Strangely enough, the NFT market is quite alive compared with the crypto news today markets. Despite Ethereum’s price having been free falling after the Merge, some of the blue-chip NFTs are seeing strong buying power. And last week’s protagonist is none other than the RENGA series.
Like what always happens, even when Bitcoin, the crypto of all falls, there will often be 1 or 2 altcoins that managed to escape punishment. Chiliz (CHZ) was the altcoin that shined last week. It was a crypto token launched back in June 2019 that can be used to acquire fan tokens. CHZ is working together with a decentralized sports app called “Socios.com”, an all-in-one fan influence & rewards app for sports fans. While many of us might not be familiar with Socios.com, it’s one of the most popular sports apps in the Eurozone. CHZ has been growing significantly due to numerous partnerships in the sports industry, lately being the official partner of the 2022 Ballon D’or awards, and also their migration from Ethereum to its native chain, CHZ 2.0, has helped rally the coin and defied the bear market.
As a passionate NFT collector, I noticed that the NFT market is actually turning good compared to the past few weeks. However, it did come with a small price. According to the NFT analytics platform NFTGo, the blue-chip index was turning upwards from its slump last week, yet the monetary value of these NFTs was going in the opposite direction, due to Ethereum’s price fall. There is a saying in the crypto scene, “1 BTC = 1 BTC”, and so does ETH, in the view of NFT enthusiasts at least.