There are around five hundred and twenty NFTs in the memorabilia, with each and every token representing an artistic version of the Queen with rather a notorious connotation attached to it.
While the world mourns the death of Queen Elizabeth II, her demise has given rise to several NFT designs as part of the money-minting practices of crypto users. An Ethereum NFT project, which curated more than twelve NFTs as a tribute to Queen Elizabeth II over the last two months, is presently conducting its last auction for the memorabilia today, after the passing of England’s longest-serving monarch.
QueenE commenced its first bid in the first week of July, providing a unique Ethereum Non-Fungible Token picture as a homage to the former queen of England. The project was designed in the first place by Web3 developer Fabio Seva. The NFT was created to introduce brand-new consecutively produced pieces at a uniform clip for the rest of the Queen’s life.
Several crypto grifters have grabbed the opportunity to introduce several Queen-themed meme coins on Ethereum and Binance’s BNB Chain.
Some of the names of such NFTs are given as follows: “Queen Elizabeth Inu,” “Queen Doge”, “God Save the Queen”, “London Bridge is down” etc. Several meme coins based on the current monarch King Charles II have also been doing rounds. As many as forty meme coins have been introduced on the blockchain in the past 6 hours.
Ever since its introduction to the market, the most famous tokens, named “Save The Queen” and “Queen Elizabeth Inu”, have already been able to raise $700,000 and $200,000 in trading volume. Queen Elizabeth Inu has seen a rise of 23,27% on Binance Smart Chain and 3708% on Uniswap, while the cost of “Save the Queen” tokens has increased by 1517%. While the rates are massively unstable, and very unlikely to stay at the current price levels, it is surprising to see how much money such historic events can make.
It is important to acknowledge that the tokens Queen Elizabeth Inu and Elizabeth have merely $17,000 and $204,000 worth of liquidity supporting them. This means that there is a shortage of heavy backing behind the tokens, which would therefore eventually lead to a temporary pump and dump.
In total, there are around five hundred and twenty NFTs in the memorabilia, with each and every token representing an artistic version of the Queen with rather a notorious connotation attached to it. While primary trade for the QueenE NFTs has dropped, secondary sales have picked up the pace with Elizabeth II’s demise. Presently, the least expensive NFT available in the marketplace is placed at 0.88 ETH, or $1,450.
Sanaa is a chemistry major and a Blockchain enthusiast. As a science student, her research skills enable her to understand the intricacies of Financial Markets. She believes that Blockchain technology has the potential to revolutionize every industry in the world.
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