How Starverse can fit in the marketplace war for NFTs
NFT (Non-fungible tokens) are still relatively new to the crypto space, but have become so popular that they seem to have been around for years. That isn’t true though, it was not until a few years ago that the first set of NFTs was introduced.
Beyond the ability to customize digital content as one desires, creatively and weirdly, what caught the crowd was the huge amount mentioned alongside NFT. And as knowledge about profitability has spread, more people now see it as being beyond an online sticker to an actual digital means of making a profit. NFT continues you gain mainstream adoption daily in the industry.
Therefore, let us examine what NFT stands for and its potential in the industry.
What is NFT?
NFT refers to a non-fungible token. It was created by science-driven, risk-taking tech-savvy developers, but has grown to incorporate leading industry firms like Coca-Cola, the NBA, etc. NFT simply means the selling and buying of rare digital content through a public blockchain system.
It also involves the process of minting these digital contents by the creators, the availability of the token, and the owning and purchasing of these contents by individuals on various NFT platforms. NFT provides a means for companies and individuals to express their identity and craft digitally and sell in a rare market.
What makes NFT so profitable is that it thrives in the scarcity effect of the real world. The scarcity of goods or resources increases the price or value of such resources, which is why gold and precious gem have a high value. In the digital space, the NFT marketplace replicates the scarcity nature in the real world to the digital space such that buyers purchase rare digital content for their value.
Potential for Growth
The NFT marketplace is still a growing field in the crypto space. Yes, various NFT platforms have been created, still, there are vacant spaces that need to be filled with new ideas. With over $10 billion in Q3 of 2021, the NFT marketplace is no longer regarded as a space for nerds to share digital content. If top artists and beans are getting on board, then, surely there is something good happening.
In an increasingly decentralized world, geared by a public and effective Blockchain system, NFTs gave huge growth potential. If 3LAU, a musician can make about $11.6 million for tokenizing his album and selling it as NFT. Then, there’s potential in it. If NBA’s Top Shot NFT project can generate over $700 million in transaction volume in a short period. Then, with the right project, NFT can make both buyers and sellers crazily rich.
NFT’s potential goes beyond money and gaining profit. But it provides an alternative means of promoting craft, advertising, and engaging the public. It is a broad space, incorporating almost all fields such as sports, entertainment, finance, business, and much more. NFT has huge potential in this industry.
How Does StarVerse come in?
Starverse comes in as an NFT marketplace that promotes the sale of educative digital content. It is an education-based NFT marketplace aimed at promoting the minting and sale of NFTs relating to charm bracelets and amulets, trading education and Fengshui education, etc.
Thus, Starverse is an augmented NFT marketplace, which a specific niche, this being geomancy, amulets, charm bracelets and the likes. It allows minting of these NFTs in the platform and its purchase as well. An example of NFTs on Starverse is “Golden Harvest Rainbow Obsidian Prosperity Bracelet”, which is said to promote confidence, abundance, drive, and balanced emotions.
Conclusion
In summary, NFT brings new potential to the crypto space and StarVerse aligns with this potential using its rare and unique geomancy NFTs. The digital contents on Starverse focus on the link between humans and the forces that exist in nature.
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