NFT is an abbreviation for “non-fungible token”. If, for one reason or another, there is a loss, for example, of one bitcoin coin (by the way, BTC are just fungible), then this will not have any significant impact on the network. Gradually, miners will generate new coins that will enter circulation and begin to circulate on the market.
The behavior of investors, many of whom know firsthand about the huge profitability of investments in certain crypto assets, is quite natural. The desire to stand out, to show off something unique and inimitable in front of your crypto-enthusiasts friends creates a demand for rare non-fungible NFT tokens, which can already be classified as a new class of virtual assets.
Recently, a hype NFT happened. New NFT projects and marketplaces are increasingly appearing, which are gaining more and more popularity. The appearance of ZKBox on the market in partnership with ZKSwap will be the most grandiose event of recent times. Usually, the realization of unique “things” takes place through an auction. ZKBox will become one of the first and most popular layer2 marketplaces for Eth, using extensive experience in the field of DeFi.
The development of the NFT-economy in the following spheres of social and labor activity of a person seems to be the most expedient today:
Gaming. Players are willing to pay to be able to play a unique NFT character dressed in exclusive “clothes” and possessing a unique “weapon”. A promising direction in the development of NFT gaming is the ability to use objects or a character in various game environments outside of the game “sandbox” where this character or object was created.
Not so long ago, a new version of the game, PUBG: New State, was released in the “universe” of the most popular PUBG. As it turned out, the account and all the players’ items will not be available for use in the new version of the game. Just imagine how happy the multi-million community would be, having the opportunity to transfer their loot to the New State.
Collectibles. There are enough exclusive items in the “analog” world - offline. If a person wants to sell at auction a collectible bottle of wine, designer tableware, exclusive clothes created by a famous fashion designer, or any other “piece goods” - NFT tokens will perfectly cope with this task: the issuer can include information about the item being sold in the description of his token, available for viewing in the block browser.
The Hermitage sold a painting by Leonardo da Vinci in the form of an NFT for 150.5 thousand dollars.
Show business. Fans and fans are the daily bread for YouTube “stars”, streamers and ticktockers. The opportunity to chat with your idol live or even face-to-face is an ideal growth environment for NFT. Despite the fact that these actions can be carried out without issuing their own NFT tokens by “star”, they can become a kind of digital autograph with a limited offer. A fan will always be able to prove that he really discussed the launch of a rocket to Mars with Elon Musk or communicated with Pavel Durov by voice.
Snoop Dogg has released an NFT collection called Journey with Dogg.
Digital art. Picasso and Rembrandt would probably have sighed sadly if they had learned about the development of digital technologies, which led to the fact that artists now paint paintings not on canvases, and the masterpieces themselves are created not with a brush, but with the help of special design programs. The demand for digital paintings is growing every year. Occult themes and images of animals are especially popular. For example, a pixel monkey in a cap in January 2021 was sold for 140 ETH (150 thousand dollars. at the time of purchase). As the buyer himself admits, in this way he wanted to emphasize his status in the digital world. The same thing mentioned above - there is a clear analogy with membership in an elite club.
Beeple - Goin Home
I believe that there are several significant barriers in the field of NFT that hinder its development. Many people who could create their own tokens often do not understand the work of these technologies. Also, authors often have concerns that their tokens will not be in demand and the time to create them will be wasted. I want to invite the ZKSwap team to organize a fund to support NFT authors. As part of the selection of the submitted works, the team will select the top 100 and reward them, as well as provide the opportunity to mint the first 50 tokens for free. This approach will allow you not to be afraid that the created tokens will not receive any attention and will not bring profit.
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