What Makes NFTs Valuable? – Alexus Renée Celebrity Myxer – Celebrity Myxer
Even though NFTs have usually been associated with the world of digital art, you can’t deny the fact that they have been taking over a number of industries and will continue to do so.
From music, art, the meta-verse, and even fashion, NFTs are paving the way for digitalisation. So why would they not be valuable? As you may know, there’s always talk of “bubbles” in new industries.
When something is hyped up, it is a matter of time when the said “bubble” will burst. But that was said in the 90s and 2000s with the internet, then again with Bitcoin, and now look where we are.
So let’s take a look at what ultimately makes NFTs valuable.
As more and more industries are entering the world of NFTs, we see them taking over things we could never have imagined before. NFTs are giving us a new way to claim ownership of digital assets and are allowing creators to receive their fair share of profits whenever their NFT is sold or resold.
The reselling of an NFT means the value will always go up, as content creators can receive royalties each time it is sold. In addition, NFTs in music are just getting started and with that a new practice in the industry is evolving.
This will allow singer-songwriters to sell their songs as NFTs that individuals can buy where they would receive profits from the song, as well as royalties whenever it is resold or played.
This has never been done in the music industry before, and with the success of it, we are sure it won’t go away. Not only that, but NFTs have even entered the universe of fashion.
Adidas for example launched a collection of clothing tied to NFTs. This has allowed individuals to know that they can own one of their unique clothing pieces with proof of ownership through their NFT.
NFTs will also have the most value in the gaming universe. From gaming accessories to what we used to know as skins, all will soon become NFTs that you can own.
Projects and metaverses such as Decentraland and The Sandbox allow you to craft your own in-game NFTs that you can sell on the marketplace.
Many industries will be affected and changed in the process of adopting this new mindset.