JOINING THE NFT GAME
NFTs, you’ve probably heard of them if you’re interested in cryptocurrencies, but also if you’re an artist looking to earn a living from your digital art! https://sus.live/who-benefits-from-nfts/
NFT is the new black! This is undeniable!
In a world of constant digital evolution, NFT has earned its value in the marketplace. the question is how do you join the NFT game and what does it entail? In today’s blog, let’s discover more about it.
1. Touch base about the ins and outs of NFTs.
Knowing that it’s trending is one thing, but understanding what an NFT is and how it’s become so popular and mainstream in the digital marketplace is the starting point.
NFT stands for “non-fungible token”.
In economics terms, a fungible asset refers to something whose units can be easily exchanged, such as money.
For example, with money, you can exchange a 10-euro bill for two 5 euro bills and it will have the same value. However, if an asset is non-fungible, this is impossible – because it has unique properties that cannot be exchanged with another asset.
This is the case with a work of art, for example, a painting like the Mona Lisa, which is unique. You can take as many pictures of the painting or buy copies, but they will never be worth the original painting. Your NFT is your work of art!!!
Who would have ever thought that one day you could own a work of art without even having to break into an art museum?
NFTs are “unique” assets in the digital world that can be bought and sold like any other asset, but they have no tangible form of their own.
2. Assess the value and popularity of NFTs in the marketplace.
NFTs have become very popular at the moment. But how do you know if it is “safe” to invest and assess its market value?
Judging the value, the very relevance of an NFT is not an easy task because it is difficult to say what makes an NFT valuable.
To do this, we must first understand the concepts at work. Use cases, for example, are important, as is intrinsic utility. Since the beginning of 2021, many applications of NFTs have emerged. For example, NFTs have improved video games by bringing a notion of ownership to loots. The anticipation of future utilities is very important for the evaluation of NFTs.
Some NFTs also have a higher resale value that can increase with user involvement and attention. By owning an asset that generates returns, the value will continue to increase.
The value of NFTs is also determined by who owns or creates the NFT.
Stopping at the value of the owner or creator to gauge its future value can be taxing. The value of the NFT held by a celebrity can be directly related to the evolution of that person’s popularity.
However, the value of an NFT will remain quite high if it has been held by a celebrity in the past.
Some NFTs are also known for their tangibility, as they are directly linked to real-world objects, which adds to their value. They are also known for their practicality, as tangible NFTs are more reliable for short-term transactions in the market. With tangibility, increased utility, and liquidity as advantages, it is easier to predict a strong future value of NFTs and determine the value of investing in them or not.
Rarity is another concept that can determine the value of future NFTs. Certain NFTs are more distinctive than others, contributing to their rarity. Some have unique characteristics and qualities that set them apart, which can potentially drive up their price. Our SUSNFTs, for example, are unique because they are created with a specific purpose and intended for a green community. Plus, they cannot be bought but earned through acts of good.
3. NFTs as an investment
As with any investment, you should use your best judgment to determine the value of the NFT art you are buying.
NFT is a new type of digital asset whose market characteristics will likely continue to develop over time.
One example is that the popularity of the artist before the drop is the prime driver of value. If you have heard the artist’s name, others may have also heard it and also want to own a piece of digital art created by that artist. This increases the value of your asset in the form of NFT.
Another reason why NFT is worth investing in is because of the security of its blockchain!
When talking about NFTs, the issue of security always comes up. NFTs have gained adherents precisely because they claim to be immutable and fraud-proof. And, unlike a wallet, you can own it without relying on a single centralized party to maintain its existence and security.
Start putting your wallet to work and earn as much NFT as you can!
4. Earn your own NFTs
In addition to buying NFTs on the various marketplaces out there, Sus. live has some pretty amazing news to share! You can align your sustainability goals with your interest in NFTs, without even spending a dime!
$SUST is a new blockchain-based token that cannot be purchased and can only be earned by performing positive acts which are aligned with Sustainable living.
Each token is freely transferable and recorded on the Stellar Public blockchain and will be redeemable against Stellar Lumens (XLM)
With Sustoken.io, you will be able to create your free wallet (mobile app coming soon), receive your unique Public and Private key plus, send and receive tokens and NFTs to your friends.
Not only can you join the NFT game, but with us, you can join the NFT game most sustainably. Don’t miss the drop!