After months of meticulous work on the 4,000 bespoke 3D-rendered District Homes, the ZTX Web3 platform undertook the last sale of the Genesis Homes NFT collection on August 30. Interestingly, the sale of the ZTX Genesis Homes NFT collection at the OpenSea marketplace sold out during the first day of market debut. As a result, owners of the ZTX District Homes can accept bids on their NFTs or utilize the products for immersive 3D interactions. Notably, the ZTX Genesis Homes NFTs are available through the Ethereum layer two (L2) scaling solution Arbitrum.
Why ZTX Genesis Homes NFT Collection Matters to Crypto Investors
The adoption of blockchain technology by mainstream investors has been touted to take place between 2022 and 2030. The cryptocurrency industry is undoubtedly the biggest use for blockchain technology, with the Non-Fungible Markets (NFTs) playing a crucial role. By the end of the crypto bull market in 2021, most investors perceived NFTs as JPEGS on the blockchain hyped to make profits for the creators.
Two years down the line the NFT market has grown into a mature industry recording billions of dollars in traded volume every quarter. For instance, the ZTX Web3 platform recently raised $13 million in its seed funding round led by Jump Crypto with notable contributions from Collab+Currency, Parataxis, MZ Web3 Fund, and Everest Ventures Group.
As a result, the ZTX Web3 platform has been able to push the adoption of its 3D immersive products to global markets. For instance, the ZTX Genesis Homes NFT number 3,311, which is owned by Kaz-v, has a price tag of about 1,500 ETH. Nonetheless, the current highest bid on the specific NFT collection is about 0.19 ETH.
“The wait for Genesis Homes was very long on the community’s part. The four different districts that the Homes would be categorized into, the high fidelity of the 3D houses that was shared in teasers, and the overall positive news that ZTX has been at the center of for many weeks definitely spiked interest for this mint,” Beleng44, a community manager and moderator for the ZTX Discord server, noted
What ZTX Leaders and Investors Had to Say
The ZTX Genesis Homes NFT collection was undeniably meticulously designed, thus quenching the imagination of most collectors. Moreover, the NFT collection sold out within the first day of its market debut.
“To be honest, it’s a really innovative product design. Other crypto metaverse projects sell land, and that is a model that has worked well in terms of revenue, but to me setting a finite cap on the number of plots of land in a project and selling that land is like Instagram or TikTok setting a limit on the number of user accounts that can have their profile pages,” Alexx, Chief Futurist and creator at ZTX, noted.
Alexx added that the Web3 Virtual land and homes are the 3D versions of profile pages on social media. As such, Alexx highlighted that the virtual lands should be free to claim for any new user in a bid to facilitate mainstream adoption.
“ZTX offers free land and homes, and the Genesis Homes we sold are simply premium membership passes that yield different benefits down the road, like a platinum tier blue check or verified badge,” he added.
Similar sentiments were shared by Julian Gropp, partner at Parataxis Capital, who added that the ZTX Genesis Hole mint saw significant participation from institutional investors.
“… Whether small or large, the investor types getting a piece of ZTX have been diverse and that type of wider appeal is something to be bullish about,” Gropp noted.
According to ThankYouX, a popular NFT artist, the idea on ZTX 3D is extremely appealing and he is considering running for mayor. The NFT influencer also noted that he has accumulated several Genesis Home mints. Luke Xiao, business development manager at Offchain Labs, concluded that the ZTX’s Fashion District and Art Districts will be very helpful to the Arbitrum ecosystem as it advances in the respective categories.