Hungry Wolves NFT – Why Do People Buy Them?
Hungry Wolves NFT (@HungryWolvesNFT) – Why Do People Buy Them?
Hungry Wolves NFT is a collection of 6,000 randomly generated wolves prowling the Ethereum blockchain as ERC-721 non-fungible tokens (NFTs). Out of 6,000 wolves, half of the wolves hold the rank of Alpha and the other half Beta. However, Beta wolves can challenge Alpha wolves for their metadata rank.
In December 2021, the team behind Hungry Wolves NFT announced major changes. They introduced the concept of Rank into the metadata for their Hungry Wolves.
To be clear, in spite of their name, Beta wolves are not secondary members of the pack or community. Beta wolves can do all of the same things as Alpha wolves. The art is identical, and they can also join Wolfpacks, collect and eat sheep, etc.
The only difference between them is their hunting prowess; Beta wolves retrieve smaller prey during regular airdrops.
Alpha, as well as Beta wolves, can eat both Scrumptious Sheep and Lil Lambs. The difference is which one they Alpha and Beta wolves automatically earn during airdrops. Both Scrumptious Sheep and Lil Lambs are NFTs with unique visual traits as well as rarity.
Adam Hollander and Hungry Wolves NFT
Do you know who created Hungry Wolves NFT? Let’s find out!
It was created by Adam Hollander. He is a serial entrepreneur and has spent the last decade launching and growing successful companies.
For instance, he founded FantasySalesTeam, a gamification platform that encouraged employee motivation through interactive competition. FantasySalesTeam was acquired by Microsoft several years ago, more precisely in 2015. It is fully integrated into Microsoft Dynamics CRM. After spending two years with Microsoft as their Director of Gamification, Adam Hollander joined a medical education startup.
He joined OnlineMedEd, in 2017 as their COO and fourth employee. He spent several years with the company, which now boasts hundreds of thousands of users.
Hollander has now turned his attention to a unique as well as a fast-growing market: NFTs. They have been taking the art and collectables world by storm with billions of dollars in sales and certain high-end collections like Bored Ape Yacht Club generating hundreds of millions of dollars in revenue.
Last year, Snoop Dogg sold NFTs, which provide 1,000 VIP access to his virtual mansion in the metaverse.
For instance, one of the most popular types of NFT projects are called generative collections. Notably, this is where a piece of artwork is adjusted dynamically based on randomized traits. This makes certain NFTs in a collection rarer than others as well as simply more aesthetically pleasing. Communities have developed around hundreds of these projects as well as holders like Snoop Dogg and Jimmy Fallon are now leveraging NFTs to represent their digital identities.
Hollander and his project
Using his experience in game mechanics and motivation, a software veteran launched a new NFT generative collection called Hungry Wolves in 2021. More than 1,500 people joined the project’s Discord server on the first day.
Beyond boosting a Pixar-like 3D rendered network, each of Adam Hollander’s NFT wolves represents entry into a competitive landscape with other holders. Each owner has access to a website called The Wolf Den. Inside, users are eligible to join Wolfpacks with friends based on the visual generative traits of their wolf.
One of the most interesting NFT Projects
There are many NFT projects, and it is hard to discuss all of them in one or several articles. As we already discussed Hungry Wolves NFT, we can discuss another interesting NFT. However, we will return to Hungry Wolves NFT at the end of the article.
If you plan to join the NFT community, it makes sense to learn more about NBA Top Shot.
It is ushering in a new era of digital basketball collectibles in the form of NFTs. More importantly, this marketplace combines an experience akin to collecting traditional sports trading cards with the blockchain technology used in other NFT platforms.
Let’s gather more information about the NBA Top Shot. It is an NFT marketplace where sports fans can buy, sell as well as trade basketball video clips.
This NFT marketplace is the result of a partnership between the NBA and Dapper Labs, the creators of CryptoKitties. High-profile investors of NBA Top Shot include the NBA legends Michael Jordan, Klay Thompson, and Kevin Durant.
The NBA Top Shot is run using Dapper Lab’s Flow blockchain and allows users to trade digital assets based on video clips from NBA games. Dapper Lab’s Flow blockchain supports transactions on a range of other sports NFT marketplaces, like UFC Strike and NFL All Day.
As of September 2021, the platform had more than 1 million registered users.
Interesting facts about NBA Top Shot Moments
What you need to know is that Moments are the video highlight clips sold as non-fungible tokens on NBA Top Shot. Similar to conventional sports trading cards, Moments increase value based on their rarity.
To the people who are unfamiliar with NBA Top Shot, a Moment is merely a video clip of a specific game, a LeBron James dunk, for instance. So, you might ask, “Why would any person pay money for video highlights they can watch for free on YouTube?”.
We need to mention that Moments are more than just highlights. As in the case of other non-fungible tokens, which represent real-world items, each Moment is an NFT that’s officially licensed by the National Basketball Association (NBA) as well as minted with a unique serial number and data including game as well as player stats.
There is also a status of owning a piece of basketball history. Non-fungible tokens are like a certificate of authenticity: The technology behind them makes it difficult to duplicate or counterfeit them.
Think of a Moment like owning a piece of art. Sure, you can go online and print a copy of the Mona Lisa, but it’s nowhere near as valuable-or and prestigious as owning the real thing.
Besides, if you or your friends love basketball and NBA in particular, NBA Top Shot Moment is for you. As you can see, people can choose from a wide variety of NFTs. You can pick Hungry Wolves NFT or NBA Top Shot Moment, etc.
Prices
As in the case of all NFTs, a Moment is only worth what a buyer is willing to pay in the secondary market. Rare moments from world-famous players can go for hefty sums, while others sell for just a few dollars.
Based on the information provided by the site CryptoSlam!, one of the most valuable NBA Top Shot Moments is a LeBron James dunk from a November 15, 2019 game, with 49 mints. Unsurprisingly, not all Moments are that expensive.
Similar to trading cards, Moments are finite, and NBA Top Shot determines how many to release at once. Hence, getting a Moment that is 1 in 49 is more valuable than one that is 1 in 11,000.
The scarcity is, to a certain degree, manufactured since the platform releases Moments on its website in digital packs via limited events called “Drops.” However, drop times vary, so users must stay tuned for announcements.
Wondering how you can buy a Moment? Firstly, you have to sign up and get verified on the official NBA Top Shot marketplace.
Don’t forget that only verified users can make purchases with a credit or debit card (Visa or Mastercard). Another option is to use a crypto wallet with Ether, Bitcoin, and Bitcoin Cash, and the Ethereum variations of Dai as well as USD Coin.
The platform also hosts a robust secondary marketplace where fans can buy, sell, trade, or gift packs or individual Moments.
One of the most important questions: “Can you make money on NBA Top Shot?”
There is no lack of epic tales of iconic NBA Top Shot Moments selling for astounding prices.
As in the case of physical trading cards, Moments’ value depends on supply and demand. NBA Top Shot Moments produced in greater quantities, or featuring lesser-known players, aren’t worth as much as a LeBron dunk.
While some early adopters have accumulated collections worth millions of dollars, these NFTs are like any investment. Nevertheless, past performance is not a reliable predictor of future results, especially if the market is cooling off.
People should pay attention to other risk factors as well. Similar to any investment, it is entirely possible to lose money on NBA Top Shot’s NFTs. For example, some collectors have reported purchasing packs, then discovering the Moments inside are worth less than the cost of the pack itself. Also, there are no guarantees that a seller will be able to sell their Moments to a buyer ready to pay the asking price.
Should I buy Hungry Wolves NFT or not?
Now, we can return to Hungry Wolves NFT. There is no lack of NFT projects. However, people still find Hungry Wolves NFT attractive, and let’s find out why!
As previously mentioned, Hungry Wolves is a collection of 6,000 gamified NFTs that allows holders to join wolfpacks as well as earn status and rewards.
It is recommended to learn as much as possible about Hungry Wolves NFT. So, all you need to do is type “Hungry Wolves NFT” as well as “Hungry Wolves NFT rarity” in the search bar.
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