headlines. Let us quickly explore these digital assets. After this, let us take a brief look at how 2022 has been for NFTs.

What is Alec Monopoly NFT collection?

The collection, titled RAGS to RICHIE, houses 6,500 NFTs, which come with over 150 unique attributes and 50 artworks of artist Alec Monopoly. Monopoly, an American street artist, is popular for his physical artworks, which include a mural for watchmaker TAG Heuer and multiple works with a focus on the Mr Monopoly character of the Monopoly board game.

The NFT collection is being minted and the project is inviting enthusiasts to participate by using either MoonPay or MetaMask services. MoonPay can allow participation through a credit card, while cryptos can be used to make purchases by picking the MetaMask option.

It is being said that the giveaway after the Alec Monopoly NFT minting will have US$1 million worth of physical artworks. This will be followed by merchandise and exclusive clothing for NFT holders, a party with the artist, and a metaverse event. The project is also talking about the belief of artist Monopoly in Web 3.0.

Is Alec Monopoly NFT expensive?

As of now, the minting is underway, and the real picture can become clear once the process is over. Separately, since NFTs are tradable like cryptocurrencies, if any buyer of the NFT during the ongoing minting decides to auction the asset, the bids might be high.

For now, the total sales value of the collection is not known, and could all the assets be minted is also not clear. Alec Monopoly’s physical artworks have in the past reportedly earned backers like Miley Cyrus and Snoop Dogg.

NFTs in 2022

In 2022, many new NFTs have been released. These include a charity-focused auction by singer Madonna, collections of actor Bill Murray and scale model car brand Hot Wheels. New marketplaces, including LimeWire and GameStop, have also been launched amidst fan frenzy. However, this year has not been as hot in terms of price as previous years when artist Beeple’s works were bought by enthusiasts at very expensive prices.

Selling price of Beeple’s NFTs

Bottom line

The new Alec Monopoly NFT collection is on the block right now. The project is inviting enthusiasts for minting. Will the NFTs attract high prices is a question that might be answered soon.

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