The NFT space is exploding for all the right reasons. Learn why they can be worth preserving for the long run, and how you can safely secure them with your BlockFi account.
It is no secret that NFTs have taken the world by storm this year. The industry has seen an increase in investor participation both retail and institutional. And you have most likely profited from them as well. Although skeptics continue to regard it as nothing more than a bubble in which Gen Z’ers continue to discover jpegs to flip for profit, it is becoming apparent by the minute that NFTs are here to stay.
1. Possession
You’ve probably figured out by now that NFTs address the ownership problem owing to their underlying technology, blockchain (if you are uninitiated, refer to articles on the blog to get in).
Given how NFTs exploit blockchain’s benefits, it’s easy to see why millennials and Gen Z’ers are on board.
2. GameFi
The online gaming business has always been massive, and NFTs have the ability to completely transform it. NFTs enable gamers to earn from their in-game purchases. In a shared economy, gamers will be able to swap game accoutrements like as clothing, and even special powers.
3. Increased Visibility
The key to the growth of any area is visibility, and NFTs have done good in this regard for obvious reasons. Creating ecosystems is one big one that is sometimes overlooked. NFTs are bringing creatives together, creating opportunities for collaboration, and developing strong marketplaces around creatives and their followers.
Anyone with an internet connection can upload their work to the internet, sell it to others, or collaborate with other artists to create more valuable items. Creators charge reasonable pricing, and buyers can pay in a wide range of tokens, promoting a flexible client-seller relationship.
