A Guide to Choosing an NFT!(for Newcomers)

Many people were introduced to NFTs after Twitter CEO Jack Dorsey sold his first tweet for $2.9 million back in March. Since then, the world of NFTs has been rapidly expanding, providing us with the chance to own all sorts of digital assets. NFT technology is still in its infancy, and there will come a time when virtually everything digital can become one. The market is also one of the most creative, giving everyone the chance to make their own NFTs.

The possibilities are endless!

As for right now, there are a few different types of NFTs that rule the market.

Artwork

The most popular form of NFT at the moment is art, which has been a foundation for human creativity. In this new world, artists can now sell their works of art as digital assets. This is helping to not only establish a brand new community of impressive digital artists, but also recognize artists from other mediums too.

While much of the NFT art that makes it into the media is sold for incredible amounts of money, this is not the case for every single work. Anyone can own one of the many art NFTs, and this will be key to transferring that human creativity into the Metaverse.

Collectables

NFT collectables first became popularized with Cryptokitties in 2017. This was actually the first instance of NFT use, and in this case, they were digital kittens with unique traits. The community could collect, trade, and sell these digital collectables.

The market for NFT collectables has come a long way since Cryptokitties, and they now include a wide range of digital items, such as trading cards. Just like the physical world, these digital trading cards make up an entire market where collectors seek out the most rare and valuable ones.

Music

Music is another type of NFT that is promising many great opportunities for both creators and consumers. Music has evolved through many phases over the last few decades, going from records and cassettes to CDs and finally into digital streaming. It is now making the leap into the NFT world with artists selling their work as tokens.

If you know anything about record labels and streaming platforms, you know they have a history of taking advantage of artists. With NFTs, musicians can now keep, in many cases, 100% of the money.

Gaming

Was there any industry as prepared for the surge in NFTs as gaming? With developers already selling in-game content, skins, characters, and endless other items, gaming was perfectly positioned to implement NFTs. The major difference between these previous digital assets and NFTs is that an NFT will be exclusive to the buyer, rather than the same one being held by countless players. This makes the gaming experience incredibly unique and personalized to each one of us.

With that said, this in-game content doesn’t mean much when you stop playing the game. That’s where in-game asset ownership comes into play.

In an NFT game, you actually own specific items that can also exist outside the game. You can then transfer those items across platforms or sell them on the market for real-world money. The best part? These in-game assets have the potential to increase in value over time.

Memes

Memes — one of the greatest results of the internet. Memes have taken over our popular culture in every way, and most of us don’t go a day without seeing them. NFTs have the potential to take this to the next level, with the sale of memes as NFTs enabling an entire new world of meme creators. This will undoubtedly make the internet an even more interesting space.

The most valuable NFT meme to date? The Doge meme sold for $4 million to break every record in this space.

Words, Stories, Poetry

Human language is incredibly creative and complex, and it is evolving every day. There are over 7,000 human languages spread throughout the globe, and each word within each language is a unique little piece.

NFTs provide us with the chance to turn each one of these into a digital asset. You could own an NFT word for many different reasons, as they can be an investment, a piece of art, or something that holds personal meaning to you.

Besides owning a single word, you can own a collection in the form of stories or poetry. Literary NFTs are diversifying digital media and enabling writers all around the world to highlight their work.

With poetry steadily declining throughout society, NFTs could be the revitalizing factor that it desperately needs.

Conclusion

This is just the beginning. Whether you own NFTs in the form of artwork, collectables, music, gaming items, memes, or words, you are getting involved in the initial stages of an incredibly fast growing industry. NFTs are only going to expand in options and increase in value, especially as the Metaverse continues to become more integrated. NFTs are helping create a new kind of internet, one that provides us all with the opportunity to directly contribute and yield rewards.

Don’t miss out!

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