On August 7th, 2021, the Lazy Lions NFTs made a roaring launch. NFT collections have grown in popularity, and CryptoPunks was the pioneer of the concept. The collection is offered on OpenSea Marketplace, a decentralized marketplace powered by the Ethereum blockchain. Everyone is abuzz with talk of non-fungible tokens (NFTs), and with reason: the market is exploding. Lazy Lions is another remarkable project. Continue reading to discover everything you need to know about the Lazy Lions NFT Collection.
Getting to Know Lazy Lions NFT
Lazy Lions is a collection of 10,000 unique Lion NFTs that operate on the Ethereum Blockchain. Each Lazy Lion is different and generated programmatically from over 160 possible attributes, including wardrobe, mane, and emotion. The Lazy Lion NFTs are a collection of NFTs that portray a variety of drawn lions with algorithmically created qualities that distinguish each token.
A community formed behind the Lazy Lion NFTs, causing their price floor to rise and the project to gain prominence on social media sites outside the traditional cryptocurrency market. This has resulted in widespread ridicule of the venture on social media, as most people believe the tokens are not worth the excessive amounts asked for them.
From the start, the idea was a success, with 10,000 lions trying to sell out in five hours to between 3,000 and 4,000 customers, generating approximately $1.5 million. As an outcome, by September 16th, 2021, the price ceiling had increased to above $2,000, the highest level between competing companies at the time. The considerably more valuable Lazy Lion NFT was traded for $50,000. On October 11th, 2021, the most valuable Lion was sold for 99 ETH, the equivalent of almost $350,000.
Buying Lazy Lions NFT on OpenSea
Lazy Lions' average price overtime is 0.891 ETH ($3,594), so consider spending close to that to ensure an NFT in the collection:
- To buy your NFT, you must first load cryptocurrency into your wallet. The majority of NFTs on OpenSea are acquired and traded in Ether, the Ethereum blockchain's native coin. Ascertain that you have an adequate amount of ETH in your wallet to cover the cost of the NFT in addition to any other expenses, such as gas. Compare methods of purchasing ETH to reload your wallet if you're running low on funds.
- OpenSea will assist you in locating your NFT. Due to the large number of NFTs posted on OpenSea, consider exploring collections to help pin down your options.
- Transfer ETH to a web3 wallet — MetaMask is a widely used web3 wallet.
- It's simple to order the Lazy Lions NFT from OpenSea. When you're ready to purchase, click the "Buy Now" button next to the NFT in which you chose to engage. OpenSea will display the entire amount, including fees, and you must approve the transaction in your MetaMask wallet after making your purchase.
Claiming Lazy Lion Bungalow
Lazy Lion Bungalow was available for claim by anyone carrying Lazy Lion NFT. It is ready to be claimed at bungalows.lazylionsnft.com/claim.
The Risks Involved in Trading NFTs
Before you purchase your first NFT, please remember that the community sets the price. If there are no purchasers, your NFTs may be unable to be sold at all. Therefore, make prudent investment decisions.