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Despite an extended crypto winter, Galaxy Digital and its CEO Mike Novogratz remain bullish and ready to tell the world about the company’s first NFTs.

The 3,210 digital collectibles, announced Friday as part of Galaxy’s Explorer Collection, will be released on October 14. The NFTs will celebrate not only the company’s new logo, a square and circle that resembles a space helmet, but also Novogratz’s confidence in the industry.

“Crypto is going through a tough time, but we’re still here,” he said. Fortune. “We are building for the future.”

NFT sales have been declining for months. The volume of transactions on the most popular NFT market, OpenSea, has decreased more than 12% over the past 30 days, according to crypto analytics platform DappRadar, which also recorded the most popular collection, Bored Ape Yacht Club, over the same period. slippery about 11%.

Despite this, Novogratz pointed to the adoption of the technology by large companies like Nike and major sports leagues like the NBA as proof that NFTs are here to stay.

” In many ways [it] was easier to get people to understand blockchains through NFTs than through Bitcoin,” Novogratz said.

Galaxy’s NFT Collection, created in partnership with TIMEPieces, Time’s Web3 initiative, will feature the creations of three generative artists: Jake-Andrew, Parin Heidari and William Kwaku Amo. They created the pieces using computer code to reflect their own distinct styles, said Eva Casanova, head of labs at Galaxy Interactive, one of Galaxy Digital’s funds.

Each NFT is unique, Casanova added, and using the code, the artist gives each piece a number of different traits, similar to collections like CryptoPunks. But unlike CryptoPunks, which have traded for hundreds of thousands of dollars, the company airdrops NFTs for free to employees, founders of portfolio companies, as well as industry partners. Although the pieces are not intended to be sold, if so, the proceeds will go to the artists.

“We don’t do this as a financial business. We do this to create a spirit in our community,” Novogratz said. “We are here for the long haul.”

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