Ignoring crypto winter, Galaxy Digital’s Mike Novogratz calls inaugural NFT launch ‘Build for the Future’

Ignoring crypto winter, Galaxy Digital’s Mike Novogratz calls inaugural NFT launch ‘Build for the Future’

Despite the long crypto winter, Galaxy Digital and its CEO Mike Novogratz remain optimistic — ready to tell the world about the company’s first NFTs.

The 3,210 digital collectibles, announced Friday as part of the Galaxy Explorer Collection, will launch on October 14. And the NFTs will celebrate not only the company’s new logo, the square and circle resembling a space helmet, but also Novogratz’s confidence in the segment.

He said, “Crypto is going through a rough time, but we are still here.” luck. “We are building for the future.”

NFT sales have been down for several months. Transaction volume decreased in the most popular NFT market, OpenSea more than 12% Over the past 30 days, according to crypto-analytics platform DappRadar, which also over the same time period recorded the most popular group, Bored Ape Yacht Club, slip about 11%.

Despite this, Novogratz points to the adoption of the technology by major companies like Nike and major sports leagues like the NBA as evidence that NFT is here to stay.

In many ways [it] “It was easier to get people to understand blockchains through NFTs than it was through Bitcoin,” Novogratz said.

Created in partnership with Time’s Web3 TIMEPieces initiative, Galaxy’s NFT collection will feature designs from three creative artists: Jake Andrews, Parin Heidari and William Kwaku Amo. Eva Casanova, head of laboratories at Galaxy Interactive, a fund of Galaxy Digital, said they made the pieces using computer code to reflect their distinct patterns.

Casanova added that each NFT is unique, and by using the code, the artist gives each piece a number of different attributes, similar to collections like CryptoPunks. But unlike CryptoPunks, which have traded in hundreds of thousands of dollars, the company takes down free NFTs to employees, founders of portfolio companies, as well as industry partners. Although the pieces are not intended to be sold, if any, the proceeds will go to the artists.

We are not doing this as a financial endeavour. “We’re doing this to create spirit in our community,” Novogratz said. “We’ve been here for a long time.”

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