Aug 6, 2021 | Ibiza Blog | 0 comments

The Ibiza Crypto And NFT Report August 2021

Ibiza Blog | 0 comments

Written by Dan Kirwan

While one might think Ibiza would be a sleepy backwater with regards to its own Blockchain, Cryptocurrency, Tokens, Coins, and a dedicated NFT marketplace, the opposite is actually the reality.  There has been a Klondike Gold Rush style of migration to the island as digital prospectors of all race, creed and color start to stake a claim on the island’s digital future, which offers a ready made internationally recognised brand name and a multi billion euro market.

While there has been much activity behind the scenes, only one company, Ibiza Token, is actually trading on the ground. It’s been making good progress especially in the local NFT markets with many artists and musicians already signed up alongside service providers in the tourism industry. The blog has been supporting its Blockchain community ethos of decentralised networks with a series of articles which you can check out here. 

As many Ibiza entrepreneurs will testify to, running a business on the island is akin to swimming with sharks, such is the competitiveness of the environment there. When you are swimming with sharks, it’s not the ones you can see that you should be wary of, it’s the ones you can’t see that pose the biggest threat. That big fish is the talk of the island and rumours as to its size, compare to Spielberg’s famous Great White, but we are still awaiting its appearance to ascertain its intentions and species.

There are also reports of many other coins and NFT players in the dance music marketplace, with international names being linked to the island, especially in the DJ industry, where Deadmau5 is rumoured to have signed a number of Ibiza DJ’s to his Slickmau5 marketplace in America.  Both Amnesia and Hi Ibiza have released their own digital art, with an auctioned piece of Amnesia memorabilia realising a value in the region of 5000.

The NFT market is the hottest trend in the crypto world right now

Ex Barcelona star, Lionel Messi announced last Wednesday that he will launch his first official NFT collection “The Messiverse”. There are also a number of small independent operators trying to get a foothold in the market, but they will find it extremely hard to compete with the already established tokens or the big corporate operators who are sure to make their presence felt on the island soon. 

It’s a very exciting time for the crypto scene in Ibiza and it will offer investors a range of choices and options. We would advise that you choose your coin wisely, as each operates in a different niche market especially in Ibiza. 

While all crypto speculation is a gamble, and nothing is assured, it’s best to check that the ones you consider, meet EU corporate governance and audit requirements, are regulated under Spanish law and registered as a company on the island.

The Ibiza name offers added value, especially in the NFT market and while international brands will trade on the island, it’s those indigenous and niche to the island’s unique artistic culture and personality, that will offer the best value over time..

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