How much OG earned from NFT
Author: Hawk Live LLC
Last updated:
NFTs have recently been gaining more and more popularity among both companies and ordinary people. Despite the criticism of NFT and cryptocurrency, here and there mutually beneficial cooperation is announced and ambitious plans are made.
Dota 2 is no exception. And despite Valve's negative attitude towards this, teams don't give up on future ideas. In the past year, several organizations announced partnerships with crypto exchanges and even released NFT collections. But only one organization was able to really succeed in this direction.
OG and Nifty
The esports organization OG has fully appreciated the full promise of the synergy between NFT and esports.
In January 2021, they announced partnership with Nifty Gateway. And soon a collection of virtual rings dedicated to the team's victory at The International 2018 was released on the platform.
OG CEO, JMR Luna, commented on this collaboration:
In OG we always look for different ways to innovate and to provide value to our fans. We created Crypto Fan Tokens with Socios, Crypto technology with DMScript and now we wanted to explore the Crypto Art world.
And of course, we wanted to be able to share the TI win with all our fans, by creating incredible photorealistic Championship rings so all the fans can be part of our incredible victory.
Representative of Nifty:
Our OG Nifties have been created by the super talented 3D artist Filip Hoodas.
The digital artworks he produces are immensely impressive on their own, but paired with OG’s brand, this is truly a project for the ages. Filip was incredibly excited to work with us and so were we – his authenticity, success, and passion matches what we have built in the esports world
At the start of sales, only a few hundred sets were available at a price of $199, from which rings of various rarities, colors and animations fell at random. All packs were sold out in a few hours.
Later, in March of that year, OG, in collaboration with artist Josh Pierce, released a series of artwork. The sale was carried out on the basis of an auction.
For example, a single copy of a picture of a river from Dota 2 was sold for $6,550.
The rest of the works, which were a limited edition of animated images with soundtrack and static art, were also sold at auction. The minimum bid was $1,500.
Another hype and success, but OG was not going to stop there.
OG and Binance
In June, the organization announced a partnership with another platform - Binance NFT. For OG, this was another step forward, and for Binance, it was an excellent start in the NFT market.
Kevin Avegard, OG Esports Head of Brand:
Having such a reputable brand as Binance on our side in our NFT adventure feels incredible. As we move forward in our creative initiatives we will keep working hard and connect with talented artists to tell the story of the OG brand. Art fills different roles for many of us, be it creators or beholders, and with the support from Binance and its platform we feel like it will bring us to another level. This allows OG and creatives to share an artistic showroom that is ready to be shared with the world
Helen Hai, Head of Binance NFT:
The gaming market has a lot of potential and the blockchain gaming industry has grown alongside the NFT industry. Now gamers can use native currencies within games to generate and collect NFTs that can be re-used or sold later. We believe that OG can play a significant role in making disruptive innovations with the gaming and NFT industries.
In collaboration with two artists, Jonathan Plesel and Thibault Zeller, OG has released a new collection of virtual items on the Binance NFT platform.
Animated drawings, like last time, were sold at auction. Bets on them started at $1,500.
In addition, loot boxes containing static images were on sale. Each picture was released in a limited edition, has its own rarity and dropped out of the loot box at random.
Like all previous events, absolutely all NFT items were sold out in no time. Many wanted to snatch a piece of OG for themselves, which was what the representatives of the organization said.
OG success
Dexerto calculated the exact amount that OG earned for the release of three NFT sets in 2021.
The first release took place on January 23, 2021, when OG held an auction and sold 1,099 boxes and 79 versions of artwork created by artist Filip Hoodas. In total, this brought in $272,089.88.
$203,624.33 was raised during the second sale, which began on March 28 and consisted of more auctions, as well as “open” and “closed” editions of custom-made art.
OG's third NFT release ended on July 6 when they sold 10 artworks with 3,336 tokens and also held three private auctions. Everything was sold for a total of $ 510,995.15.
With three NFT collectible drops, esports organization OG has earned roughly $1 million. More specifically, $986,709.36. For comparison, the OG Dota 2 roster earned a total of $1,089,100 in prize money over the past 2021, of which they received $1,000,500 for the 7th-8th place at The International 2021.
While this was definitely a big step forward for esports in the cryptocurrency space, many people were skeptical about such collaboration. Twitter and Reddit users commented that paying $ 150 for digital art when you can just take a screenshot and save it to your computer for free is foolish.
For some reason, no one wants to pay attention to the fact that in the real world there are prints of famous paintings by artists and other works of art, released in a limited edition and having their own uniqueness. The price depends on the author, the work itself, the material, the production method and even the serial number. Such copies have their own documents of authenticity and have value only if they are available.
NFT is something new, around which there are many questions, concerns and curiosity. Many are confused and unclear where this will go in the long run. However, the hype and instant sellout of OG's digital art shows that there is interest in this type of unique esports memorabilia, which means other esports companies and organizations may consider similar collaborations in the near future.
