Recently, interest in NFTs has been overgrowing. Many celebrities or just crypto enthusiasts are on the hunt for unusual novelties, and famous artists create new digital works of art. Today we want to discuss the NFT collection, what they are, and why it has become a natural phenomenon in the art world.
A few words about NFTs
NFT is an acronym that stands for Non-Fungible Token. What does it mean? You don’t see any difference when you exchange one bitcoin for another. They have the same performance. But in the case of NFTs, the difference can be huge. When you exchange Leonardo da Vinci’s Mona Lisa for Van Gogh’s Sunflowers, you realize there is a considerable difference between the two paintings. The same goes for NFTs. Their meaning is that you get a unique product.
What is the NFT collection? Artists in this direction create not one image but a whole series of paintings united by one idea. At the same time, each print in this collection will be unique.
Why do people buy NFTs?
Twitter founder Jack Dorsey sold his first tweet for $2.9 million in NFTs, and artist Mike Winkelmann received a record $69 million for his NFT painting. Why are people willing to pay so much for such works of art?
When the new NFT collection comes out, people start a real hunt for them and try to get them for any amount. For example, rapper Eminem bought NFT Bored Ape Yacht Club for $450,000 to put it on his Twitter profile picture.
There are several reasons why people buy NFTs; some of the most important are:
- Use in social networks or games;
- Collecting;
- Buying to sell them at a better price in the future.
Today it is possible to use NFT in social networks or computer games. It allows you to show your exclusivity and interest in the development of the crypto industry.
Collecting is one of the most popular hobbies in the world. Someone collects stamps or coins, collects vintage cars, and manages NFTs.
When you buy an NFT from a very famous token collection, you can sell it for a considerable amount of money in the future. If you have a business sense and are up to date with current trends, you can turn this into a great way to earn extra money.
Why do artists create NFTs?
In the modern world, traditional arts are fading into the background. Think about the last time you bought a painting by a street artist. When decorating the interior, we increasingly use photographs or other design solutions. If an artist is good at drawing, it is much easier for him to sell his art as an NFT collection, as there is a considerable demand for them today.
In addition, through NFT collections, artists can draw attention to specific social topics or raise money for new projects.
What do you need to buy non-fungible tokens?
It will be easy if you have often heard about NFTs and want to purchase such digital art. First, you need to create a crypto wallet. The most common is Metamask, which can be downloaded from the extension store and used directly in the browser, which is very convenient. You can put here the necessary amount of Ethereum (usually, this cryptocurrency is used to buy NFTs).
Next, crypto enthusiasts need to select the NFT marketplace. Among the most popular today are opensea.io and rarible.org. A large number of artists present their work here. Moreover, a considerable number of NFT collections here is both an advantage and a disadvantage since choosing something worthwhile becomes challenging.
In addition, there are various startups today, for example, Planetex, which create their own Token & NFT ICO. There is an opportunity to purchase NFTs at the lowest price with the prospect of their further growth when releasing new products, which will create hype and demand. Cooperation with the startups is beneficial for those who consider NFT not just as a collecting tool but also as a valuable asset that can bring good profit in the future. At the same time, the cost of such tokens is meager.
The hardest part about buying an NFT is choosing the right project because you need to consider the image quality and other indicators, including whether you can profit from it. In the case of token.planetex.io, you can consider the purchase of tokens as an investment, which means you can count on additional income in the future.
How to make the NFT collection successful?
Today there are many NFT collections worldwide, and not all of them have become successful. So, you want your product to be as enjoyable as possible for potential customers. In that case, you should carefully study the market and highlight those niches that still need to be occupied, explore customer demand and choose the direction in which you will work.
It would be best if you also focused on creating a community in social networks and promoting your project. This process takes quite a lot of time, so it’s worth starting at the first stages of development. If you have an unusual and very promising idea, token.planetex.io specialists will help you bring it to life and make your project as successful as possible.
