What Are the Different Types of NFTs That Exist on the Market Today?
Are you an investor? If you are, there’s no doubt you’re on the hunt for the next money-making opportunity. You don’t need to look any further than NFTs.
NFTs have grown wildly in popularity over the last year. If you don’t know what they are, they stand for non-fungible tokens. In a nutshell, they are unique files that contain information.
These files most often contain unique images. However, many different types of NFTs exist. NFTs have been an avenue for the art collection to break new ground in the digital world.
NFTs are more than just art, though; here are some other things that NFTs can be.
Artwork
Artwork is the most popular type of collectible NFT available. They contain digital artwork that comes with a certificate of authenticity and ownership. The certificates are distributed by the distributed ledger technology on which they are kept.
You can learn more about the top NFT artists and their work to get a feel for what you like.
Collectible Types of NFTs
Various forms of collectibles have been sold for thousands of dollars, especially those that are rare. NFTs are available as trading cards and can be kept as collectibles.
The first collectible NFT was CryptoKitties, unique digital kittens that first became available in 2017. Part of the reason they are so popular is that they were the first NFTs created.
There are many different trading cards and collectible NFTs on the market produced by companies.
Music
Music has been a fungible commodity for decades. This means that the music you buy is interchangeable and replaceable, whether they be CDs, cassettes, records, and digitally. However, musicians and DJs have begun selling their work as NFTs.
Musicians only get to pocket a fraction of the money they release thanks to streaming services and record labels. They get to keep nearly 100% of the profits they make from releasing music as NFTs.
Sports Memorabilia
This is a hot category of NFTs. The most popular category of this type of NFT is the NBA Top Shot.
These NFTs include a video of memorable moments in sports. One of the most notable clips is a video of Lebron James dunking. It sold for over $380,000 and is one of the most expensive NFTs of this category ever sold.
Event Tickets
Event coordinators can use NFTs as forms of verification of people’s tickets and identities. Organizers can use a public blockchain to create a set number of NFT tickets.
Tickets can be purchased at auctions and then stored on mobile devices in virtual wallets.
The Next Step in Digital Media
There are so many different types of NFTs that you can use for investment or entertainment. There are so many different ways to use this technology that make it an appealing option across multiple industries. This is one innovation that seems like it will be here to stay for a while.
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