NFTs or Non-fungible tokens! An attractive world with special features that have a special audience. There are lots of discussions today about the world of NFTs and their performance. Blockchain-based NFTs and their profitability have led some people to quit their jobs and enter the world of NFTs. If you are not familiar with NFTs to date and you want to get acquainted with this new world and its function, we will examine these topics below. We will also introduce an example of people who have left their jobs because of NFTs, and we will discuss the reasons for this.
What’s an NFT?
Non-fungible token, as its name implies, is called a crypto asset, which is not changeable and is special. For example, imagine an artwork with only one copy, and whoever owns it is the original owner. This work of art is unique and has a special value and it can be traded with cryptocurrencies. You can exchange NFTs with other cryptocurrencies such as ETH and these transfers will be recorded in the blockchain. As a result, it will be clear who owns this NFT. You can convert anything digital to NFT. You can convert anything creative that you think is valuable into NFT. For example, NFTs include digital images, artwork, popular tweets, popular social media posts, etc.
What are NFTs used for?
By buying NFTs from other people and investing in them, you become the real owner. NFTs prove who the real owner is and according to their value, they can be bought and sold. You may also buy an NFT suite at a cheaper price, sell it to someone else at a higher price, and transfer ownership of that NFT to someone else. You should also note which coins are accepted as payment to buy NFTs and which network is used. By knowing this information, you can learn more about transactions and fees.
If you are looking for a place to buy and sell NFTs, you need to choose a suitable marketplace. List of some of these marketplaces:
But what causes people to quit their jobs to buy and sell NFTs?
With all the features mentioned about NFTs and their valuable collections, one can imagine a very bright future for NFTs. These features enable people to buy and sell valuable NFTs and collections. Imagine an NFT Collector bought an NFT artwork for $1,000 last month and now wants to sell it for $100,000. These NFT Collectors can make a good profit from the market by buying and selling NFTs and sometimes even because of very high profits, some of them leave their jobs. One of the best examples is DappPunk. DappPunk, as an NFT Collector, has quit his job for NFTs.
Why do people care about NFTs?
Imagine someone paying $100,000 for a digital work of art while it can be created for less than $50 by a graphic designer. But a collector prefers to buy the original at a very high price and be the real owner. As a result, people care about NFTs because there is only one copy and there is an original version and a real owner that values NFTs.
What Is the Future of NFTs?
It is difficult to guess the future of NFTs and there is an almost unknown future waiting for NFTs. But one thing is for sure, and that is that NFTs will not go away any time soon and maybe a bright future awaits the NFTs and maybe NFTs become an important part of our world.
Advantages and Disadvantages
- Completely unique
- Supporting artists
- Support for the Arts
- Blockchain technology
- It is possible to increase the value of NFTs over time
- There is a possibility of loss (you may not be able to sell your NFTs)
- NFTs aren’t fungible
NFTs can create a different future for us and given all the features and benefits mentioned above, we can have a better understanding of NFT Collectors and certainly, the field is still a work in progress. Therefore people who have quit their jobs for NFTs can show the importance of non-fungible tokens in our world. You can also learn more about NFT Games (here). If you are also interested in the NFT world, be sure to refer to the NFT Games section.