NFT Project with Random Numbers on Black Background Reaches $40 Million Market Value

With cryptocurrency gaining wide acceptance and popularity, non-fungible tokens have registered a successful presence among the younger generation of merchants. People are investing millions in pixel character images and jpegs, impressing a lot of people. But that’s not all. A lot of weirder things are happening. For an NFT project, which can be described simply as white text on a black background, merchants are spending what to some is an annual salary or a property down payment. This new project is a set of eight randomly generated numbers from 0 to 14 stored in a blockchain.

An NFT is a unique digital token linked to a digital asset – such as an image, video, tweet, or artwork. They offer a blockchain-created certificate of authenticity.

Project N has achieved a market value of 10,256 ETH (Ether coins, which translates to around $40 million or INR 294 crores). In just three days of release, it became the fifth most popular NFT project (currently the seventh according to Opensea.io). It makes us wonder why anyone would invest thousands of dollars in such a random set of numbers. But it seems to be more than meets the eye.

Some might say that the anonymous creator of The N Project is cashing in on the popularity of the Loot project, which displayed 8 random words in white text on a black background and invited people to give meaning to those words through art, games, of the metaverse etc.

Several developers are using these numbers to create art, profile pictures, animated art, and even a war card game. There were also discussions about building a metaverse, a shared virtual landscape where participants can interact with each other and where you get land based on your N properties.

For all the fun and excitement of the project, there is also extreme risk associated with it. But Project N quickly found a community – within the first three days of its release. Furthermore, this project will take time to develop and grow. Until then, getting a deeper understanding of The N Project (and projects like Loot) is the best way to feel more confident about the NFT landscape.


Interested in cryptocurrency? We discuss all things cryptography with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you want. you get your podcasts.

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