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Highlights
- NFTs of Revuto are said to make subscription of streaming services cheaper for holders
- The Technoblade NFT is inspired by a YouTuber of the same name who passed away last month at the age of 23
- New NFT collections should be first verified properly by blockchain and digital asset enthusiasts
NFTs are competing alongside cryptocurrencies to pique the interest of blockchain enthusiasts. Cryptos like Bitcoin and Ether are popular across the world, and now, the NFTs of Beeple, CryptoPunk, and BAYC also enjoy similar fame.
Even though cryptos are somewhat subdued right now, new NFT launches are keeping the blockchain-powered assets’ market busy. What follows the digital assets linked to Madonna, Coco Gauff, and Hot Wheels are two new market participants -- Revuto and Technoblade. Are these newly launched NFTs safe? Let us explore.
Revuto NFT
Revuto NFTs are a part of a larger ecosystem, which consists of an app to manage subscriptions, a native cryptocurrency, and a micro lending and borrowing service.
Revuto is a very new player in the crypto and NFT space. It claims to make the subscription of services like music and video streaming more cost-effective for subscribers. The REVU crypto of the ecosystem trades on exchanges like KuCoin, but its market cap and trading volume are on a lower side, data by CoinMarketCap suggests.
The Revuto NFT collection, which the Revuto website mentions is now fully claimed and distributed, is said to have included Netflix and Spotify subscription assets. How these NFTs would help users of streaming platforms is yet to be tested.
Technoblade NFT
These NFTs are inspired by YouTuber Technoblade, who passed away last month. The 23-year old gamer was very popular on YouTube , with millions of subscribers on his multiple channels.
Technoblade’s real name was Alexander, and his death after a long battle with cancer dealt a blow to his fans. It is not known what the NFTs launched under his name intend to do. The assets also do not appear to be released by the legal heirs of the YouTuber. Many online discussions claim that these new digital assets are trying to cash in on the legacy of Technoblade.
OpenSea has some of the Technoblade NFTs listed on its platform. It is also quite possible that NFTs using Technoblade’s name and fame are launched by more than one issuer.
Big names in NFT space
The above two are new assets and yet to sell at a high price. On the other hand, Beeple’s digital work, and virtual art images of CryptoPunk and BAYC are among the most expensive NFTs.
Bottom line
Revuto and Technoblade are the two new entrants to the NFT world with the former targeting streaming services’ subscriptions, while the latter is aimed at harnessing the popularity of a YouTuber, whose recent demise at the age of 23 hit headlines. The field of NFTs can be as riddled with scams as that of cryptos, and hence due diligence is always advisable.
Also read: Understanding basics of cryptocurrency taxation in Australia
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