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Saturday, September 25, 2021

A Look into AnRKey X: DeFi Gaming in the NFT World

This post was originally published on Hackernoon

Elizabeth Levine Hacker Noon profile picture

The word of the past couple of weeks is NFT; non-fungible-token. We saw this trend developing from something untouched to something that’s bridging the gap between mainstream industries and our beloved decentralized world. NFTs not only create wealth, they represent scarcity through collectibles like we’ve never seen before. Physical baseball cards will never be the same after the adoption of NFTs. 

NFT sales skyrocketed last year to over $250 million as cited by CNBC. However, that’s honestly just the start. 2021 will be the year of NFT’s. With major players like the NBA selling NFT’s via NBA Top Shots for more than $30 million, we see more and more mainstream players entering the space. More recently, a project like Ethernity entered the space creating authenticated NFT’s by celebrities like the WinkleVoss twins, Muhammed Ali and Bruce Buffer to just name a few. This goes to show that the market is just getting started. 

NFTs in the Art World

Another piece of that puzzle are artists, finally capable of having a true way of authenticating their artwork piece for piece and creating secondary markets like never before. Giant artists like Banksy, Beeple and BossLogic have already entered the space. More importantly, even the traditional art world is adapting the NFT trend. Arthouse Sotheby’s generates an NFT for each art piece that’s being auctioned through their hands. 

The rise of NFTs has a lot to do with their authenticity and flexibility as they can be used for digital artwork, memes, pieces of virtual land, certain rights in musical works, and many other use cases. Earlier this year, a single day’s sales of NFTs outperformed the sales from the whole of 2020, suggesting that much more growth lies ahead this year.

The past couple of weeks have been a true whirlwind for AnRKey X, the innovative DeFi Gaming project has been working on their platform, and their unique NFTs for months now to share the first previews, and first actual rare drops only in the past couple of weeks.

Reality rose above expectations, breaking both their own systems as well as NFT marketplace Rarible. In a collaborative effort with their community, the project managed to take the #1 spot on Rarible, one of the most prominent NFT marketplaces. To think that this is just the start for AnRKey X is the most exciting part.

What happened on Rarible?

Let’s take you back to March 3rd; AnRkey X dropped its GenSys.X NFT collection. With various designs and various collection sizes, the entire collection took the Rarible platform by storm.

The GenSys.X collection took the number one spot on Rarible within an hour of releasing, even briefly crashing the site due to the high level of demand.

AnRKey’s team shares their excitement in seeing one of their first creations coming to life and exceed all of their expectations. Now, the demand didn’t last just one day, it continued throughout the week. 

The team sold over 120 ETH worth of NFTs on the first day of the release; that’s more than $200,000 at the time of writing. That number one spot belonged to AnRKey X for the rest of the day, and the runner-up barely did half of the volume. On top of that, all NFT holders are making bank from this first drop! Secondary market sales hit up to $47,000 per NFT, a 13,602% increase from the original $343 per NFT price.

Over the last 30 days, AnRKey X’s NFT sales volume was in the top-10 in the entire world on Rarible.com leaving behind big names like Mark Cuban and other giant NFT legends. One should not underestimate this achievement for a relatively young project that’s paving its way to the top in a month where more than $100 million passed hands in the NFT world. 

AnRKey X is the first company to merge DeFi, esports gamification, and NFTs to create a whole new industry called m$ports (money sports). Anyone in the world can compete, purchase and stake unique NFTs to win valuable rewards.

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