Flow’s fully diluted market cap tops $40B as non-fungible tulips go on sale

The NFT craze is showing no signs of slowing down with a newly launched NFT tulip collection epitomizing how some view the current state of the crypto art ecosystem.

The NFT collection appears to be an ironic reflection of the tulip mania-like status of the current NFT scene.

The collection is on sale on the OpenSea NFT market place as “113 unique algorithmically generated collectible Tulips.”  The NFTs were created by a digital artist going by the Twitter handle @jtbxl who has a number of pieces for auction on the Rarible platform.

‘Tulip mania’ refers to a period during the Dutch Golden Age when prices for some bulbs of the recently introduced and fashionable tulips reached extraordinarily high levels, and then dramatically collapsed in February 1637.

Angel investor Brad Mills made the comparison to his 26,000 followers on Twitter on March 11.

“In 5 years, people will look at the 2021 NFT craze as the Digital Tulip Bubble. Buying NFTs from celebrities, sports starts & social media influencers for tens of thousands of $ is like buying their hats & shirts for thousands of dollars.”

Investor and Ethereum advocate Ryan Sean Adams commented on how frothy the current NFT frenzy is by observing the fully diluted market capitalization of Dapper Labs’ token FLOW has grown to an extraordinary valuation.

The maximum supply of 1.34 billion tokens at a current market price of $31 would give FLOW it a fully diluted market cap of approximately $41.5 billion, placing it athird in the market cap charts, just above Binance Coin.

However, its actual market cap for circulating tokens is currently $988 million based on a circulation of 31.5 million tokens according to Coingecko.

Dapper Labs is the firm behind the wildly popular CryptoKitties and the record breaking NBA Top Shots NFT collections.

Its Flow blockchain was unveiled in September 2019 following venture capital investment from Andreessen Horowitz, Warner Music Group, Union Square Ventures, and a number of others.

The concept for a new blockchain targeting games, social networks, and NFTs arose after Ethereum faced large scalability issues in 2017 with the high transaction fees during the CryptoKitties hype.

The same hype is now occurring with crypto art and Flow is reaping the benefits. Over the past thirty days, the price of its FLOW token has increased 63%, hitting an all-time high on March 4 of a little over $40 according to Coingecko.

Leave a Reply

Your email address will not be published. Required fields are marked *

bitcoin
Bitcoin (BTC) $ 36,132.00 3.48%
ethereum
Ethereum (ETH) $ 2,428.66 0.83%
tether
Tether (USDT) $ 1.00 0.28%
polkadot
Polkadot (DOT) $ 21.13 0.85%
cardano
Cardano (ADA) $ 1.50 2.19%
binance-coin
Binance Coin (BNB) $ 349.13 1.93%
xrp
XRP (XRP) $ 0.843696 1.64%
litecoin
Litecoin (LTC) $ 163.75 1.01%
chainlink
Chainlink (LINK) $ 22.23 0.92%
bitcoin-cash
Bitcoin Cash (BCH) $ 587.45 0.18%
stellar
Stellar (XLM) $ 0.338779 4.37%
usd-coin
USD Coin (USDC) $ 1.01 0.50%
dogecoin
Dogecoin (DOGE) $ 0.318041 2.58%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 36,180.00 3.12%
uniswap
Uniswap (UNI) $ 21.81 2.21%
aave
Aave (AAVE) $ 288.02 1.16%
cosmos
Cosmos (ATOM) $ 12.10 0.18%
monero
Monero (XMR) $ 249.88 0.85%
eos
EOS (EOS) $ 4.89 3.53%
bitcoin-sv
Bitcoin SV (BSV) $ 162.74 1.67%
tron
TRON (TRX) $ 0.069101 2.14%
nem
NEM (XEM) $ 0.161332 5.36%
iota
IOTA (MIOTA) $ 1.03 2.55%
vechain
VeChain (VET) $ 0.107813 0.44%
tezos
Tezos (XTZ) $ 3.21 0.48%
theta-token
Theta Network (THETA) $ 7.77 4.68%
havven
Synthetix Network Token (SNX) $ 8.59 4.25%
avalanche-2
Avalanche (AVAX) $ 13.69 1.70%
neo
NEO (NEO) $ 47.00 3.78%
terra-luna
Terra (LUNA) $ 5.78 0.98%
dash
Dash (DASH) $ 164.19 3.77%
huobi-token
Huobi Token (HT) $ 13.30 3.20%
okb
OKB (OKB) $ 13.29 4.45%
elrond-erd-2
Elrond (EGLD) $ 80.20 4.15%
crypto-com-chain
Crypto.com Coin (CRO) $ 0.114399 4.18%
the-graph
The Graph (GRT) $ 0.620097 1.95%
compound-ether
cETH (CETH) $ 48.54 1.21%
solana
Solana (SOL) $ 37.04 0.78%
maker
Maker (MKR) $ 3,007.62 0.35%
filecoin
Filecoin (FIL) $ 70.72 2.32%
cdai
cDAI (CDAI) $ 0.021669 0.84%
dai
Dai (DAI) $ 1.00 0.30%
ftx-token
FTX Token (FTT) $ 31.28 2.24%
celsius-degree-token
Celsius Network (CEL) $ 7.01 0.16%
sushi
Sushi (SUSHI) $ 8.36 3.98%
kusama
Kusama (KSM) $ 411.21 3.96%
compound-governance-token
Compound (COMP) $ 306.06 2.22%
zcash
Zcash (ZEC) $ 128.84 0.28%
ethereum-classic
Ethereum Classic (ETC) $ 56.33 2.56%
decred
Decred (DCR) $ 132.65 5.48%
binance-usd
Binance USD (BUSD) $ 1.01 0.40%
compound-usd-coin
cUSDC (CUSDC) $ 0.022237 0.93%
zilliqa
Zilliqa (ZIL) $ 0.102755 2.88%
uma
UMA (UMA) $ 11.60 0.29%
yearn-finance
yearn.finance (YFI) $ 37,227.00 0.84%
leo-token
LEO Token (LEO) $ 2.43 1.10%
pancakeswap-token
PancakeSwap (CAKE) $ 15.98 4.14%
waves
Waves (WAVES) $ 14.85 1.39%
near
Near (NEAR) $ 3.01 3.64%
amp-token
Amp (AMP) $ 0.059720 7.85%
0x
0x (ZRX) $ 0.874315 1.64%
huobi-btc
Huobi BTC (HBTC) $ 35,992.00 3.82%
algorand
Algorand (ALGO) $ 0.987900 3.03%
digibyte
DigiByte (DGB) $ 0.054031 7.89%
icon
ICON (ICX) $ 0.913795 0.07%
hedera-hashgraph
Hedera Hashgraph (HBAR) $ 0.193407 4.32%
nexo
NEXO (NEXO) $ 1.90 6.23%
xsushi
xSUSHI (XSUSHI) $ 9.63 4.21%
ethos
Voyager Token (VGX) $ 2.26 3.55%
loopring
Loopring (LRC) $ 0.297980 1.46%
thorchain
THORChain (RUNE) $ 7.25 2.79%
ontology
Ontology (ONT) $ 0.910085 5.19%
renbtc
renBTC (RENBTC) $ 35,960.00 3.76%
nano
Nano (NANO) $ 6.26 3.01%
basic-attention-token
Basic Attention Token (BAT) $ 0.635923 4.96%
omisego
OMG Network (OMG) $ 4.76 3.05%
republic-protocol
REN (REN) $ 0.414545 4.92%
zencash
Horizen (ZEN) $ 82.07 1.28%
bittorrent-2
BitTorrent (BTT) $ 0.003452 2.96%
swissborg
SwissBorg (CHSB) $ 0.657262 4.95%
ravencoin
Ravencoin (RVN) $ 0.072602 4.34%
iostoken
IOST (IOST) $ 0.027097 5.86%
qtum
Qtum (QTUM) $ 8.72 5.66%
paxos-standard
Paxos Standard (PAX) $ 1.00 0.40%
venus
Venus (XVS) $ 22.97 3.27%
blockstack
Stacks (STX) $ 0.853561 5.87%
matic-network
Polygon (MATIC) $ 1.39 6.08%
curve-dao-token
Curve DAO Token (CRV) $ 2.14 2.75%
siacoin
Siacoin (SC) $ 0.015296 2.93%
quant-network
Quant (QNT) $ 52.90 3.64%
bancor
Bancor Network Token (BNT) $ 3.83 1.14%
reserve-rights-token
Reserve Rights Token (RSR) $ 0.028075 6.29%
fantom
Fantom (FTM) $ 0.245184 7.46%
mdex
Mdex (MDX) $ 1.97 2.97%
enjincoin
Enjin Coin (ENJ) $ 1.25 7.03%
energy-web-token
Energy Web Token (EWT) $ 7.65 2.28%
lisk
Lisk (LSK) $ 2.80 5.86%
ampleforth
Ampleforth (AMPL) $ 0.842535 1.98%
balancer
Balancer (BAL) $ 23.09 1.74%
terrausd
TerraUSD (UST) $ 1.00 0.38%
ocean-protocol
Ocean Protocol (OCEAN) $ 0.491900 5.93%
husd
HUSD (HUSD) $ 1.00 0.20%
nxm
Nexus Mutual (NXM) $ 92.94 0.97%
1inch
1inch (1INCH) $ 2.75 2.77%
bitcoin-gold
Bitcoin Gold (BTG) $ 56.68 3.46%
kyber-network
Kyber Network Crystal Legacy (KNCL) $ 1.71 3.17%
verge
Verge (XVG) $ 0.026780 3.33%
decentraland
Decentraland (MANA) $ 0.676690 5.01%
alpha-finance
Alpha Finance (ALPHA) $ 0.594052 2.77%
flow
Flow (FLOW) $ 11.96 7.48%
band-protocol
Band Protocol (BAND) $ 6.69 0.86%
status
Status (SNT) $ 0.070708 10.84%
dodo
DODO (DODO) $ 1.28 2.79%
bitcoin-cash-abc-2
Bitcoin Cash ABC (BCHA) $ 20.16 2.74%
compound-usdt
cUSDT (CUSDT) $ 0.021277 0.15%
xdce-crowd-sale
XDC Network (XDC) $ 0.050612 4.78%
staked-ether
Lido Staked Ether (STETH) $ 2,423.86 0.67%
arweave
Arweave (AR) $ 14.89 6.67%
polymath-network
Polymath Network (POLY) $ 0.202641 7.72%
safepal
SafePal (SFP) $ 0.961499 5.70%
true-usd
TrueUSD (TUSD) $ 1.00 0.35%
zkswap
ZKSwap (ZKS) $ 0.661795 3.43%
polkastarter
Polkastarter (POLS) $ 1.32 6.67%
ethlend
Aave [OLD] (LEND) $ 2.86 2.14%
helium
Helium (HNT) $ 12.73 3.89%
civic
Civic (CVC) $ 0.259642 4.21%
pundi-x
Pundi X [OLD] (NPXS) $ 0.001297 11.30%
kava
Kava.io (KAVA) $ 3.68 1.40%
golem
Golem (GLM) $ 0.262882 7.58%
harmony
Harmony (ONE) $ 0.078103 3.43%
nucypher
NuCypher (NU) $ 0.306214 7.86%
holotoken
Holo (HOT) $ 0.007499 2.60%
nusd
sUSD (SUSD) $ 1.01 0.55%
electroneum
Electroneum (ETN) $ 0.007548 14.91%
nervos-network
Nervos Network (CKB) $ 0.018729 4.47%
derivadao
DerivaDAO (DDX) $ 2.41 6.58%
district0x
district0x (DNT) $ 0.144557 5.49%
bitcoin-diamond
Bitcoin Diamond (BCD) $ 3.03 11.98%
trust-wallet-token
Trust Wallet Token (TWT) $ 0.358457 0.79%
rif-token
RSK Infrastructure Framework (RIF) $ 0.179924 2.43%
swipe
Swipe (SXP) $ 1.73 3.84%
gnosis
Gnosis (GNO) $ 171.93 0.52%
numeraire
Numeraire (NMR) $ 39.36 2.89%
rook
KeeperDAO (ROOK) $ 148.69 1.98%
kucoin-shares
KuCoin Token (KCS) $ 8.09 0.23%
btc-standard-hashrate-token
BTC Standard Hashrate Token (BTCST) $ 27.49 2.99%
aragon
Aragon (ANT) $ 4.47 1.40%
fetch-ai
Fetch.ai (FET) $ 0.262906 5.33%
litentry
Litentry (LIT) $ 3.19 5.69%
funfair
FUNToken (FUN) $ 0.020352 5.48%
chiliz
Chiliz (CHZ) $ 0.284928 8.61%
seth
sETH (SETH) $ 2,430.53 0.61%
oasis-network
Oasis Network (ROSE) $ 0.067548 6.39%
injective-protocol
Injective Protocol (INJ) $ 7.84 3.38%
vethor-token
VeThor Token (VTHO) $ 0.007756 2.74%
saffron-finance
saffron.finance (SFI) $ 415.00 0.55%
augur
Augur (REP) $ 18.91 6.32%
the-sandbox
The Sandbox (SAND) $ 0.272118 13.29%
singularitynet
SingularityNET (AGIX) $ 0.193206 0.75%
secret
Secret (SCRT) $ 1.34 2.73%
telcoin
Telcoin (TEL) $ 0.029499 3.21%
serum
Serum (SRM) $ 3.78 4.64%
gatechain-token
GateToken (GT) $ 3.89 3.87%
mainframe
Hifi Finance (MFT) $ 0.008880 5.64%
sbtc
sBTC (SBTC) $ 36,155.00 3.66%
compound-uniswap
cUNI (CUNI) $ 0.435885 3.47%
ardor
Ardor (ARDR) $ 0.169609 9.63%
vai
Vai (VAI) $ 0.897053 0.15%
utrust
UTRUST (UTK) $ 0.313185 4.58%
prometeus
Prometeus (PROM) $ 14.37 19.53%
reddcoin
Reddcoin (RDD) $ 0.002896 13.87%
monacoin
MonaCoin (MONA) $ 1.83 2.54%
noia-network
Syntropy (NOIA) $ 0.199390 3.36%
compound-0x
c0x (CZRX) $ 0.017854 2.52%
wink
WINkLink (WIN) $ 0.000433 4.21%
ankr
Ankr (ANKR) $ 0.085911 0.96%
bytom
Bytom (BTM) $ 0.075504 0.60%
rocket-pool
Rocket Pool (RPL) $ 11.75 1.70%
origintrail
OriginTrail (TRAC) $ 0.316106 1.64%
steem
Steem (STEEM) $ 0.408085 13.99%
maidsafecoin
MaidSafeCoin (MAID) $ 0.690562 3.16%
tomochain
TomoChain (TOMO) $ 1.49 0.31%
edgeware
Edgeware (EDG) $ 0.009485 0.16%
skale
SKALE (SKL) $ 0.286542 4.85%
stratis
Stratis (STRAX) $ 1.25 7.65%
hegic
Hegic (HEGIC) $ 0.105610 2.72%
komodo
Komodo (KMD) $ 1.08 13.11%
bitshares
BitShares (BTS) $ 0.048229 1.34%
unibright
Unibright (UBT) $ 1.01 2.82%
coinmetro
CoinMetro (XCM) $ 0.354806 9.99%
ark
Ark (ARK) $ 1.03 6.90%
mirror-protocol
Mirror Protocol (MIR) $ 3.75 3.68%
keep-network
Keep Network (KEEP) $ 0.414084 4.90%
neutrino
Neutrino USD (USDN) $ 1.01 0.48%
iexec-rlc
iExec RLC (RLC) $ 3.28 4.95%
harvest-finance
Harvest Finance (FARM) $ 55.85 0.13%
iotex
IoTeX (IOTX) $ 0.022732 1.63%
badger-dao
Badger DAO (BADGER) $ 12.40 6.98%
redfox-labs-2
RedFOX Labs (RFOX) $ 0.071259 4.94%
empty-set-dollar
Empty Set Dollar (ESD) $ 0.055240 1.34%
ultra
Ultra (UOS) $ 0.375900 0.45%
wanchain
Wanchain (WAN) $ 0.714957 3.55%
iris-network
IRISnet (IRIS) $ 0.077223 6.83%
perpetual-protocol
Perpetual Protocol (PERP) $ 7.77 0.07%
trustswap
Trustswap (SWAP) $ 0.979155 3.37%
tokenlon
Tokenlon (LON) $ 3.55 4.03%
orion-protocol
Orion Protocol (ORN) $ 6.95 1.62%
titanswap
TitanSwap (TITAN) $ 4.32 10.15%
tether-gold
Tether Gold (XAUT) $ 1,876.85 0.07%
wax
WAX (WAXP) $ 0.136860 3.82%
yfii-finance
DFI.money (YFII) $ 1,681.80 1.59%
aelf
aelf (ELF) $ 0.213286 6.83%
haven
Haven (XHV) $ 9.85 5.73%
pax-gold
PAX Gold (PAXG) $ 1,897.22 0.39%
defipulse-index
DeFiPulse Index (DPI) $ 303.63 0.89%
math
MATH (MATH) $ 1.41 1.12%
api3
API3 (API3) $ 2.71 7.78%
sora
Sora (XOR) $ 244.14 11.52%
dent
Dent (DENT) $ 0.003178 2.96%
loom-network
Loom Network (OLD) (LOOMOLD) $ 0.071302 7.11%
nftx
NFTX (NFTX) $ 54.14 0.44%
gala
Gala (GALA) $ 0.009608 4.55%
axie-infinity
Axie Infinity (AXS) $ 3.90 14.34%
beefy-finance
Beefy.Finance (BIFI) $ 1,131.89 4.39%
swingby
Swingby (SWINGBY) $ 0.105346 8.25%
parsiq
PARSIQ (PRQ) $ 0.646537 5.21%
akropolis
Akropolis (AKRO) $ 0.020224 4.62%
nest
Nest Protocol (NEST) $ 0.011636 11.40%
stakehound-staked-ether
StakeHound Staked Ether (STETH) $ 3,719.75 0.00%
akash-network
Akash Network (AKT) $ 2.99 6.45%
cream-2
Cream (CREAM) $ 142.20 6.71%
auto
Auto (AUTO) $ 1,064.37 2.74%
storj
Storj (STORJ) $ 0.931877 3.08%
e-radix
e-Radix (EXRD) $ 0.145059 17.69%
hive
Hive (HIVE) $ 0.341428 5.11%
chainx
ChainX (PCX) $ 5.98 17.42%
wrapped-nxm
Wrapped NXM (WNXM) $ 61.20 2.14%
hathor
Hathor (HTR) $ 0.418509 1.94%
gemini-dollar
Gemini Dollar (GUSD) $ 1.01 0.01%
frontier-token
Frontier (FRONT) $ 0.774688 7.35%
everid
Everest (ID) $ 0.367006 11.49%
lto-network
LTO Network (LTO) $ 0.225244 6.93%
power-ledger
Power Ledger (POWR) $ 0.204202 6.23%
livepeer
Livepeer (LPT) $ 25.90 0.03%
xdai-stake
xDAI Stake (STAKE) $ 7.55 0.89%
rari-governance-token
Rari Governance Token (RGT) $ 5.63 12.99%
cashaa
Cashaa (CAS) $ 0.030144 4.47%
energi
Energi (NRG) $ 1.96 4.39%
bytecoin
Bytecoin (BCN) $ 0.000451 2.14%
duckdaodime
DuckDaoDime (DDIM) $ 11.86 2.06%