The title above already proves that nothing can fall under the category of NFT as media content. Of course, NFTs contain digital media content, but some are more appropriate for digital art pieces worth keeping than others. The news of how Jack Dorsey sold the first-ever tweet for $2.9 million got many people’s tongue waggling. Therefore, the general public rose in response and started selling NFT like a priceless piece of art.
What are the NFTs, and why are they significant in the digital world?
Digital media is usually easily replicated and transferred from one end to another indiscriminately. However, what a work it will be to produce the Mona Lisa with all the brushstrokes and the original paper! Therefore, the NFTs are a digital piece of art that is impossible to replicate and reproduce or simultaneously own by two people. The properties on an NFT model cannot be copied or replaced.
It is possible to copy the media itself from a social media platform if it is a media file copied. But the buyer or owner still retains the ownership of the NFT. The NFT bore the original of all the sources and carried a unique code to that effect. It is no longer as simple as copying online from a page or downloading from a crack store and installing it at home. Let us now consider the main point of the matter. What are the types of NFT that we have?
The 9 Different Types of NFT
Suppose not all media items and files qualify as NFT media content or asset. What can fit into the equation? In other words, what are the crucial qualities or types of content that can be NFT? The following file types and formats are the common ones that are also sensible to be added to the marketplace for a good value.
1. Video Games and related items
A vast frontier for using the NFT platform is to sell video games and their associated contents. And most of the early adopters of this new method have been gaming companies who saw the great benefits embedded in the process. Right now, many companies are selling their entire games as NFTs. Even more, some game upgrades are being moved to the platform to make it more entertaining and rewarding to their game players.
On the other hand, other companies prefer to only sell their in-game resources such as content, tracks, skins, characters, and other relevant items. Moreover, millions of assets can sell for vast sums of money to players in a unique and exclusive format to just one buyer. While developers can sell regular DLC, they may sell limited versions as NFT models.
The artwork is perhaps one of the simplest forms of media that qualify for the NFT model. Moreover, it is the most popular one. While it is a fantastic opportunity for artists to sell their best works through digital platforms, they can also get great value and appreciation. The digital space can also provide the same reality as the physical space can.
A typical example is the most valuable NFT work of art by Beeple called EVERYDAY’S: THE FIRST 5000 DAYS. This work of art sold for a whopping $69 million, leading to several other very costly NFTs. These feats are not limited to just the picture arts because they can also work for video art. Short videos and GIFs can sell for that much for their uniqueness. learn more about EVERDAY’S by clicking here
As for music artists, the demand is always high. So, if any artist can create a stunning work with a uniqueness that can sell for a good value, why not place it on NFT? Music release has existed in the fungible class for several decades and is distributed as they were. Such releases still come in labeled CDs, cassettes, records, and, more recently, digital forms. learn how to earn $100 per day by only playing NFT Game at http://3daysgrace.org/nft-games-log-in-to-play-and-earn-100-per-day/
However, DJs and musicians have been selling their significant works on NFTs to earn more and secure their uniqueness. After several cuts and contract deductions, the music artist only gets a small fraction of the money that eh music generates. But with the NFTs, musicians can picket up to 100% of the cash generated from their work.
4. Big Sports moments
While we discuss selling baseball cards as trading cards, we can also sell other sports items on the virtual NFT platforms. But then, this title refers to not just objects but also memorable sports moments. For instance, you can trade a short clip of a significant moment in a club’s history or groundbreaking slam-dunks or remarkable touchdowns. Even a 10-second clip can sell for as much as $200,000
5. Trading cards and collectibles
Another acceptable digital file on the NFT Game platform is the digital trading cards. For example, buyers can trade limited editions of baseball cards that sell for thousands of dollars on the NFT market. Moreover, people can easily buy or sell virtual versions of these items the same way you can sell the real thing.
And it may be surprising that these virtual cards can sell for as much as a million dollars in the NFT market. Apart from the basic baseball cards as trading cards, companies can also sell many other collectibles on the NFT market. As long as the collectible is unique and worth what anyone can spend hugely on, then it can be put on the NFT market.
While we have mentioned some essential types of digital media that can work for NFT sales or deals, the others may also include
- Virtual Fashion
- Domain names
- The Growth of the NFT Market
In all these dynamics, the NFT market is still growing from buying different items to marketing the listed items so that those who want them can find them. Meanwhile, a buyer or seller must learn how this platform works to make a good profit.