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All NFT prices are not equal. You may find some with skyrocketing prices, while some can be practically worthless. However, we have mentioned the ways through which you can make money during the current non-fungible token gold rush:
Digital Works of ArtM
The cost of the high-valued NFTs is created through individual non-fungible token artworks. For example, on March 11, 2021, the most expensive non-fungible token artwork (fully digital) was sold for nearly 69 million in the recognized auction house named Christie’s.
The NFT was not a single artwork; it was a collage of 5000+ tokenized pictures created in a couple of years by Beeple (Mike Winkelmann). This instance proved that non-fungible token have really revolutionized the world of art and nobody realized the potential of NFTs is so high.
NFT Video Games
NFT video games are sustainable. They are the future of non-fungible token technology. Video games featured with non-fungible token technology have great potential to become popular worldwide.
Some games, such as Call of Duty, World of Warcraft, PUBG, or Minecraft, have a market of more than worth billion. If games like these start featuring non-fungible token technology in their games, the impact will be impressive.
Most of the game developers are NFT creators, which will help further to push the evolution of non-fungible token technology. However, the Non Fungible Tokens used in video games are usually complex, fully interactive, and should change over time to keep leveling up the character.
The most natural and evident way of earning money through non-fungible token is tokenizing collectibles of this technology. The brands selling trading cards or any other physical collectibles can sell precisely the same thing in a digital form. As of now, the NFT usage is rare, which might be the reason that increased the digital trading card’s price compared to its physical counterpart.
One of the most recognized licensed non-fungible token collectibles till now is sports cards. Firstly, the footballers allowed people to trade non-fungible token licensed cards; later NBA also introduced its non-fungible token card collection. Moreover, it is perceived that baseball and Hickey non-fungible token cards will also be launched in the future, which boosts the market for these cards and becomes one of the significant sources to generate revenue.
Future of NFTs
The explosive momentum of blockchain technology is more than another quickly passing crypto trend. The NFT technology has led to the emergence of many new applications.
With the increasing number of businesses, celebrities, and individuals are entering the non-fungible token world, the prices of the NFTs are also constantly increasing. In fact, many non-fungible token are still undervalued just because this new technology has not gained utmost recognition until now. All in all, the greatest potential of Non-Fungible Tokens is yet to be explored, and the right time to discover the best deals over the best NFT marketplaces is now.