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

The NFT collection appears to be an ironic reflection of the tulip mania-similar condition 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 past a digital creative person going by the Twitter handle @jtbxl who has a number of pieces for auction on the Rarible platform.

'Tulip mania' refers to a catamenia during the Dutch Gilded Age when prices for some bulbs of the recently introduced and fashionable tulips reached extraordinarily loftier levels, so dramatically collapsed in February 1637.

Affections investor Brad Mills fabricated the comparison to his 26,000 followers on Twitter on March xi.

"In 5 years, people volition 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 abet Ryan Sean Adams commented on how frothy the electric current NFT frenzy is by observing the fully diluted market capitalization of Dapper Labs' token Menstruum has grown to an boggling valuation.

The maximum supply of one.34 billion tokens at a current marketplace price of $31 would requite 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 one thousand thousand based on a circulation of 31.5 million tokens co-ordinate to Coingecko.

Dapper Labs is the business firm behind the wildly pop CryptoKitties and the tape breaking NBA Top Shots NFT collections.

Its Period blockchain was unveiled in September 2019 post-obit venture capital letter investment from Andreessen Horowitz, Warner Music Group, Marriage 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 at present occurring with crypto art and Period is reaping the benefits. Over the by thirty days, the price of its Period token has increased 63%, hitting an all-time high on March four of a fiddling over $40 according to Coingecko.