The Nightly Mint: Daily NFT Recap

It’s the final Mint of the week before we head into the almighty weekend. NFTs are closing out strong in today’s headlines, as Yuga Labs makes a massive acquisition and the entertainment industry continues to embrace NFTs.

It’s another bite-sized report to keep you up to speed on all things NFT from today. Let’s jump in.

The Nightly Mint Latest Mint: Bored Apes Meet CryptoPunks & Meebits In Massive NFT Acquisition

If you can’t beat ’em, join ’em. Yuga Labs, the creators of Bored Ape Yacht Club, are bringing in two of the biggest NFT projects that the space has seen in history – CryptoPunks, and Meebits – under their wing, according to an announcement today. The acquisition of Punks and Meebits comes from their original creator, Larva Labs, with undisclosed terms.

The move solidifies Yuga as a power player in the NFT space, holding arguably the three biggest serialized NFT projects that the space has seen to date.

Related Reading | Dogecoin Sees Rapid Accumulation Following Price Drop To $0.11

Growing NFT projects are continually looking to Ethereum alternatives, but some of the biggest projects - some of which saw consolidation today - are still Ethereum-based. | Source: ETH-USD on TradingView.com More Music Madness, Courtesy Of AEG & Autograph

In yesterday’s Mint, we covered crypto exchange FTX partnering with mass music festival Tomorrowland. More big entertainment news dropped today, as live performance and venue management firm AEG announced that they have signed a multi-year deal with growing NFT platform Autograph. The partnership will kick off in two weeks at New Orleans’ BUKU Music + Art Project festival; AEG and Live Nation dominate the live performance industry, making today’s move a major milestone for NFT integration at live engagements.

The ‘Minty Fresh’ Take

Acquisitions like today’s move with Yuga Labs will likely be reflected on in future years as major milestones in the broader growth of the NFT market. What does the future hold for NFT consolidation?

The next couple years in NFTs is going to be an interesting split in the market. There will be M&A in the more centralized side around the IP of brands/startups and then a traditionalist decentralized side will also emerge with strong supporters.

— djohnson.eth (@DJohnson_CPA) March 12, 2022

Related Reading | Bitcoin Outflows Spike As 30K BTC Exits Exchanges, Reserve Plunges Down

Featured image from Pexels, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.


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