If you are wondering why NFTS are so valuable, this article is for you.
What is NFT ?
NFTs, or non-fungible tokens, are leading the way in the world of technology. While they have been confined to the circles of technical experts, NFTs are expanding their boundaries, giving celebrities a chance to get into it.
According to several reports, Bollywood actress Sunny Leone would soon launch NFTs on her website. “Crypto-currencies are the future of the world and NFTs give me the opportunity to express myself through art and make each NFT a unique token, which is very exciting,” Sunny Leone said.
NFTs, also known as non-fungible tokens, are a type of digital asset such as art, music, video games, etc. They are bought and sold digitally, in exchange for cryptocurrency. They are bought and sold digitally, in exchange for cryptocurrencies. For example: When an NFT is sold, the creator receives a certain amount of commission in return in the form of crypto-currencies.
However, unlike crypto-currencies, NFTs are mutually interchangeable, i.e. they are not “fungible”. Jack Dorsey, co-founder of Twitter, sold his first tweet as an NFT for over $2.9 million. Digital assets are traded online on exchanges that allow NFTs to be traded with crypto-currencies.
Furthermore, crypto-currencies like bitcoin are all equal, however, NFTs carry a different asset and value. NFTs have been around since 2014 but are gaining a lot of traction now.
How to invest in NFTs?
If you are thinking of investing in NFTS through INR currency, directly, it would be impossible. The buyer will have to convert the INR currency to WRX crypto in the digital wallet before investing in NFTS.
Why have NFTs become popular?
Before Leone declared his intention to join the club, Amitabh Bachchan had floated a similar idea. According to reports, Big B’s plan is all set to be unveiled in November.
The Jism 2 actor, Leone has partnered with Mintdropz, a Silicon Valley-based start-up, to create a website for NFTs. On the site, it states that “The Sunny Leone NFT Metaverse is a collection of NFTs – unique digital collectibles, which will live on the Ethereum Blockchain. Your Sunny Leone NFT is your pass to exclusive content, benefits and access to the Sunny Leone Metaverse.”
Sunny Leone has thus become the “first Bollywood celebrity” to acquire her own NFT.
Why Should I Invest in Non-Fungible Tokens?
NFTs have proven to be a profitable form of investment for the following reasons:
Creating value for the tokenised asset: NFTs create a means by which physical objects such as works of art can be tokenised, thus eliminating duplication of these works and limiting ownership to the artist. This creates scarcity for the artwork and therefore value for it.
Investors benefit from greater liquidity: Tokenisation of assets gives investors more liquidity over their assets when they need it. For example, the owner of a virtual land decides to rent his virtual space to advertisers or influencers for a fee, while retaining ownership of the land. In this case, the virtual land still belongs to the owner, but part of it is liquefied as rent.
Growth and development potential: NFTs have the potential to grow and develop the land sector. Combining NFTs with land parcels has shown great potential for growth and development. For example, in real estate, owning and controlling virtual land gives you the power to decide what you want to do with your land. You can decide to rent it out, create a strong and secure business for advertising or selling online.
Ready for Diabolo NFTs ?
Sources: ovr.ai / outlookindia.com