NFTs (or Non-Fungible Tokens) are one of the latest trends in crypto currency and have now garnered a wide spread seal of approval and demand from consumers and collectors alike, with artists now hoping to trade their products to a larger proportion of buyers in the efforts of gaining more traction in the crypto market.
While NFTs are the latest high-profile asset across all forms of the digital marketplace, there remains a number of audiences who are still unaware on what an NFT actually is and where these products have originated from since spanning into mainstream media.
Simply put, an NFT is usually a form of digital artwork or video that is produced by an artist and cannot be replicated by any other form of media, with most NFTs usually revolving around real-life events and style to help keep intertwined with their target demographic group on the crypto circuit.
The first NFT created has been dated back to 2014 by artists Kevin McCoy and Anil Dash whilst they were both live at the Seven on Seven conference, from which they experimented on a Non-Fungible token that was produced and therefore enabled by an on-chain metadata (Namecoin) before being linked to a unique work of art.
Since McCoy and Dash’s breakthrough, these forms of crypto art have now spanned out into various video related titles such as games and playbacks as well as the further development of artwork that have now become popular amongst many suitors across social media and other digital platforms including Rare Pepes and Cryptopunks.
One of the most popular NFT assets available today are now currently in the form of the Bored Ape trend and collection that is used by various artists and high-profile celebrities across social media to promote their unique listings.
While NFTs are immensely popular across the crypto circuit, artists should be aware of the advantages of trading their products and the benefits that such a method can create when searching for ways on how to sell an NFT, particularly those in sports.
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What are the main advantages of trading an NFT?
When creating an NFT and later trading it on an active marketplace, any artist can take great pride that the product that they have produced is their own and can never be replicated by anyone else.
NFTs are also indivisible meaning that they cannot be further distributed between multiple owners with the artist confirming to their buyers that the NFT that has been produced is fully valid, safe and not fake.
Anyone who has an image of an NFT that isn’t their own design must always ask for permission to use the original artist’s product before taking it into their own account which can be especially valid in sports such as the production of an NFT featuring a key highlight from a high-profile athlete.
Producing assets such as a sports highlight or a commemorative piece of art can often showcase an artists authenticity and act for producing a unique listing of popular athletes plays that can thereby attract a number of key members of the industry’s target demographic and potential consumers.
Without question the key advantage brought about from NFT trading is the easy solution of earning income from an individuals direct work meaning that artists can sell their work online without any hassle or the need to pay others to promote their products, in fact an NFT marketplace is widely considered to be the best way for creators to produce and list their work whilst being able to communicate fully with their consumers.
The purchase and subsequent trading of NFTs is also viable for consumer needs as a customer who is aiming to produce a collection or collaboration of NFTs can take possession of their new purchased asset and as such witness its value increase over a set period of time.
There is also the option of reselling these products which is the best way for many individuals or groups involved in NFT production to make a greater profit and investment within the crypto circuit as some trades could total to almost double their original purchase over time.
Which NFTs are the best to buy and trade with in 2022?
Finding a developing trend in the NFT market that is worth investing in can often be a challenge, yet there are a number of popular assets that many consumers may look to invest in further.
Arguably the most popular of those if the Lucky Block Platinum Rollers Club NFT which is a game-centric crypto platform using the Binance Smart Chain, with another notable mention being the Metaverse ecosystem Decentraland with the native token MANA priced at $1.02 on the market.
Being involved in a sector that has witnessed a significant upside on the scale of NFTs in recent years has certainly merited most artists and resulting traders with great value and demand across the digital market with this trend only likely to increase throughout the remainder of 2022 and heading into 2023.