As you may recall, we had an NFT article a while back where we explained the confusion around non-fungible tokens and how to invest money in them. We explained that NFT could be collectibles – for example, art, financial products, or even in-game purchases. Today, we want to dig deeper and observe the newest updates and market value to understand the know-how in a world of digital assets.
The NFT euphoria continues to grow. August showed incredible results, and as we see now, Q3 2021 trading volume increased to $10.67 billion, up 704% from Q2 and up 38,060% year over year.
NFT is a blockchain-based asset that, as we said, can be anything. When we talk about art – memes or a music video – we do so from an investment perspective. In the world of non-fungible tokens, investors can buy them as tangible assets. But the best part is that the entire purchase and ownership history is transparent. It is a great opportunity for investors to spread their activities through the new growing blockchain technology. We can definitely say that this is a reason to believe that NFT will be with us for a long time to come.
Blockchain-based video games are also very profitable for investors. Players receive money for selling and buying in-game items – like skins or accessories. In-game trading volume is $2.3 billion by Q3 2021 and accounts for 22% of total NFT trading volume.
NFT is very popular with celebrities from all industries – be it music or sports. This definitely shows us that interest in NFT is growing and there are more and more win-win collaborations. Becoming a member of the NFT community is a privilege – you recognise people by their social media and become a member of the club. For example, anyone can use an NFT artwork as a profile picture on their social media account – after purchase, of course.
The best part of the whole NFT idea is that anyone can become an artist and sell their art. Among all the artists in the leading niche, we have to mention Cyber Punk. They are very famous in the community and their artworks are sold at extremely high prices.
Art is a mindset and only the one who really believes in this mindset can create something unique and special. Therefore, Blockchain is a great idea to realise digital art and investment.
The work can be anything – as we said – from memes to very rare and special things. You can see the top sales for the last 7 days here.
Through many collaborations – from NBA players to music artists – we must mention an industry that is not in the digital league – fashion. Even though the popularity of digital clothing is on the rise, we believe the future is near. At least, that’s what the numbers show. Recently, Dolce&Gabbana unveiled 9 NFT tokens – from shoes to dresses – and sold them for $5.65 million. This included a physical item and a digital video. The future is here, is not it?
NFT is building a large ecosystem where major brands and companies from all industries collaborate. It offers artists and creators the opportunity to participate in a profitable sale. Investors will look at NFT as an investment property with a transparent purchase history, a variety of investment opportunities, and last but not least, social status.
We definitely expect NFT to continue to grow, also because blockchains like Solana and Tezos are preparing their appearance.
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