NFTs, or Non-Fungible Tokens, have made significant noise in the crypto world. The non-fungibility means that the token that you acquire using blockchain technology is unique. Hence, it is not interchangeable in its essence and this unique entity is adopted as a unit of artwork, music, video game, etc. which is traded across the blockchain network.
As many argue, the concept of NFTs can get a little complicated but this is mostly due to the high-end technological developments that are constantly happening in the fintech industry with NFTs. Here are a few notable developments that have turned NFT into a brilliant and well-rounded investment opportunity.
Developments in the NFT World
Several cryptocurrencies allow investors to exchange tokens for NFTs which has enhanced the availability of NFTs in the fintech world. The most famous of such tokens is Ethereum (ETH) but there are several others such as Decentraland (MANA), Sandbox (SAND), Axie Infinity (AXS) etc.
In a piece of interesting news, Starbucks stated that it will expand its NFT community on an “environmentally sustainable” web3 platform, which would be more in line with its current sustainability objectives. The organisation claims, “We plan to start with our first NFT collection, membership and community later this year, based on coffee art and storytelling. It will come with a host of unique experiences and benefits, worthy of a genesis NFT collection from Starbucks.”
Some attempts have been made to connect NFTs to real-world items, usually as a way of verification. Nike has created a patented method, called CryptoKicks, which will use the NFT system to validate the authenticity of sneakers.
NFT has also taken the centre stage in crypto chatter. Elon Musk’s tweet on May 4, 2022, had a subtle indication of the speculation that exists about NFTs. The tweet created a ripple of conversations in the comments section which has furthered the popularity of NFTs altogether.
Why Invest in NFTs?
NFTs are designed to give you ownership of a unique artwork or project. This is the assimilation of art collection with technology which aims to make art more accessible to the general public. Art connoisseurs may argue that NFTs are eliminating the element of elitism that has corrupted the world of art collection over the centuries.
One of the most obvious advantages of purchasing NFTs is that it allows you to financially encourage the artists you like. When you buy an NFT, you additionally get some basic usage rights, such as the ability to publish the image online or make it your profile photo.
Moreover, NFTs can also be held and sold later on for a higher value. Hence, other than being a creative acquisition, NFTs are also a brilliant financial investment. NFTs are being regarded as the future of fine art collection and it is always advised to participate in a cultural revolution!
Firepin (FRPN) Aims to Revolutionise the NFT Marketplace
Firepin (FRPN) is a fresh entry into the crypto market which is making news due to all the groundbreaking features it is promising. Firepin is a DAO that offers more than just the NFT Marketplace.
Members of the Firepin Metaverse will be able to subdivide their Firepin NFT into child NFTs that will represent a newly developed NFT generation. Investors may then establish a flexible and efficient market to exchange children NFTs using Firepin’s Proactive Market Maker (PMM) algorithm. Using Firepin’s SmartTrade and liquidity aggregation services, they can be switched with any wrapped tokens inside the same issued network at the cheapest price.
Firepin is currently in its second presale phase which means that the FRPN tokens are available at a discounted price. This could be the best and most affordable time to get involved with the NFT cultural revolution that is being facilitated by the fintech world!
Learn more about Firepin (FRPN):
Join Presale: https://presale.firepin.io/register