NFT Art
Why NFTs Are Creating So Many Millionaires
Scarcity Is Driving NFT Prices Sky High
The incredible tales of people becoming overnight millionaires by investing in NFT art are everywhere online.
Since these digital assets derive their value from their unique attributes, many celebrities, entrepreneurs, and investors will happily pay millions of dollars for a static JPEG image.
The process of creating an NFT is known as minting. After minting, a person may choose to keep or sell the artwork in the secondary market. Many NFTs only cost a few hundred dollars to produce if you can get in early enough.
A small price to pay for a massive return on investment.
What Gives NFTs Their Mind-Blowing Value?
As a cultural phenomenon, there’s no doubt NFTs are disrupting art and finance markets.
Museums even display NFT artwork in their galleries because these non-fungible tokens are so unique and valuable.
Bored Ape Yacht Club — the world’s most notable NFT brand — minted for cheap. But now you’ll be lucky to snag a Bored Ape for less than $300K on OpenSea.
The highest anyone paid for a primate-inspired NFT is $3.6 million. Ethereum’s…
