The dynamically developing oil market is slowly attracting companies from the Warsaw Stock Exchange. Especially small organizations try to use the principle of “first come first served” to gain an advantage in this way.
According to Chainalysa, which analyzes transactions based on blockchain technology, the word “dynamic” is a low term for a market where turnover will rise from about $ 100 million to $ 40 billion in 2020, according to Chainalysa. .
Digital painting, home or sneakers
It is not without reason that the editorial staff of the famous Collins dictionary recognized the abbreviation NFT. (non-replaceable, non-replaceable badge) For the word 2021. This is not only the effect of digital art sales, value tokens and record amounts being sold, but also the increasing use of NFT to define itself and its status in virtual reality and metaversum.
Locking, otherwise the word 2020, has caused people around the world to spend more time online, changing their social lives and jobs. Virtual reality didn’t make it more important what brand of clothes we wore to work remotely during a meeting at Zoom, or what purse or watch we wore on our wrists. At least it seemed so, because human height is something that, along with curiosity, provides the biggest social media gain.
Thanks to the wide range of use of tokens, it has become clear that by acquiring a fake certificate confirming that we have a unique, technically unchanging and specific digital file, we become the owner of works of art, collectors’ items or even their own. virtual real estate (the first virtual house was sold for about 2 million PLN).
In December, Nike announced that it had acquired NFT start-up RTFKT Studio to sell its legendary sneakers at Metavers. We can paste the NFT destination into our social media account or post and show the whole world what we really have, what metaversum areas we are interested in, or what user circles we are in.
RTFKT is now part of NIKE, Inc. family. 🌐👁🗨 pic.twitter.com/5egNk9d8wA
– RTFKT Studios (@RTFKTstudios) December 13, 2021
In addition, we can trade these unique tokens through blockchain networks where digital ownership certificates are written. So far, this has facilitated the development of the digital art market thanks to the resolution of the issue of property rights and the originality of the acquired “masterpiece”. According to experts, the whole system and the associated euphoria has led to a speculative bubble. Because according to UBS and Art Basel (The Art Market Report 2021), how does $ 40 billion in the NFT market compare to a global (analog) art market worth $ 50 billion at the same time?
Get paid for blockchain games
Applications of NFT tokens also cover their functionality in the long-running online industry, ie the gaming market. The blockchain network based on cryptocurrencies and NFTs is also used for the new “game-win” formula, ie for games in which the user gains new levels and acquires a digital wallet, cryptocurrency or tokens in the game. if he wishes, he can exchange it for the money he often uses.
Thus, blockchain games open new opportunities for players to earn money in virtual reality. Games like Axie Infinity (a game similar to Pokémon Go), Crypto Kitties, Sandbox and Sunflower Farmers gained about 1.4 million users in a short period of time, and the market capitalization of “game-pot” tokens was estimated at about $ 24.7 billion. did. DappRadar and CoinGecko – quoted in Frances Yue’s MarketWatch article.
Earning while playing or otherwise wasting your time on the game is not new, but blockchain technology and smart contracts allow you to safely develop this potential of game production. Smartcontracts are smart digital contracts stored in a blockchain network that, once the conditions are met, offer fast and secure execution of the contract without the need for intermediaries (such as a bank).
Is sinking NFT going on?
The growth rate of interest in NFT has also affected the Polish stock market. Several small companies, especially in the gamedev sector, have officially announced that they will commercialize blockchain technology and NFTs based on them. At the end of the year, some of them boasted about NFT projects, which usually resulted in a temporary increase in stock prices. Below we present the official companies involved in NFT and tokenization projects.
It is a company that has been looking for its identity for a long time, at least as a result of frequent renaming and business strategies that are updated from time to time. Listed on NewConnect, it started as Domenomania.pl in 2018 to move to Blockchain Labs and take advantage of the cryptocurrency trend at the time. In April 2019, they announced a profile change from the hosting company to the game developer, and as a result changed their name to the current one. Recently, Andrzej Klesyk, former president of PZU and founder of Inteligo, appeared in the joint-stock company.
The company has announced that it will participate in projects with Metaverse and the expansion of games produced with popular NFT tokens. The announcement, published on November 29, 2021, did not escape the attention of the market, as a few days ago the stock price rose by about 220 percent as a result of the spread of information that Rockbridge exceeded 5% in the shareholder structure. Up to 1.56 PLN per share in 3 sessions. Currently, it is again a penny company, and exchange rate fluctuations are part of the volatility observed in bitcoin, whose short name (BTC) is assigned to the company as a ticker.
Prime Bit Games
Another representative of NewConnect is Prime Bit Games, which has already reported on the introduction of blockchain technology in its games in 2019. At the end of December 2021, the company signed a contract with the Estonian company DA Games for the production of a card game using the working name The Legends of Elysium using NFT technology. The salary is 900 thousand manats. PLN (revenues after the 3rd quarter of 2021 amounted to 184 thousand PLN) and the date of completion by the end of 2022. NFT raised the price by more than 38% in its announcement. within a few sessions.
There are no Gravity Games and ShockWork Games
The studios have partnered with unlisted Cave Games, which is committed to co-developing, publishing and managing video games based on blockchain technology or NFT solutions. No Gravity Games will not act as a publisher in this trio, ShockWork as a producer, and Cave Games as an organization with blockchain knowledge will do so in joint games. First of all, it will be enriching the titles with NFT elements and the “pot to play” model. The first title is “Pirates: All Aboard!” will be the game. and should be released in the first half of 2022, according to the companies.
In the case of No Gravity Games (formerly known as Fat Dog Games), the announcement in late November did not impress investors, and the price is slowly slipping towards long-term lows.
This was similar to ShockWork, which was involved in a tripartite deal, although in this case the company announced in mid-December that it was an independent project and began selling its first NFT collection related to Alder’s Blood game. The collection available on the Atomichub platform consists of 666 cards in 10 designs and an additional special card.
Skinwallet was mainly engaged in trading digital goods used in games on its platform. The company bases its activities on the commercial method of mass purchase of “skins” used in the popular multiplayer game “Counter-Strike: Global Offensive” and their profitable sale to subsequent users. Revenue concentration and weak diversification have led to a slow decline in prices since the company’s debut at NewConnect and more than 70% of sales. Hurrayoptimiz was inspired by the news that it will enter the oil market on November 4, 2021 with its first project called “Cyber Warriors Army”. Within a few days, the ratio increased by almost 120%, but in December it was already at pre-break levels and thus at historical lows. Meanwhile, a list of subscriptions for 8,000 tokens, each with an issue price of 0.05 ethereum (currently about 670 PLN), has been announced.
The company has announced the tokenization of an e-commerce platform project with a partner who develops the BIOinLIFE token. It will play a consultative and organizational role in the field of capital and investment security. The platform will be equipped with cryptocurrency payments and will be expanded to its own decentralized cryptocurrency exchange, where token exchange will be possible between website users. After a temporary increase on the day of graduation, the rate returned to decline.
The company operating in the real estate market has decided to test itself in the field of technology. Its goal was to commercialize and develop the IFO2020 (Identified Flying Object) drone. Interestingly, the company is not the owner of the project, but its inventors have undertaken to issue an exclusive license to Letus. In December 2021, he announced the signing of a token issuance and invention tokenization agreement with the specialized Mosaico platform. The sale of tokens is to help build a prototype of a drone and increase capital for its commercial production. The concept, announced on Friday, December 10, was evaluated on Monday, December 13. After a temporary 16 percent increase. At the end of trading, the fixed rate was less than 3 percent. is higher than before posting the message.
The company announced in April 2021 that it had joined the Blockchain Game Alliance, one of the largest companies promoting blockchain in the gaming industry. These include Ubisoft, Atari and AMD, among others. BGA allows its members to share knowledge, build partnerships and build business relationships. The company’s goal is to cooperate in the application of NFT tokens in its production, starting with the game “Community Paintball VR”. Despite the announcement of the premiere, which did not take place in the 3rd quarter of 2021, the article in the latest update of the publication plan is not in the short list of subsequent premieres (2 titles). However, the April data was not important for investors trading in this penny company.
To speculate or to invest?
The examples presented are for small companies that have not done their best lately (at least in terms of listing on the stock exchange). In their announcements, NFT is seen as an attempt to join the global NFT fashion, based on the principle that the tide lifts all ships (boats).
The NFT mania, which became popular in March when the artist’s Beeple collage sold for $ 69.3 million at Christie’s, is a milestone that the market must go through as it strengthens and stabilizes. In the context of new technologies, especially in Poland, the problem of the backward legal system is a separate topic of discussion. Gaps or incomplete gaps create perfect conditions for fraud and speculation. In the case of NFT, these can be an example
so-called washing trade – when an enterprise has two sides to the transaction and creates a false impression of demand.
Examples from the Polish stock exchange do not represent the Polish companies most involved in NFT. In Poland, there are already those who are far ahead of the above-mentioned plans and projects in the oil market. Desa has already started offering for the art of oil. We will probably see in which direction the presented ideas will develop this year. Let there be no other marketing attempt by the Merlin Group to deceive investors, such as the cryptocurrency boom or the confusion of the balance sheet with valuations in Black Pearl.
Keep in mind that there are speculators in the market who want to make quick money on a fashionable topic and are actually interested in projects that have a chance to succeed. And there are whales – as the cryptocurrency market describes the big players with most of the resources.
As of November, there were 360,000 NFT owners, about 9 percent of whom owned 80 percent of the market value, according to Chainalysis, quoted by the Financial Times.