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NFT TrendsWhat Exactly Can You Do with NFTs?

What Exactly Can You Do with NFTs?

 In a recent development, fortune 500 companies and celebrities are launching their NFTs. However, not every NFT is make the same. While some are not worth much, others are worth a fortune. For instance, Justin Bieber recently bought an ape from the BAYC collection for $1.3 million.

With this in mind, it is no longer news that Non-Fungible Tokens are one of the most talked-about news in the Cryptocurrency world. In this article, we will discuss some of the best methods of marketing your Non-Fungible Tokens (NFTs). As well as how other companies and celebrities that are successful in the NFTs business are running theirs. Before we delve into explaining how you can make a fortune from NFTs. Let us break down what Non-Fungible Tokens really are.

NFTs (Non-Fungible Tokens) are digital assets built on the Blockchain with unique metadata. And identification code that differentiates one NFT from another. Non-Fungible Tokens are often confusing to be cryptocurrency but there is a slight difference. NFTs cannot be trading at equivalency. This creates a chasm between cryptocurrencies (grouped into Fungible Tokens). Which are similar one to another and are been use commercially.

Note that Non-Fungible Tokens are digitalizing tokens built on the Blockchain which does not have the capacity of being replicate. This means they are using as a representation of real-world goods. Or services for example real estate or art work etc.

There are diverse ways of earning a fortune from Non-Fungible Tokens. And this article covers the three major ways you can make good money from NFTs and they are stating below:

1. Digital Works of Art

When absolute profit is mention, personal Non-Fungible Tokens are the most valuable of all the NFTs ever create. The history of blockchain and its technology received a massive turnaround on the 11th of March. When a renowned auction house owned by Christie sold a Non-Fungible Token. Which was apparently a work of art but digitally done.

The artwork which was name “Everyday: The First 5000 Days” was launching by a digital artist called Beeple. The NFT is a collage of 5000 well-tokenize images and not a single piece of art. This was create over the course of the years by Beeple himself.

Beeple has set a record but his record could be surpassed soon knowing that Beeple was not known widely by a lot of people. In spite of his relative unpopularity, his digital artwork was sold for a high price. Imagine a renowned artist like Banksy selling his digital artwork.

Meanwhile, some people have raised concerns that marketing a link to a picture for a huge ton of money is money laundering. However, there is another school of thought who believes that Non-Fungible Tokens could be the next big revolution of the art world.

2. Licensed Collectibles

Tokenized collectibles appear to be the most obvious yet natural NFT technology. Brands that are already known for marketing collectibles like trading cards physically can sell the same physical collectibles in a more digital form. The price for this digital card would likely surpass that of the physically sold trading card.

For now, sports cars are the most well-known kind of licensed Non-Fungible Tokens. It gave people the leverage of trading the cards of footballers but in recent times, the NBA has created its own Non-Fungible Token which is a card collection. With this initiative, other sporting organizations and forums will likely follow suit.

Note that sports cards are just a single model of the use of Non-Fungible Tokens. This is because trading cards that are physical are easily damage whereas Non-Fungible Tokens are store on the Blockchain securely while the quality remains intact regardless.

3. NFT Video Games

The Non-Fungible Token-base video games are arguably the future of Non-Fungible Tokens even though none of the video games that make use of NFTs are widely know.

Gamers are among the people who spend so much on buying virtual games, for example, Call of Duty, Counter-Strike, World of Witchcraft gold, etc are worth so much money already and with this, any video company that chooses to adopt Non-Fungible Token or sell their in-game items as Non-Fungible Tokens would pose a great decision not only to gaming but to the entire ecosystem of blockchain at large.

When simply contrasted with digital trading cards and virtual works of art, the most advanced of them all is the in-game Non-Fungible Tokens. NFTs which are use in video games are by far complex, complicated, interactive, and open to change by virtue of upgrading and leveling up just as the player’s character progresses.

The Future of Non-Fungible Tokens (NFTs)

NFTs are way more than mere cryptocurrency trends which come and go as soon as they come. The technology responsible for is veste with a bunch of applications and the range at which Non-Fungible Tokens are utilize is just a tip of the iceberg.

The Non-Fungible Tokens technology is a gold mine is only starting as many persons including business tycoons are making a strong decision to plunge into the ecosystem of Non-Fungible Tokens.

The mere fact that most of the widely known NFTs are digitalize images reveals that NTF market is still developing and thus wide open for new investors.

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