Defi will help users have more tools to limit risks and make transactions more transparent. Metaverse will remove the geographical distance, make the impossible possible. together, everything gets better, and this is our mission.
#nftext #defi #metaverse #nft #crypto
#nftext #defi #metaverse #nft #crypto
Can you make money with NFT?
Staking: Depositing NFTs for a specific duration in exchange for rewards
Renting: Allowing users or players of various platforms to rent an NFT for a specific duration and interest rate
Royalties: Get royalties in perpetuity whenever the NFT is traded (for NFT creators)
Liquidity Pool: Earn rewards for taking part in liquidity pools
Yield Farming: Use rewards earned from one NFT passive income avenue and reinvest it in another for extra returns.
Staking: Depositing NFTs for a specific duration in exchange for rewards
Renting: Allowing users or players of various platforms to rent an NFT for a specific duration and interest rate
Royalties: Get royalties in perpetuity whenever the NFT is traded (for NFT creators)
Liquidity Pool: Earn rewards for taking part in liquidity pools
Yield Farming: Use rewards earned from one NFT passive income avenue and reinvest it in another for extra returns.
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How to Assess the Value of an NFT?
Factors that Drive an NFT’s Value
1. Rarity
This factor translates literally into how rare and “hard-to-get” a specific NFT is.
2. Utility
The utility of an NFT comes from its real application, in either physical or digital worlds.
3. Tangibility
Some NFTs are tethered to real-world objects, which gives value in terms of tangibility backed by ownership immutability. In essence, anything can be backed by an NFT to solidify ownership rights, but that does not make the object unique or high-demand. The underlying value of such an object will be determined by its practicality, scarcity, and the personal satisfaction it gives users.
Factors that Drive an NFT’s Value
1. Rarity
This factor translates literally into how rare and “hard-to-get” a specific NFT is.
2. Utility
The utility of an NFT comes from its real application, in either physical or digital worlds.
3. Tangibility
Some NFTs are tethered to real-world objects, which gives value in terms of tangibility backed by ownership immutability. In essence, anything can be backed by an NFT to solidify ownership rights, but that does not make the object unique or high-demand. The underlying value of such an object will be determined by its practicality, scarcity, and the personal satisfaction it gives users.
The Benefits of Gaming NFTs
Ownership: Traditional in-game purchases are one-time, non-transferrable investments that remain locked in a single gaming world. In contrast, using NFTs in gaming environments grants players ownership of their in-game assets instead of game developers.
Provable Scarcity: Collectors value rarity and authenticity, and the scarcity of in-game NFT purchases is provable through the immutable records embedded in an NFT’s underlying blockchain network.
Interoperability: Traditional online games exist on centralized servers. As such, in-game assets exist within proprietary systems that don't communicate with others. In contrast, decentralized games exist on independent blockchains that act as the backend framework for other interconnected games.
Immutability: When a traditional online game shuts down, users traditionally lose all of their in-game purchases. NFTs, however, exist independently of a specific gaming platform and live on the blockchain itself.
Ownership: Traditional in-game purchases are one-time, non-transferrable investments that remain locked in a single gaming world. In contrast, using NFTs in gaming environments grants players ownership of their in-game assets instead of game developers.
Provable Scarcity: Collectors value rarity and authenticity, and the scarcity of in-game NFT purchases is provable through the immutable records embedded in an NFT’s underlying blockchain network.
Interoperability: Traditional online games exist on centralized servers. As such, in-game assets exist within proprietary systems that don't communicate with others. In contrast, decentralized games exist on independent blockchains that act as the backend framework for other interconnected games.
Immutability: When a traditional online game shuts down, users traditionally lose all of their in-game purchases. NFTs, however, exist independently of a specific gaming platform and live on the blockchain itself.
What is Physical Non Fungible Token (NFT)
Physical NFTs are cryptographic tokens linked to physical assets that provide ownership of artwork, merchandise, property deeds, and other assets.
Physical NFTs have two parts where the digital one is stored on a blockchain, and the physical one is the one that you own in real life.
Physical NFTs are the strongest use cases for enhancing in-person experiences through blockchain technology.
Some examples of Physical NFTs
While in the NFT space, the focus is yet to be reflected on physical NFTs, there are some big names that have introduced themselves in the domain.
Adidas Original
In 2021, Adidas, the German sportswear company, made its way into the world of the metaverse by putting out an NFT collaboration with the famous Bored Apes Yacht Club.
WENEW
Co-founded by Beeple, WENEW is a platform selling “iconic” moments in history as well as cultural milestones as NFTs.
Physical NFTs are cryptographic tokens linked to physical assets that provide ownership of artwork, merchandise, property deeds, and other assets.
Physical NFTs have two parts where the digital one is stored on a blockchain, and the physical one is the one that you own in real life.
Physical NFTs are the strongest use cases for enhancing in-person experiences through blockchain technology.
Some examples of Physical NFTs
While in the NFT space, the focus is yet to be reflected on physical NFTs, there are some big names that have introduced themselves in the domain.
Adidas Original
In 2021, Adidas, the German sportswear company, made its way into the world of the metaverse by putting out an NFT collaboration with the famous Bored Apes Yacht Club.
WENEW
Co-founded by Beeple, WENEW is a platform selling “iconic” moments in history as well as cultural milestones as NFTs.
People purchase NFTs for various reasons, but according to a new survey from CoinGecko, the majority buy them for utility and long-term profits.
An April 10 CoinGecko report found most considered how much utility an NFT collection offers and the benefits of holding the token before buying, with over 77% of respondents saying using an NFT for its “intended function” had some level of importance out of the 11 listed reasons for buying an NFT.
However, 15.7% responded they were “neutral” about utility, and 6.7% felt it was “not important” in the decision-making process before buying an NFT.
The potential for long-term profits came in as the second most crucial factor, with just over 76% of respondents giving importance to selling their NFTs at a higher price later on.
- CoinGecko study -
An April 10 CoinGecko report found most considered how much utility an NFT collection offers and the benefits of holding the token before buying, with over 77% of respondents saying using an NFT for its “intended function” had some level of importance out of the 11 listed reasons for buying an NFT.
However, 15.7% responded they were “neutral” about utility, and 6.7% felt it was “not important” in the decision-making process before buying an NFT.
The potential for long-term profits came in as the second most crucial factor, with just over 76% of respondents giving importance to selling their NFTs at a higher price later on.
- CoinGecko study -
Lending utilizing NFT
NFTs can be applied not only in digital art or games; it is a unique technology and development that has found application even in finance. Tokens have already gone far beyond play-to-earn or conventional images. According to many experts, the new product round, the technology's good direction logo is NFT-credit.
With the help of their NFT, collections become collateral, through which people receive credit in case of force majeure or new potential investment opportunities.
NFTs can be applied not only in digital art or games; it is a unique technology and development that has found application even in finance. Tokens have already gone far beyond play-to-earn or conventional images. According to many experts, the new product round, the technology's good direction logo is NFT-credit.
With the help of their NFT, collections become collateral, through which people receive credit in case of force majeure or new potential investment opportunities.
In the music business, NFTs can take on a variety of forms. Amongst other things, a music NFT might be a song represented by an audio or video file, album artwork, a concert ticket, or official merchandise. Essentially, any sort of digital content associated with the music industry can be minted into an NFT.
The principle is the same for creating or selling music NFTs as it is for creating or selling other NFTs. A musician or band will decide what they want to sell to their audience before choosing the blockchain that they want to utilize to mint their NFT. In general, the most commonly used blockchain for music NFTs is Ethereum, with Polygon trailing at a distant second.
The principle is the same for creating or selling music NFTs as it is for creating or selling other NFTs. A musician or band will decide what they want to sell to their audience before choosing the blockchain that they want to utilize to mint their NFT. In general, the most commonly used blockchain for music NFTs is Ethereum, with Polygon trailing at a distant second.
One of the essential factors in determining the value of an NFT is its rarity. An NFT that is the only one of its kind is more valuable than the case there are multiple copies of an NFT. Uncommon or special NFTs have dramatically higher values. Being labeled as a ‘limited edition’ raises the token’s value since many investors choose to own a digital asset that no one else does.
Certain NFTs are more distinctive than others due to the qualities they have. Therefore, a low supply of a quality defined in an NFT may cause more demand for the token and, as a result, increase the value of the non-fungible token.
Certain NFTs are more distinctive than others due to the qualities they have. Therefore, a low supply of a quality defined in an NFT may cause more demand for the token and, as a result, increase the value of the non-fungible token.
The reputation of the creator of an NFT can also have a significant impact on its value. If the creator has a strong reputation and is well-known in their industry, collectors may be willing to pay more for their NFTs.
If a famous musician creates an NFT collection of their music, collectors may be willing to pay more for it than if an unknown artist had created the same collection. This is because the musician’s reputation adds value to the NFT and makes it more desirable to collectors.
If a famous musician creates an NFT collection of their music, collectors may be willing to pay more for it than if an unknown artist had created the same collection. This is because the musician’s reputation adds value to the NFT and makes it more desirable to collectors.
Another key factor that contributes to the value of an NFT is authenticity. NFTs are designed to be unique and verifiable, which means that collectors can be sure that they are buying an original, one-of-a-kind asset. This is particularly important in the art world, where forgeries can be a significant problem.
When buying an NFT, collectors want to be sure that they are buying the original asset and that it has not been duplicated or copied. The blockchain technology used to create NFTs provides a high level of security and ensures that each NFT is authentic and unique.
When buying an NFT, collectors want to be sure that they are buying the original asset and that it has not been duplicated or copied. The blockchain technology used to create NFTs provides a high level of security and ensures that each NFT is authentic and unique.
NFT Top Volume Market Report Week 1, May 2023.
The NFT market is still growing very strongly with many outstanding projects.
#NFT #NFTEXT #NFEX #NFTmarket
The NFT market is still growing very strongly with many outstanding projects.
#NFT #NFTEXT #NFEX #NFTmarket
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When most people hear about NFTs, they often associate them with Ethereum or possibly Solana. However, NFTs have expanded to many other blockchain networks, including Bitcoin.
Bitcoin NFTs may surprise many, but the network has quickly gained traction for creators and holders of digital collectibles. NFTs on Bitcoin are unique and do not have as straightforward tokenization processes as can be found on other networks. However, the Bitcoin blockchain provides an opportunity for NFT security, stability, and scalability.
Bitcoin NFTs may surprise many, but the network has quickly gained traction for creators and holders of digital collectibles. NFTs on Bitcoin are unique and do not have as straightforward tokenization processes as can be found on other networks. However, the Bitcoin blockchain provides an opportunity for NFT security, stability, and scalability.
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Like non-fungible tokens on other blockchains, Bitcoin NFTs have use cases that differ from that of ordinary tokens.
Digital art and music - Art pieces and audio can be turned into exclusive digital tokens by which holders prove sole ownership on the blockchain.
Collectibles - Other digital items can have value through utility or scarcity, and can represent affiliation with a Bitcoin DAO.
Gaming - Things such as in-game items can be converted into assets owned by players, creating a full in-game economy. These types of blockchain video games are often referred to as play-to-earn.
Virtual real estate - Unique tokens are an important part of the metaverse and the growth of virtual land.
Identity - Identification can be used with NFTs through decentralized identity and domain names.
Real-world property - Any asset, such as real estate, cars, physical art, and other objects can obtain authenticity and ownership on the blockchain in the form of an NFT.
Digital art and music - Art pieces and audio can be turned into exclusive digital tokens by which holders prove sole ownership on the blockchain.
Collectibles - Other digital items can have value through utility or scarcity, and can represent affiliation with a Bitcoin DAO.
Gaming - Things such as in-game items can be converted into assets owned by players, creating a full in-game economy. These types of blockchain video games are often referred to as play-to-earn.
Virtual real estate - Unique tokens are an important part of the metaverse and the growth of virtual land.
Identity - Identification can be used with NFTs through decentralized identity and domain names.
Real-world property - Any asset, such as real estate, cars, physical art, and other objects can obtain authenticity and ownership on the blockchain in the form of an NFT.
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