People love collectibles. It can be in form of a print, material or a digital content. Collectibles are means to cherish your memories forever. We have been doing these throughout history and will be doing in future also. Check out all the details regarding benefits of NFT collection.
The trend of collections are moving with the times and technology. In today’s age, it has got a new and techy name – NFT. It is acronym of Non-Fungible Token.
These are becoming increasingly popular to collect. Whether it is a form of art, music or in-game items, there are countless types of NFTs that you can collect. This article will take a look at the benefits of collecting NFTs, and how you can get started. But, before that learn a little bit background of it.
What is NFT?
As mentioned earlier, full form of NFT is Non-Fungible Token.
In a nutshell, it is kind of a digital asset. It is not in a physical form which you can touch, hold, smell or do any kind of interaction. NFTs are stored in a cloud / server. It is baked by the latest blockchain technology. Using blockchain, you can track and verify the ownership of each asset, over the entire network. In a simple language, NFT represents ownership or proof of authenticity of an unique item. It is a piece of digital content.
Examples can be an artwork image, music, video, gaming assets, parts of virtual real estate or other types of such media. It cannot be exchanged for an equivalent item like traditional cryptocurrencies. This is the reason it is named as ‘non-fungible’. It cannot be interchanged. You also cant make a replica of it. Such uniqueness makes makes it easy to buy and increase your collection.
Benefits of NFT Collection
It is a new age thing, which provides some new and unique benefits for collectors. Check them out.
- Ownership: As stated earlier, the blockchain technology verifies the ownership of the digital asset. It always have an unique digital identity.
- Authenticity: You can always track the entire history. So, it cant be manipulated and remains temper proof.
- Low volume: These are limited, kind of an exclusive contents. Hence, it increase the value over time. To get more profit, you need to hold it for a longer duration.
- Liquidity: Options of buying and selling NFTs are always open in the market. Such ease makes it a great investment option of the latest tech age.
- Decentralization: It is one of the biggest benefits of NFT collections. As these are stored on a blockchain network, the decentralization process comes in hand. So, transfer is always safe and secure.
- Accessibility: As it a digital asset, it can be traded and managed online in a global level.
So, now you know that NFTs can be stored securely on the blockchain. As long as you have access to your wallet like those provided by OKX, you’ll be able to access your collection anytime, anywhere. This makes it easy for collectors to track their NFTs and ensure they are safe.
Collecting NFTs can be a great way to make money online. As demand for NFTs increases, so do their prices. Collectors can take advantage of this by investing in NFTs that they think will increase in value over time.
Popular NFT Marketplaces
There are a number of popular NFT marketplaces that you can use to buy, sell, and trade NFTs. Some of the popular marketplaces include OpenSea, Rarible, and SuperRare. Each marketplace has its own selection of NFTs and fees, so it’s essential to do your research and find the one that best suits your needs.
OpenSea
OpenSea is one of the popular and largest NFT marketplaces. It offers a wide range of NFTs, from digital art, gaming art to collectibles. It also has a range of features, such as auction houses and NFT portfolios.
Rarible
Rarible is another popular NFT marketplace. It offers a range of NFTs, from digital art to gaming items. It also offers features such as trading cards and NFT portfolios.
SuperRare
SuperRare is one more options. It offers a wide range of NFTs in the form of artworks and features such as auctions and NFT portfolios.
NBA Top Shot
As name suggests, NBA Top Shot is a a platform dedicated for the said game. It deals with the officially licensed NBA highlights.
Bored Ape Yacht Club
It became an instant hit due to the name ‘Bored Ape’. It is known for its unique community and trading culture.
How to find the latest featured NFTs?
There are many ways to get the latest news. Check them out.
NFT marketplaces
Some popular are already mentioned above.
Social media
Follow the NFT creators, artists, and collectors on social media platforms such as Twitter, Facebook and Instagram to stay updated on the latest releases and sales.
NFT news websites
Websites dedicated to this news and trends, such as NFT News, NFT Report, and NFT Bazaar, often feature the latest NFT sales and market trends.
NFT community forums
Online forums and discussion groups focused on NFTs, such as the NFT Collectors Club on Reddit, provide a platform for collectors and enthusiasts to share information and discuss the latest NFT releases.
NFT events
Virtual NFT events, such as Nifty Summit, regularly showcase the latest NFT projects and trends in the industry.
Conclusion
One more trend is on the horizon. And that is the NFT-Based “Play-to-Earn” Game. In such games, the players can real cryptocurrency rewards as their rewards. Major gaming companies like Ubisoft and Samsung are already in it. This market is going to be huge in the coming years. As per the official reports, this vertical of M&E (Media & Entertainment) industry will reach up to153 billion by 2024.
Collecting NFTs can be a great way to invest in digital assets. But, to do so, you need the right knowledge and strategy. We hope that our this case study blog article will help you to make it be a profitable venture. So, if you’re interested in collecting NFTs, now is the perfect time to start! Make sure to do all the market research before investing.