Are NFT Marketplaces The New Crypto Exchanges?

An investment is like water which can assume multiple forms. It can turn into ice in extreme cold and could evaporate into gas when it is really hot. Turning ice into diamonds could be next to impossible. However, experienced investors are extremely savvy in terms of moving their assets from one form to another.

It is obvious that in the world of crypto that a token’s value can increase 100% in a week then form a rising wedge just to see a correction. Where did the profits go? Investors are just being the traders that they are — took profits and bought the dip of another coin.

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Is a virtual racehorse NFT a better investment than the real one?

But have you ever heard of investors shelling out their crypto gains to invest in Non-Fungible Tokens (NFTs)?

Non-Fungible Tokens Gaining Momentum

Recently, a number of NFT platforms have made substantial partnerships. Decentraland has recently sealed a deal with DeFi lending protocol MKR to make their MANA coins as a collateral on the MakerDAO ecosystem, not to mention collaborating with mobile giant Samsung to complement their VR platform features. CryptoKitties creator, Dapper Labs, has also recently secured $12 million from a handful of NBA players and Coinbase Ventures just after they launched NBA Top Shot.

Here at VHS, ZED is backed by esports platform Unikrn and Bittrex. As you know, Bittrex is one of the pioneer crypto exchanges in the world, and that means a lot to us in terms of bridging the gap between gamer and crypto investor.

Will NFTs trend more than K-Pop soon?!?

So while the Bitcoin halving in April didn’t exactly live up to expectations, a new breed of digital asset investments are gradually entering the crypto scene such as NFTs, DeFi staking pools, and dApps. The total sales of NFTs or “nifties” have reached $100 million in July 2020 which coincide with the DeFi market reaching $4 billion in secured value.

But are NFTs really seen as an investment nowadays?

Are Cryptos The Gateway for NFTs?

Cryptocurrencies are built with the idea of the valuation of digital assets. If there would be a total of 21 million bitcoins mined by 2022, it only means that all digital assets have value based on their supply. Hence, if it has value, then it’s an investment; and if it’s considered an asset then there should be a marketplace for it. Right?

Hold tight, NFTs are getting there!

On the other hand, Non-Fungible Tokens while being labeled as a “token” isn’t really a crypto coin. NFTs are digital representations of artworks, collectibles, virtual land estates, and in-game items. While NFTs are arguably riding on the mainstream success of Bitcoin and other cryptos, it’s clear that NFTs are becoming another digital asset class.

The next question would be: How can Non-Fungible Tokens achieve mainstream adoption?

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