August 12, 2022

Flow’s fully diluted market cap tops $40B as non-fungible tulips go on sale

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The NFT craze is showing no signs of slowing down with a newly launched NFT tulip collection epitomizing how some view the current state of the crypto art ecosystem.

The NFT collection appears to be an ironic reflection of the tulip mania-like status of the current NFT scene.

The collection is on sale on the OpenSea NFT market place as “113 unique algorithmically generated collectible Tulips.”  The NFTs were created by a digital artist going by the Twitter handle @jtbxl who has a number of pieces for auction on the Rarible platform.

‘Tulip mania’ refers to a period during the Dutch Golden Age when prices for some bulbs of the recently introduced and fashionable tulips reached extraordinarily high levels, and then dramatically collapsed in February 1637.

Angel investor Brad Mills made the comparison to his 26,000 followers on Twitter on March 11.

“In 5 years, people will look at the 2021 NFT craze as the Digital Tulip Bubble. Buying NFTs from celebrities, sports starts & social media influencers for tens of thousands of $ is like buying their hats & shirts for thousands of dollars.”

Investor and Ethereum advocate Ryan Sean Adams commented on how frothyTitle: Flow’s fully diluted market cap tops $40B as non-fungible tulips go on sale
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Published Date: Fri, 19 Mar 2021 04:35:18 +0000