OnChain Lens, an on-chain analyst, claimed that Vitalik Buterin, the founder of Ethereum, made news with NFT activity. Vitalik minted 400 Patron NFTs after bridging 32 ETH from the Ethereum blockchain to Base.
The Patron NFT project is tied to the Truemarkets Fair launch event, where more than 40% of the TRUE token supply will be distributed to Patron holders during the token generation event (TGE).
There are a total of 15071 Patron NFTs available for sale with a coin price of 0.08 ETH per. Each NFT holder is eligible to receive 666.67 TRUE tokens per NFT.
Since the crypto market seems extremely bullish at the moment, there is hope that the NFT trend like 2021 could return. It was a golden age in the NFT universe when a single NFT from famous collections like Bored Ape Yacht Club (BAYC) sold for millions of dollars.
Vitalik Buterin’s influence ensures return of the NFT trend?
The concept of NFT became exceptionally popular in 2021 and 2022. Unfortunately, the hype died after catastrophic events in the crypto market in 2022. This fall wiped out many NFT projects and terribly reduced their market caps.
However, some experts are calling it a ‘bubble burst’, which was most needed to curb the hype over nugatory projects. They believe the trend will return with more robust and sustainable NFT projects. For example, brands like Nike and Puma are now using NFTs to promote their new shoe collections.
In the last 24 hours, a 25.72% increase was seen in Ethereum NFT sales volume. On the other hand, the Solana blockchain has also experienced a jump of 8.14%. However, Bitcoin NFT sales volume is still declining, down 24.79%.
Will Vitalik’s activities with PatronNFT help the overall industry gain mainstream adoption again?