There are nearly five hundred and twenty NFTs in the memorabilia, with every token representing an artistic version of the Queen with somewhat a notorious connotation attached to it.
While the entire world mourns the death of Queen Elizabeth II, her demise has resulted in the rise of several NFT designs as part of the money-minting practices of cryptocurrency users. An Ethereum NFT project, which curated over twelve NFTs as a tribute to Queen Elizabeth II in the past two months, is now doing its last auction for the memorabilia today, after the passing of England’s longest-serving monarch.
QueenE started its first bid in the first week of July, offering a distinct Ethereum nonfungible token (NFT) picture as a homage to the former queen of England. This project was designed in the first place by Web3 developer Fabio Seva. The NFT was developed to introduce brand-new concurrently produced pieces at a uniform clip for the rest of the Queen’s life.
Many crypto grifters have taken the chance to introduce several Queen-themed meme coins on Ethereum and Binance’s BNB Chain.
Some of the names that came up are as follows: “London Bridge is down”, “Queen Elizabeth Inu,” “God Save the Queen”, and “Queen Doge”, among others. Many of the meme coins based on the current monarch King Charles II have also been doing some rounds. Up to 40 meme coins have been introduced on the blockchain in the last 24 hours.
Ever since its introduction to the market, the most famous tokens, named “Save The Queen” and “Queen Elizabeth Inu”, have already managed to raise $800,000 and $300,000 in trading volume. Queen Elizabeth Inu has seen a surge of 2327% on Binance Smart Chain and 3708% on Uniswap, while the total cost of “Save the Queen” tokens has gained 1517%.
While these rates are significantly unstable, and quite unlikely to stay at the current price levels, it is incredible to see the amount of money such historic events can make. It is crucial to acknowledge that the tokens Queen Elizabeth Inu and Elizabeth have just $17,000 and $204,000 worth of liquidity that is supporting them.
It means that there is a shortage of heavy backing behind these tokens, which would thus eventually result in a temporary pump and dump. In general, there are about 520 NFTs in the memorabilia, with 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. For now, the least expensive NFT available in the marketplace is placed at 0.88 ETH, or $1,450.
