Cover Photo: Uninterested Unicorns

It is the first of its kind in Singapore to sell out more than 307 Ethereum worth of NFTs in less than 10 minutes from the launch of its public sale

A new generative Non-Fungible Token (NFT) avatar project, Uninterested Unicorns, started by Singapore-based startup Nex10 Labs set a new record in September 2021 where they sold more than US$1 million worth of NFTs—or approximately 307 Ethereum—in less than 10 minutes. It also saw a trading volume of more than 1,000 ETH in its first week.

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Founded by Terence Ting of the Southeast Asian-based Esports organisation Team Flash and NFT media platform for Asian collectors The Asian Mint, his startup Nex10 Labs seeks to create a generational NFT that celebrates and enables artists and their work.

The Uninterested Unicorns—or also known as U_U—co-founding team also includes Singaporeans Ryan Teo and Lim Keng Hin, the lead artist and blockchain developer of the project respectively.

With U_U, the brand aims to showcase talents from Asia, and build a global intellectual property and a new shared economy with their community through Decentralized Finance and NFTs. 

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On the success of the launch last month, founder Terence Ting said, “After closely observing and investing in the NFT space in 2021, it is a privilege to have launched our own NFT project and brand this year in Uninterested Unicorns. We believe in the future of Web 3.0 and a fully decentralised internet economy, where NFTs will be key to this movement. Digital collectibles and metaverse is the future, and combined with video gaming will create a new entertainment experience to be shared with the world.” 

The startup company was a timely response to a renewed interest in NFTs as its daily sales hit an all-time high in August this year.

NFTs enables holders of art and collectibles to authenticate and track ownership digitally and its potential to revolutionise the global collectibles space has allowed it garner widespread endorsement not just from blockchain enthusiasts, but also mainstream heavy weights such as golfer Tiger Woods and NFL star Tom Brady.

In fact, Time also just launched their very own NFT community initiative, TimePieces to celebrate more than 4,500 original NFTs from over 40 artists across the globe.

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With a team of NFT enthusiasts and experts from brands like Ubisoft, DAO ventures, Riot Games, Nex10 Labs built the project in just 3 months to sell out 6,900 U_U NFTs. After the sale, the collection traded for more than 1,000 Ethereums in its opening week, indicating a strong and healthy secondary market with more than 35 per cent unique holders across a global community. 

Buoyed by the success of this launch, Nex10 Labs will debut their very own cryptocurrency in October 2021—$UCD, which will be linked to the expanding U_U NFT collection. The team is also currently looking to raise its first investment round before the end of 2021, and is planning for the pre-production of the Uninterested Unicorns game, which will integrate the expanding U_U NFT metaverse collection. 

Beyond the success of U_U, Nex10 Labs has also partnered with top Asia-based Esports teams EVOS Esports and Bren Esports to introduce the Esports and gaming community to the NFT space, launching Asia’s first NFT Metaverse party with DJ Jade Rasif earlier in September. 

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