Imagine one of the most famous and arguably the most controversial art forgers in the world releasing an NFT collection. There would likely be guaranteed hype potential. This is exactly what happened with Beltracchi’s NFTs. But do they really offer NFT fans a chance or are there better alternatives? In the following article, we will take a look at Beltracchi’s NFTs and also present an alternative that we believe has more potential in the NFT market.
Controversial artist and forger: who is Wolfgang Beltracchi?
Wolfgang Beltracchi is a German painter who went down in history as an art forger. Because in 2011, Beltracchi was sentenced to a long prison term for commercial fraud. After all, Beltracchi allegedly made a fraudulent profit of around 50 million euros. But now he is free again. Beltracchi no longer forges images, but creates works of art with his own writing. But physical art is not the only one written by Wolfgang Beltracchi. In the meantime, what is probably the most controversial artist in the world has also released his own NFTs.
NFT Beltracchi: here is The Greats collection
Wolfgang Beltracchi’s first NFT collection is “The Greats”. A total of 4608 NFT Beltracchi belong to The Greats collection. The digital images are based on the work ‘Salvator Mundi’, which was sold by Christie’s in 2017 for approximately US$450 million – an art market record. Beltracchi has now made thousands of different versions of the work, using different artistic styles. While many NFTs are computer-generated and automated, Beltracchi’s NFTs are different. He worked on Beltracchi’s NFTs for a total of six months.
Mundi #284 listed for 25 ETH is the most expensive mundi in opensea 💰 pic.twitter.com/gGLyx8nTRE
— The Greats by Wolfgang Beltracchi (@TheGreatsArt) April 3, 2022
This is how Beltracchi’s NFTs grow
There are now around 2,600 Beltracchi NFTs at OpenSea, owned by over 350 people. The floor price is 0.14 Ether. A total volume of around 125 ethers has been implemented at OpenSea so far. The value of Beltracchi’s NFTs has already adjusted to lower demand. While these initially traded at three ETH, today the value is several times lower. Most recently, Beltracchi NFTs were sold between 0.10 and 0.25 ETH – amounts converted in the mid-three-digit range.
These are the opportunities of Beltracchi’s NFTs
Nonetheless, Beltracchi’s NFTs have a fundamental chance of getting some new hype. Wolfgang Beltracchi is well known. The controversy does not harm Beltracchi’s NFTs. After all, any attention to NFTs is good attention. Nevertheless, there are always new NFT projects that become the focus. About six months after the minting, the value of NFT Beltracchi is significantly lower. You need real drivers here to start a new rally.
Is this NFT collection with 6000% potential the best choice?
There is no doubt that Wolfgang Beltracchi’s NFT collection offers opportunities. Beltracchi’s NFTs could explode. You can be sure of attention. However, there are also significant risks. For one, the use case is manageable. On the other hand, many are those who are still reluctant to trust a rather shady artist. In an NFT market consolidation, which will inevitably happen sooner or later, these NFTs could lose their value significantly. NFT collections that offer a real use case are therefore very promising.
Lucky Block NFTs could have a price potential of over 6000%. These act as lifetime tickets for the NFT lottery and therefore fulfill exactly this use case. If you look at Lucky Block Coin’s brilliant price rally after PancakeSwap listed, you might find over 6000% upside potential. After all, comparable hype seems possible with a strictly limited NFT collection.
Three reasons why Lucky Block NFTs are better than Beltracchi NFTs in the long run
But why should you prefer Lucky Block NFTs to Beltracchi NFTs. There are three reasons here:
1. Actual use case with a 1 in 10,000 chance of winning
Lucky Block NFTs represent a lifetime ticket to the NFT lottery, which is expected to run at around 2% transaction fees in the future. Every day, NFT holders have a 1 in 10,000 chance of winning.
2. Competent team and transparent appearance
Wolfgang Beltracchi has spent years in prison for his criminal activities and is an extremely controversial artist. The team behind Lucky Block convinces with its competence and transparency on social networks. This creates confidence among Lucky Block fans in the future of the project.
3. Gambling Market Growth and Potential for Disruption
The game’s targeted growth market is exciting. Because more and more people decide to play online. Digitization has progressed successfully in recent years. Disruption by a crypto lottery is the next logical step. Along with transparency and authenticity, blockchain technology offers significant benefits that are especially important in the trust-sensitive gaming market.
After studying law and management, I decided to work as a freelancer. For many years, when writing texts, I focused on the topics of investment, capital markets and business. In my private life, not a day goes by without the stock market, stocks and the like.
Every transaction is risky. No guarantee of winning. Any content on our website is for informational purposes only and does not constitute a recommendation to buy or sell. This applies to assets as well as products, services and other investments. Opinions expressed on this site do not constitute investment advice and independent financial advice should be sought where possible.