Angry Bears NFT Explained
NFTs are a massive deal in the crypto space right now. Among the many non-fungible tokens to burst onto the scene is Angry Bears NFT.
Before we discuss Angry Bears NFT further, let's understand more about NFTs.
What are NFTs?
A non-fungible token (NFT) is financial security consisting of digital data compiled on a blockchain, establishing ownership.
The owner can transfer this, enabling NFTs to be sold and marketed. NFTs can be created by anybody with few or no coding skills needed.
They are bought and sold online with cryptocurrency and commonly encoded with the same underlying software and as many cryptos.
They have been used to demonstrate ownership of digital files, including artworks, music, videos, and a range of 'collectibles'.
Non-fungible tokens have become big business, with some examples changing hands for more than $100 million.
What are Angry Bears NFTs?
Angry Bears NFT is a collection of digital artworks stored on the Elrond blockchain. The collection was established by co-founders Horatiu and Rares.
As the name suggests, each NFT is an image of an angry looking bear. The artworks are intended to be cool and unique.
The first drop was December 15, 2021, when 1,000 sold for 0.3 EGLD. On January 30, 2022, another 1,000 pieces sold for 0.45 EGLD in fewer than 60 minutes.
The next round is expected to be for 0.5EGLD (plus gas fees).
The founders say the supply of male bear artworks is 9,999, with just over 2,000 sold. The intention is to introduce breeding so that owners of one male and one female bear will be gifted a baby bear that they can sell.
They also intend to have an exclusive habitat in The Sandbox.
You cannot choose the one you want, as the distribution of these NFTs is completely random.
To mint an Angry Bears NFT, you need a Maiar exchange app and minimum funds of 0.52EGLD on your account.
Author: Brendan Beeken
Moni Talks Founder and Chairman Brendan Beeken is an entrepreneur, commercial strategist, investor, and philanthropist. He writes on a wide range of subjects, including cryptocurrency, decentralised finance, blockchain, business advice, and professional wellbeing, for news and business websites, as well as Latest Moni and his personal site, brendanbeeken.com. Brendan draws from his own research and more than two decades of personal experience in business to offer a unique insight, perspective, and commentary on diverse subjects. He is passionate about making the cryptocurrency space more accessible and encouraging safer and more responsible trading and investing. Brendan's LinkTree is https://linktr.ee/brendanbeeken.