A Short Brief on what Non-Fungible Tokens are all about
I was not at all bothered with all the fuss about NFTs not until I found out that the CEO of Twitter put up an autographed Tweet up for sale as an NFT and made millions of bucks. It was there and then that I made my resolve. I was almost crying because I had sellable arts (just joking, I did not have any) and I could have made millions too.
What is the future of digital art? You guessed right. The Future is Non-Fungible Tokens!. Non-Fungible Tokens are making waves in the cryptocurrency space, and they haven’t even been released to consumers yet. The value of Non-Fungible tokens has tripled since 2020, with an estimated $250 million being traded by collectors alone during that year’s first quarter. With this much growth potential, NFTs may be one investment strategy worth looking into as it becomes more mainstream among buyers who want one-of-a-kind products from their favorite artists! Cool right?
Another example is a digital artwork twinned with a physical painting created by a humanoid robot in Hong Kong. This NFT fetched up to $700 000 at the auctions.
Non-Fungible Tokens can be found in many different niches, but they have also been introduced into the music world. One American rock band called King’s of Leon launched their newest album as a Non-Fungible Token! This innovation allows artists and musicians to get more involved with NFTs since digital art never existed before this new technology was invented. With these Non-Fungible on platforms like CryptoKitties or Blockchain Cuties, Bands can sell tickets and merchandise albums without having them go through traditional intermediaries who take away most profits from sales anyway.
Where are the best places to buy and sell your NFT?
Below are a few NFT marketplaces that you can Buy and Sell NFT:
The NFT Marketplace is a quickly growing market that has been steadily gaining traction in recent years. As such, artists and collectors (and even you) need to know the best place to buy and sell their NFTs to make informed decisions about where they want to do business with other enthusiasts looking for quality pieces from these emerging genres of digital artwork.
Fortunately, there are plenty of options available through various online NFT marketplaces like OPSkins Marketplace or OpenSea Market. These NFT Marketplaces provide everything you need as an artist—from buying materials to crafting your work while also giving access points into this new frontier if you’re starting!
Superrare: This NFT Marketplace is Stylish and selective. The site offers unique single version pieces made by artists. That’s not an all-each piece on the website can be classified as an ‘encrypted’ collectible item that you own and trade with others. What does this mean? It means each time someone purchases or trades one of these items; it will have its very own rarity value determined by how many are circulating in the world at any given time (think like trading cards!). You may even consider “owning” your favorite art now because they’re available to purchase without fear of them ever being taken away again so long as there is enough demand from collectors worldwide for their work!
Nifty Gateway: To get the newest limited edition Nifties, you need to drop by at their marketplace. They partner with many of your favorite celebrities and brands who are constantly dropping new items for sale on this site which is why it’s worth checking out! Once you buy NFTs, you can trade them on the secondary market for other unique tokens. The new releases have been a hit with collectors because of bundles that come out every week and drops available at purchase time. You don’t need to worry about paying in crypto-fiat currency is accepted too.
Async Art: Imagine a world where you can own an individual layer of art and adjust its properties over time. This is the premise behind the creation of Async Art, launched in February 2020 as “Programmable Arts.” The platform provides access to galleries and institutions across all mediums that render digital assets for ownership using blockchain technology
Zora: This is an NFT marketplace that was previously invite-only. It has since become open to the public and easy for users to buy and sell Non-Fungible Tokens without interacting through other platforms. Zora’s auctions are permanent, so you can bid in any currency on anything you want; it doesn’t matter what you’re selling or who owns it—anyone can place a bid at their chosen price! One of my favorite releases from them recently included digital copies of RAC’s BOY album on vintage tapes sold as one lot along with physical versions!
Mintbase: MintBase allows you to sell NFTs from art and tickets up through music. Get started by setting your parameters for which type of asset you want to mint or buy-sell before transferring it over into OpenSea, where buyers can purchase them with ETH.
Foundation: Foundation is an NFT Marketplace where artists can unite to share their work and be found by customers (including you). They only accept the most cutting-edge, offbeat art from original creators, as evidenced in their shop of unique content! Foundation is a digital marketplace for creative talent curated exclusively by fellow creatives with an eye on innovative design trends. The Marketplace has lots of artists and designs. Foundation wants you to experience everything they make—from fashion lines to furniture pieces or even custom jewelry designs made just for you.
Open Sea: Open Sea is a decentralized marketplace for all things NFTs. This NFT Marketplace is open to every artist, art collector, and virtual world item hoarder – even if they don’t have an invite or request! More than just your usual digital collectibles trade site, Open Sea has eclipsed the transaction volume of any similar service with its variety-packed inventory that spans everything from gaming items and sport trading cards to fairytale artwork. With more than 1 million listings in over 100 categories on their primary market alone, countless options are waiting for you here.
Other Notable mentions are; Makers Place, Rarible, Terra Virtua and Bakery Swap
The Makers Place is a virtual reality experience that allows you to create your world. Terra Virtua offers an online world with many features, which you can access through any device, including VR headsets and mobile devices. Bakery Swap lets you sell your baked goods for cash or swap them all together with other sellers in the NFT Marketplace.
The possibilities are endless when it comes to NFTs. You can trade digital artwork and tokens representing real estate projects in the virtual world. There is plenty of potential for Non-Fungible Tokens, considering how popular they have already gotten over time. In the future, you may see platforms other than Ethereum shifting their focus onto supporting NFT-based transactions too!