The cryptocurrency market is constantly evolving and is always providing new ways to make money for everyone. NFTs are one of those ways.
Although they have been around for several years, the boom in NFTs started recently and is continuing right now.
In this article we are going to reveal some tips and tricks on how to earn on NFT– whether you plan to create NFT, resell them or collect .
NFT Market: What is going on there?
According to The Block, NFT token turnover grew by an impressive 43,000% in 2021. The NFT market grew from $1 billion to a multibillion-dollar industry. NFTs became popular after a digital painting by artist Beeple and an NFT token tied to it sold for $69.3 million at a Christie’s auction.
After that, celebrities, sports clubs and artists began experimenting with NFT on all the NFT marketplaces. The wife of Donald Trump, Melania Trump, even launched her own NFT-marketplace, the NBA began issuing NFT tokens tied to videos of the best moments of players.
By the end of 2021, there were about 360,000 NFT owners worldwide who owned 2.7 million tokens. At the same time, the most expensive of them, about 80% of the total market, were concentrated in the hands of 32.4 thousand people (9% of the total number of owners).
The most famous NFT collector is known on Twitter as Pranksy, his initial investment in digital art was $600, and now his NFT portfolio is valued at $20 million.
Moreover, the NFT craze went beyond the crypto industry and attracted players from the traditional market. For example, auction house Sotheby’s reported that it made $100 million on NFT sales this year. Sotheby’s noted that 78% of NFT bidders were new to auctions, and more than half were under 40 years old.
Catching the trend, Sotheby’s also launched its own NFT marketplace called Sotheby’s Metaverse.
“The surge in NFT trading volumes in 2021 is related to the broad scope of adoption – tokens have become art objects, sports club cards and the basis for the play-to-earn model for virtual games. An important step to increase the volume of NFT trading was the development of technology and the emergence of new NFT marketplaces. NFT is a trend that is just at the beginning of its development. In 2022, it will gain new momentum”, – comments Slava Mikhalkin, Co-Founder of Liquidifty.
NFT Marketplaces – source of your unlimited income potential
There are special NFT platforms for selling irreplaceable tokens. You can upload digital content, create NFT, and put it up for sale. You can also buy a token and resell it. All NFT marketplaces offer these functions.
Among the NFT platforms there are centralized, decentralized, for free registration or by invitation, more oriented to art professionals and beginners. It’s up to you to choose the platform you want to use.
One of the recently new and promising NFT platforms is Liquidifty – marketplace on the BSC chain. This platform offers unique opportunities and incentive programs for creators – digital artists.
The highest ranking NFT collections on the platform include GameFi projects like Drunk Robots, and Cyber City, as well as the gaming guild Skill Guilds and the NFT launchpad Equinox.
This NFT marketplace is planning to launch a special, generative augmented reality NFT product — and establish a bridge for nonfungible tokens between BSC and other chains. Loans will also be offered that use these assets as collateral. Liquidifty aims to be the most user-friendly, cross-chain NFT marketplace for everyone, integrating Flow, Binance Chain, Polkadot and Ethereum.
The promising future of NFT
According to Non-fungible Token Global Market Report 2022 the global non-fungible token market is expected to grow from $14.02 billion in 2021 to $21.33 billion in 2022 at a compound annual growth rate (CAGR) of 52.1%. The market is expected to reach $82.43 billion in 2026 at a CAGR of 40.2%.
The NFT industry is rife with innovation. New use cases appear every day, expanding our imagination and possibilities.
Non-fungible tokens represent a new paradigm in how we digitize physical assets and how we interact with native digital technologies. As the world moves toward digital transformation, the need for technologies that can reliably authenticate digital assets will only grow.
NFTs fill that gap and have enormous potential to change the way we function as a society. And someday, NFT will become so firmly entrenched in our lives that we will simply stop noticing that we are constantly interacting with this technology. That time will come very soon!
Ready or not?
NFTs have created a large-scale trend in the crypto market: global music and movie industry celebrities, brand companies and auction houses began to invest in them.
Actively growing trend of the crypto market NFT only in 2021 increased its sales volume by 220 times ($ 22 billion), compared to 2020 ($ 100 million). And that value is only gaining momentum.
It is up to you to decide: invest in the promising NFT market or watch from the sidelines. NFT gives completely different options for everyone. For some it’s creativity and art, and for others – it’s a way to make a quick buck.