NFTs are enabling monetization of digital assets and giving creators several options to capitalize on its popularity.
Non-fungible tokens, popularly known as NFTs, were most talked about in 2021. In fact, it went ahead, leaving behind the popularity of Dogecoin, blockchain and even Ethereum in online searches. But still there’s no clarity whether NFTs are just over-hyped fad or a technology that will take over in the future. Industry experts like Dollar who goes by his online identity @knownasdollar has mixed opinions on this subject. According to him the less weaker projects will lose the game, but projects which are fundamentally strong will last longer.
The concept of NFTs work well with human needs of ownership and authenticity and Dollar believes that the NFT space offers great opportunities where people can make profits if done rightly. The most trending topic in 2021 has been Metaverse real estate as it recorded over billion dollar sales within a month after Facebook announced to enter the space. Speaking on this subject Dollar says, “We are at an early stage of Metaverse adoption and the future might see Metaverse land price to move higher.”
The Sandbox, which is one of the leading decentralized metaverse projects, has already seen a steep rise of more than 1,200 per cent ever since Facebook announced its Meta plans. He also strongly believes that the EdTech space is also rapidly making its way into the world of NFTs. While all educational certificates come in printed form there’s always a challenge of verifying it. According to this industry expert educational institutions can offer certificates in the form of NFTs. This would prove the ownership of the certification and create a robust foundation around the education space.
NFTs are also transforming art, music, sports, enabling monetization of digital assets and giving digital creators several options to monetize their artwork which is a big step ahead. NFTs are undoubtedly in their nascent stage but will be here for sure and make a big impact in the future, believes Dollar who gives his opinions and shares his knowledge about the sphere on his Twitter: @knownasdollar.