Tesla CEO Elon Musk recently launched a new NFT project called “The Memes by 6529,” which includes a series of “Seize JPGs” images.
In response to the announcement, the reserve price of the NFT project skyrocketed by 23% within 24 hours, and the quoted bid price was 0.0975ETH. In addition, the transaction volume and number of transactions of the project increased by 2045% and 1000%, respectively.
One of the pieces of art referenced in the project, “Seize JPGs,” is currently selling for 1.88 ETH, or roughly $3,400. “The Memes by 6529” is a multi-season NFT project initiated by the well-known Web3 influencer Punk6529.
At the start of each season, artists create visual representations based on project cues like “Free Trade” or “Open the Metaverse.”
With the recent vigorous development of NFT, Musk’s involvement in this field is highly anticipated. While this isn’t Musk’s first foray into NFTs, it has garnered a lot of attention in the crypto community.
As NFTs continue to grow in popularity, it remains to be seen whether “The Memes by 6529” will maintain its momentum or face a price correction.
However, with Musk’s backing and the project’s unique artistic vision, it’s likely to remain a prominent player in the NFT space for the foreseeable future.