Why NFTs Have Become Such A Popular Asset

Why NFTs Have Become Such A Popular Asset

Troy Warren for CNT #NFT #Crypto

Non-fungible tokens or NFTs have become one of the biggest assets in the world as of late. They have taken the world by storm and their popularity has been at an all-time high since 2021. Let’s discuss the reasons why NFTs are such a popular asset nowadays.

When you look at social media, it is rare to not see a post about NFTs. They are such a big asset that people are flooding their social media feeds with posts about NFTs and some people are perplexed about it.

Many people are drawn to the idea of owning NFTs because they want to own a digital asset. They can be owned by purchasing them through cryptocurrency and ownership will be gained through that purchase. This NFT can come in different forms as it can be audio or video files, video game items, and of course, art.

This can even appear on NFT-based games like Axie Infinity and NFT Paradise Trippies. These two games contain accessible NFTs rooted in gameplay. If you are looking for games that you can play with NFTs are the centrepiece, these two games are a good recommendation.

NFTs are perfect for collectors

NFTs are often compared to physical collectables like trading cards and action figures. They are similar in the sense that every NFT has its own unique attributes and features. NFTs are one of the best assets to collect right now because they have solid value when you decide to sell them as well. Even if you are not planning to do so, having them as a collection is fun because there is proof that you’re doing well with your NFT portfolio.

You can collect them based on the design and the technical feats that were achieved when making them. There are numerous possibilities with NFTs and collecting them should be encouraged further.

Owning an NFT is easy to manage

When people invest in gold, they will have to buy a bar or even a coin that represents the investment. In the crypto market, there are even more possibilities for people to purchase their chosen asset. NFTs represent much more than just art pieces because they can come in different forms.

It helps that they are easy to manage because you just need to have a crypto wallet. There, you can manage and store your digital assets ranging from cryptocurrencies to NFTs. You will also have exclusive ownership of your asset. Crypto will take over most industries and having ownership of your assets will be much better as the market keeps growing.

At the end of the day, you will be the one who will make decisions when it comes to your NFTs. You should look at the potential price of these NFTs as well because owning these assets also involves you looking for a chance to sell them in the future.

Brands have integrated NFTs into their marketing

Major brands all over the world have seen the potential of NFTs. It ranges from products like Mac Cosmetics to artists like Steve Aoki collaborating with brands to release NFTs. It is an amazing opportunity for brands to do this because they have the potential to release awesome NFTs with their marketing power. Some are even using NFTs to help with charities which shows the solid potential that these assets have with NFTs.

It has even breached the sports world which has become one of the top industries that have embraced the crypto world. The NBA, in particular, has NBA Top Shot which is one of the biggest NFT systems in the world. It is about video clips of NBA plays that sell for quite a lot, especially when a star player is involved or the play is breathtaking.

You will see bigger brands like Pepsi and even Louis Vuitton dive into NFTs more. Redpoint Ventures investor Lydia Hylton believes that brands are using these NFTs as a way to connect with customers even more. She said, ‘Exclusive brands like Louis Vuitton thrive on scarcity and are exploring LV-branded NFTs for the metaverse. Brands are also constantly looking for ways to increase engagement with customers [1].

The NFT industry will continue to grow and the brands will help with that. Hopefully, more people can see that NFTs are not only innovative but they help the crypto industry grow. You have games like NFT Paradise Trippies which you can see as a top asset since you can earn the NFTs. Web 3.0 will continue to grow and hopefully, more people will realise that NFTs are much more than the hype because the value is a pretty solid asset in the long term.

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By Troy Warren

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