The demand for NFTs linked to the late Queen Elizabeth II exploded minutes after the official BBC news.
NFTs depicting Queen Elizabeth II
The popular NFT platform OpenSea has registered thousands of new works since the announcement, including original photographs and artwork.
An example is the “RIP Queen Elizabeth” collection launching as many as 579 NFTs in a very few hours, despite the moment though, to date it has a total volume of 0.58 ETH.
Another major project is that of “QueenE DAO,” created to celebrate the longevity of the Queen while she was still alive. From the project’s inception, it was always stated that they would publish one portrait of Elizabeth II per day until her death.
And that is what happened, thus realizing 73 total works.
This is not the first time that there has been such an episode; the creators of NFTs and all the collectors who want to ride the wave of the moment, in order to make a profit, are used to taking advantage of such news that makes the rounds of the world in a short time.
Such as, for example, at the Oscars night when Will Smith slapped Chris Rock, the moment captured on camera immediately became a web meme. Thus creating a phenomenon that gave birth to ‘Will Smith Slap Dao,’ recording sales of $45,000.
Will this be how we remember the highlights of our history in the future? Through collectible NFTs or is it just another way to try to get rich through moments of hype?
The “Queen Elizabeth Inu” token
In addition to NFTs, there is also no shortage of meme tokens created about the beloved Queen Elizabeth II, the most surprising was the token named “Queen Elizabeth Inu” on Pancake Swap recorded 28,500% in a single day.
Numbers that could make all traders and investors go crazy, sadly however, if we analyze the total liquidity of this token we can see that it is $17,000 thus indicating that it is a simple pump & dump of short duration.
A similar situation could be seen with the phenomenon of Squid Game through the token created for a similar purpose.
Naturally, this is not the only meme token created: Queen Elizabeth Inu, Save the Queen, Queen, QueenDoge, London Bridge is Down, are just examples of how an event of this caliber can unleash the market of NFTs and meme tokens.
Definitely a new way for the Web3.0 world to pay tribute to someone’s loss especially when it is a Queen.