Non-Fungible Tokens or NFTs are the newest craze stemming from the cryptocurrency niche and the eSports world has happily embraced the new medium. According to data presented by Wette.de, European eSports organization OG eSports sold $978K worth of NFTs in three separate drops throughout the year, one of which amounted to $511K on its own.
OG eSports’ 3 NFT Drops in 2021 Nearly Worth A Million Dollars; July 6 Drop Worth More Than Half A Million On Its Own
Crypto-gaming is a relatively new niche but many in the gaming industry are excited at the potential the crossover ultimately has. NFT’s are particularly of interest in the gaming world as it allows for in-game items and characters to be monetized in a completely new and lucrative way.
Besides the existence of NFT games, eSports teams are also seeing the potential in the new medium as a way to quantify and monetize their stature in the gaming world. In 2021 European, eSports organization, OG eSports had three separate NFT ‘drops’ on three separate dates throughout the year; January 23, March 28, and July 6. The combined value earned from these three drops is estimated to be $987K.
The July 6 drop included 10 digital artworks that are associated with 3,336 NFTs amounting to a staggering $511K on its own. This makes OG Esports’ July 6 drop the single most expensive NFT drop in the eSports market to date. Notably, esports team NAVI also sold an NFT based on its NAVINATION Season 1 Cup that amounted to $100K in March.
Rex Pascual, eSports editor at Wette.de, commented:
“The gaming world and the new niche of NFTs have the potential to be a match made in heaven. Big names from the gaming world and pop cultures such as FaZe Banks, Nadeshot, and Logan Paul have spent thousands of dollars in crypto’s latest niche adding further fuel to the explosive potential of NFTs.”