If you are a fan of NFTs, you already know about Emblem Vault. According to CryptoSlam, the NFT project Emblem Vault has grown into the second-biggest NFT project over the past month. Over the last 24 hours, over $5 million in Emblem Vault NFTs’ deals volumes became available. About 300 purchasers made this possible in 607 exchanges.
If Emblem Vault can create $9.5 million in deal volumes through the Pokémon-Esque blockchain game Axie Infinity, it will become the greatest NFT project of all time. However, Emblem Vault is still $4 million ahead of notable NFT projects such as the Bored Ape Yacht Club and the NBA Top Shot.
What Is an Emblem Vault NFT?
In September 2020, Emblem Finance started investing in Bitcoin and Ethereum. Emblem Vault is an Ethereum-based NFT that works like a multi-resource wallet. They allow their users to exchange the arrangements of solitary token fungible cryptocurrencies and NFTs.
Each Emblem Vault NFT is marked with a series of blockchain-generated addresses using a single seed phrase. Each address can contain different digital resources at any time. Additionally, if you don’t have the private keys, i.e., the address, you cannot send the resources (assets or tokens) to other wallets.
Emblem tokens are wrapped up as modern ERC-721 NFTs. These are the same type of tokens that NFT, e.g., OpenSea marketplaces, use. If you have an NFT predating ERC-721 NFTs, then you can trade on the Emblem Vaults project.
An example of a popular Emblem Vault NFT is Pepe the Frog. Earlier in September 2021, a classic RarePepe NFT sold for 147 ETH or $200000. It was a digital depiction of Bitcoin creator Satoshi Nakomoto in classic cartoon ‘Pepe’ format. Similarly, EthPepe sold for 100 WETH or $330000. It was a pepe of Ethereum co-founder Vitalik Buterin. The dollar amounts don’t reflect current Etherum market prices. Another valuable NFT in the Emblem Vaults project is a Spells of Genesis SatoshiCard, which also sold for more than 90 ETH.
The Growth of Emblem Vaults NFTS
The success of Emblem Vaults NFTs is that collectors are now seeking out the original NFTs. These are one of the first NFTs ever released on any crypto platform. Emblem Vaults has some great finds for creators looking for early-development NFTs.
Collectors are also enjoying the Emblem Vaults feature that allows them to put their portfolios together in a single token. They can have their NFTs and traditional crypto in their multi-asset wallets. Consequently, they can trade them or move them around as a collective, making the process easier.
What Next for Emblem Vaults NFTs
Despite the deals volume’s quick rise on September 16th, 2021, from $1.7 million to $6 million, the growth was unsustainable. As of now, Emblem Vaults deal volumes are at $2 million from $6 million. Although the fall is as sharp as the rise, Emblem Vaults remain the second greatest NFT project currently.