Am I too late for NFTs? Is that what confuses your mind these days? NFTs (Non Fungible Tokens) is a term that has become the talk of the town. Moreover, it has gained immense momentum in the past two years. Because the global NFT market grew 2x in the last 2 years. It is all over the internet. Now, you just came across it. You wondered what it is. Well, it turns out it is a great opportunity. The first thought that might pop in your mind will be, “Am I too late for it”?
Well, let us tell you, you are not late at all. In fact, you are just in time. Still, there is a lot that the billion-dollar NFT market has to offer. You can still break into it as a beginner and make your way to making your fortune. If you have any experience with cryptocurrency and blockchain technology, it is a plus point. If not, do not worry. However, we do recommend you get your hands on cryptocurrency.
Now, let us get you to the real game. Now, you might be wondering what an NFT is. Let us shed light on that first.
In a word, Non Fungible Tokens are unique digital assets. These are tokens of cryptocurrency. You can draw a contrast for no fungible tokens with cryptocurrency. How? Just like crypto is a digital currency, NFTs are digital assets. You can read a brief introduction here.
Well, the opportunities in NFTs world are innovative, wide-ranging, and still coming up. That is why; many major brands and entities are tapping into the potential of NFTs.
Adidas, recently, became the latest company to enter the realm of NFTs with a tint of innovation. It launched an entire collection as NFTs. With the collection named “Into The Metaverse”, it dived straight into the Metaverse. In fact, it already made a whopping $23 million in profits. How cool is that!
NBA is another popular name that delved into NFTs. It went a mile ahead and introduced its own NFT marketplace called the NBA Top Shot.
Several Celebrities joined the NFT league as well. Notable names are Paris Hilton, Grimes, Ellen DeGeneres, Snopp Dogg, Eminem, Jack Dorsey (CEO of Twitter), Kate Moss, and Shawn Mendes.
This speaks volume about how profitable NFTs can be, as these big names are jumping. Well, just like, you can take a chance as well. Who knows, you might be able to make a mark and win big. Now you are sure that you are not too late for NFTs. So let’s dive in.
Let us put that in a single sentence. “Anything in the digital format.”
It can be music, images, text, or videos. You can convert any of these to NFTs. You may have heard that the real estate industry is also stepping into the NFT world.
What is NFT art? If you are an artist, designer, or illustrator, Non Fungible Tokens are a jackpot for you. (If you are not an artist don’t worry this article is for you). You can make a fortune by selling your artwork as an NFT. All you need is to convert that artwork into a digital form. OpenSea is a popular marketplace for NFTs that holds immense potential when it comes to selling artwork as NFTs.
Owners at the NFT marketplace sell all kinds of weird things, such as memes. Just a fun fact, the most expensive meme sold as NFT was for $4 million. Moreover, Jack Dorsey, CEO of Twitter, sold the first-ever tweet as an NFT for $2.4 million in 2019.