LOS ANGELES , May 13, 2022 / PRNewswire / – In a recently released report, the global web3 / NFT market size is expected to grow from USD 3.0 billion in 2022 to USD 13.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 35.0% from 2022 to 2027. One of the important factors behind the exponential increase in demand for NFTs is that NFTs have extended their horizon from music, videos , and sports to other streams, such as Metaverse and play-to-earn gaming.
The largest factors fueling the web3 and NFT market include the increasing influence of celebrities to fuel the adoption of a web3 mentality and embrace NFTs. There have been many use cases of lucrative opportunities within NFT supply chains for retail, fashion, play-to-earn gaming, and Metaverse real estate. Efforts from industry giants have become increasingly apparent and are providing many more opportunities for independent artists and emerging brands to expand their foothold in a digital landscape.
On April 20th, The Sandbox announced it’s intentions to enter a partnership with My Homies by Cheech and Chong® to usher in a new era for web3 gaming and digital collectibles by hosting a transcendent dreamworld into The Sandbox’s metaverse, enabling fans and holders of My Homies NFTs to co -mingle virtually. Part virtual real estate, part amusement park, The Sandbox fully embraces the idea of the metaverse as a continuous shared digital space where worlds and heroes collide to make magic. Cheech & Chong® join over 200 existing partnerships including Ubisoft, Gucci Vault, Snoop Dogg, Adidas, Deadmau5, The Smurfs, Atari, ZEPETO, and CryptoKitties, all following The Sandbox team’s vision of empowering players to create their own experiences using both new, and well-known characters and worlds.
“Cheech and Chong have always had an appreciation for art, counterculture and the different forms it can be expressed to stir emotions in people,” said Sebastien BorgetCOO and Co-Founder of The Sandbox. “We’ve looking forward to what they will create with and for their community in The Sandbox and what they will introduce to our metaverse.”
Animoca Brands is the parent company for The Sandbox and while a popular platform, they are far from the only opportunities for virtual lands, gaming and other community activities. My Homies and the leadership team are forward thinking and have recently secured land in “The Otherside” which is another metaverse being created by Yuga Labs, Improbable and Animoca Brands; centered around the Bored Ape Yacht Club’s IP. The Otherside will host a large amount of opportunities for the My Homies ecosystem to expand it’s reach into multiple platforms. Additional Metaverse platforms are also being explored such as Spatial.io, Cryptovoxels, Decentraland and more.
My Homies Community Update
Earlier this year in January, My Homies launched it’s first installment to the collectible brand “Homies in Dreamland” which included an NFT collection with Art by Jermaine Rogersproduced by the duo’s IP agents Easy Partners (Cathy Cleghorn and Kimberley Bierley), and web3 production company Atomic Partners (executive producer Joe Bradleyand project manager Jay Grigalunas).
10,420 NFTs were sold to over 5000 holders via the Ethereum block chain. As of 5-12-22 the statistics for the project are:
* 5013 Holders own all of the 10420 NFT units
* 97% Hold Rate – Only 472 of 10,420 units are listed for sale
* 2.4% Listed below original project mint price.
* 5600 Holders own original NFT Art created & delivered to holders for holding the Homies NFTs
Cheech and Chong® and the My Homies project leadership have set an overall mission focusing on Community, Art, Legacy and Mindfulness (CALM), and have succeeded in bringing 30+ guest artists into the project, distributing their NFT artwork to 5,600 unique holders. My Homies implemented a redemption system through their Discord server that allows the budding community and NFT holders to collect daily tickets to claim for real world merchandise which have been collected and celebrated by hundreds of NFT holders. In early March, during an NFT event Los AngelesMy Homies partnered with Superchief Gallery NFT for a special in-real-life event connecting over 1000 attendees with Cheech Marin and Tommy Chong; 30 lucky NFT holders won a chance to have a personal “smoke session” with the guys. My Homies will be hosting another in-real-life event in New York during NFY.NYC in June; the event will be focused on connecting the guest artists with the community of NFT holders.
As new metaverse, gaming and other web3 native opportunities arise, My Homies by Cheech and Chong® will always reward holders of the collectible brand’s NFTs and create experiences that support the mission of growing the community and expanding the legacy.
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SOURCE Easy Partners LLC