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Read This! Bonsai bonanza as Zenft studio sells out $2 million NFT drop in one hour (cointelegraph.com)
While the short-term market outlook for many NFT projects look uncertain, and multiple new releases struggle to gain traction, one gardening-themed drop may have set some records by selling 8,888 nonfungible tokens (NFTs) in just under an hour.

Nonfungible token studio Zenft released a line of 8,888 unique bonzai NFT plants that quickly sold out on Tuesday, with the studio selling each digital tree for 0.08 Ether (ETH), or roughly $220 at the time of publication.

The bonsais have augmented reality/virtual reality functionality, and their 3D design is a step up from previous pixelated, 2D projects. The studio celebrated the nearly $2,000,000 sale with a tweet:

The success is somewhat of a surprise, given that NFTsĀ remain mired in a slump following explosive growthĀ earlier this year. New drops like Crypteriors struggle to sell out completely, making the one-hour mark a particular feat.However, some collectors suspect that the success may be due in part to clever marketing.

ā€œI like the way they look but it feels like people are trying to recreate what happened with the Bored Apes money printing machine,ā€ said one prominent collector who spoke to Cointelegraph on the condition of anonymity. ā€œBeen feeling a little exhausted seeing the space devolve into celeb pump and dump.

ā€Bored Ape Yacht Club, another recent success amid the market dip, managed to attract a fervent community in part on the back of outreach to prominent investors and collectors in the NFT space ā€” and as one collector put it, where whales go, smaller collectors, or ā€œplankton,ā€ follow (sometimes to their detriment).

In an interview with Cointelegraph, ā€œ8ncient Gardener,ā€ one of the three Zenft ā€œgardenersā€ (or developers), said that marketing played a role ā€” 8ncient ā€œtook painstaking care around crafting our giveaways,ā€ in particular ā€” but ultimately, the quality of the art is what made the bonsais such a hit.Ā ā€œI think our art speaks for itself quite honestly.

And everyone can unify around a bonsai. We had Apes, Punks, Voxo, Sandbox, Camels ā€” all these NFT factions all rallying around bonsai,ā€ he said. ā€œIn a world of pixel art we made gorgeous 3D bonsai.ā€

The on-chainĀ evidenceĀ is somewhat mixed. There are currently 1,736 different holders of the nearly 9,000 bonsais, with over 22% of the supply concentrated in two NFT whale addresses.

From there, thereā€™s a steep drop-off, however, with a broad range of addresses holding smaller quantities of the bonsais.
While itā€™s impossible to tell the exact source of the success, Zenft ā€œGrove Councilorā€ ā€œJustsomebonzaiā€ argued that the digital trees are ultimately spreading joy:
ā€œPeople genuinely like Bonsai, they're beautiful IRL and they're beautiful as an NFT.ā€