The Royal Goats Club NFT has officially sold out of its first 1000 NFTs. Following the successful first batch of mint and a succession of secondary sales, the floor price is rising, currently increasing by over 450%. The Royal Goats Club NFTs have seen sales ranging from .5 ETH up to 10 ETH and recently even a sale for 30 ETH. While the initial mint price was only .10 ETH, collectors and holders quickly minted their Royal Goats and are listing (and selling) them for Royal prices. One of the main reasons why NFTs are so popular is because they provide a way for people to own digital assets.
While it may be true that NFTs are like investing in a start-up company (because there is always a risk that a company will not be successful, and you could lose your investment), there are usually indicators that may help determine which projects have potential and which one’s don’t. One similarity between Royal Goats Club and Bored Ape Yacht Club is that both have focused on their community and built a strong culture about fellow holders being treated like family. There are a few key things to remember when it comes to community. First and foremost, a community is all about coming together for a common goal or purpose. Whether that’s working towards a shared vision, supporting one another, or simply being there for one another, the community is built on relationships. And while the community can sometimes be considered a physical space like a neighborhood or town, it can also be something much more abstract, like a group of people with similar interests or values. No matter what form it takes, a community is an integral part of our lives. It’s where we find belonging and connection and helps us feel supported during difficult times. This is a factor that both Royal Goats Club and BAYC have focused on heavily.; ”The truth is, our community is what drives us, new members and old alike. We are all in this together!” Devan Leos, a team member for Royal Goats Club, said that when asked about the importance of community.
Another thing that stuns people is that BAYC originally minted for .08 ETH (which at the time of writing this = $146); however, the current floor price today is $141,753.68, and individual BAYC NFTs have sold for millions. With the Royal Goats Club floor price rising (currently sitting at .44ETH), the RGC holders are also rejoicing as Royal Goats Club NFTs are being listed and sold for 5 to 20 ETH ($20,000-40,000 USD). So long as Royal Goats Club holders continue to hold and list for high prices, the potential profits and value each RGC holder gets may be exponential. Unfortunately, unlike BAYC, the RGC NFT launch happened following a recent bear market, one of the most challenging markets to deal with in the NFT Space. In investing, a bear market is one where there are very few buyers and sellers. This can lead to broad price swings and make it difficult to find a buyer or seller when needed. Bear markets can be caused by low liquidity, high volatility, or both. However, despite the odds against the goats, the gilded-goat future looks brighter.
Keep an eye on Royal Goats Club! Despite an initial bare market launch, the NFT and collective have picked up much steam and are getting much attention! Following the final mints, Royal Goats Club says it will officially focus all of its resources on the current marketplace they are developing.
While there is still much speculation about the future of NFTs, it's clear that they are already changing how we interact with digital content. The bottom line is that NFTs are in the early stages of development and mass adoption has yet to occur. Despite this, NFTs are already having a significant impact on the gaming, sports, and entertainment industries, and collectors and investors alike are enjoying the ability to have proof of ownership with their digital assets. For example, the NBA Top Shot collectibles are one of the hottest trends in basketball. NFTs have even been used to create virtual real estate, with some people spending thousands of dollars on digital land.
