The rise of non-fungible tokens (NFTs) and the increasing adoption of them by mainstream businesses continues to surpass expectations as more and more individuals and companies are pushing to experience the NFT ecosystem.
Following the display of several collectibles by creators and artists in the NFT ecosystem, a blockchain company, OverHyped, is busy purchasing yachts for their NFT holders to use and experience the joy of being in an NFT space.
The company is buying a yacht in California for holders of its panda NFTs to use as part of its plan to expose its customers and ensure to have numerous uses built into the ownership of NFT.
Why The NFT Experience?
The CEO of OverHyped, Danny Davies, believes that many experiences are lacking in the NFT. The NFTs should not be concerned with only the arts. OverHyped is looking to fill the gap by providing its customers and community something different.
Davies revealed that OverHyped aimed at creating something in NFT similar to Discord by bringing its community together, and the best way to do that in the NFT is by investing in a yacht.
The CEO also shed light on the OverHyped NFT series, which consists of 5,000 pandas drawn manually with each panda display inspired by pop-culture luxury garments and accessories, including jewelry, headwear, and sweaters.
More importantly, all the NFT pandas feature blockchain costumes. That means that once an NFT is purchased, customers are given a unique designer hoodie that depicts an individual’s NFT preference.
Interestingly, OverHyped also enables users to verify the authenticity or owner’s profile of a given NFT through their phone, among other features. Davies added that users’ digital art no longer exists on a hard drive.
Interested buyers of the NFT pandas have four pricing options to choose from. Each pricing tier is based on the probability of picking a rare panda by chance. OverHyped sets customers can only validate the starting price for minting at 0.25 ETH and buying via the company’s transaction platform, OverHyped.io.
Other Planned Experiences
According to OverHyped, other purchases for use by the community are in the pipe, including luxurious merchandise known in real-life and VIP access to exclusive OverHyped events and shows like festivals, conferences, and others.
Origin Labs Inc. is the parent company of OverHyped, which developed unique and patented NFT technology to authenticate products in many industries like retail and agriculture. The company handles it by seasoned professionals like venture capitalists, scientists, packaging experts, and others.
As it stands, it isn’t easy to know if the recent move by OverHyped to add another dimension to the NFT experience would turn out to be a welcome development in the NFT ecosystem. Some NFT insiders argue that it is perhaps another way to dispose of NFT collectibles that buyers are not interested in taking a plunge at. Perhaps in the future, everything will be clear, but doubt remains if this is an exciting development for NFT.