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NFT

How to benefit off the NFT market

There’s no doubt that Non-Fungible Tokens are the most popular trend in the crypto community right now. From celebrities to respected companies, everyone is talking about launching their own NFTs. But not all NFTs are made equal: while some are worth a fortune, some can be practically worthless. Let’s take a look at some of the most profitable ways individuals and companies are making money during the current NFT gold rush.

Ways to benefit off the NFT Market

1- *Digital Works of Art*

When it comes to sheer profitability, individual NFT artworks are by far the most valuable Non-Fungible Tokens ever created. On March 11th, the history of blockchain technology and the history of art changed forever. Christie’s, one of the most renowned auction houses in the world, sold an NFT work of art for $69 million. It was the first time when Christie’s auctioned a fully digital artwork. The NFT is not a single artwork but a collage of 5000 tokenized images which Beeple was creating every day over the course of years.

2. *Licensed Collectibles*

Tokenizing collectibles seems like the most natural and obvious application of the Non-Fungible Token technology. The brands which were already selling physical collectibles such as trading cards can now also sell the same thing in a digital form. Since NFTs have provable rarity, the price of a digital trading card can be much higher than the price of its physical counterpart. But sports cards are just one example of what NFTs can be used for. Any physical collectible can also be turned into a Non-Fungible Tokens. While physical trading cards are easily damageable, NFTs can be securely stored on the blockchain, and they will never lose quality.

3. *NFT Video Games *

The NFT-based video games could very well be the future of NFT technology. So far, none of the games utilizing Non-Fungible Tokens managed to gain widespread popularity, but the potential of applying NFTs to video games seems tremendous. Gamers are already known to spend fortunes on virtual items. World of Warcraft gold, Call of Duty loot boxes or Counter Strike skins—all of these markets are already worth billions. If any major video game company decides to sell in-game items as NFTs, the impact of such a decision on both gaming and blockchain ecosystems would be tremendous.

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