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HomeLatest News3 Ways to Make Money with Non-Fungible Tokens (NFTs)

3 Ways to Make Money with Non-Fungible Tokens (NFTs)

The most popular trend in the crypto community today is undoubtedly non-fungible tokens. Everyone from celebrities to reputed companies is talking about starting their own NFT. But not all NXTs are created equal: although some are worth luck, some are practically worthless. In the current NXT gold rush we will see some attractive ways for individuals and companies to make money.
1. Digital works of art

When it comes to sheer profitability, private NXT is one of the most important non-fun tokens created by artwork.

On March 11, the history of blockchain technology and the history of art changed forever. Christie, one of the most popular auction houses in the world, sold an NXT artwork for $ 69 million. This is the first time Christie has auctioned a complete digital artwork.

Produced by Mike Winkelman, a digital artist known as People, titled “Daily: The First 5000 Days”. NXT is not a work of art, but a collection of 5000 tokens created by people every day over the years.

While some have already raised concerns that selling links to a picture for millions of dollars may be a front for money laundering, others believe that NXT is a real revolution in the art world.

The record price set by the People’s NXT will soon be surpassed. After all, people were, until recently, a completely unknown actor. If someone like Banky decides to bid on the NXT artwork, the price will be $ 69 million.

Related: What is NXT? Inside the next billion dollar crypto scam
2. License Collection

Token collection appears to be the most natural and obvious application of non-fungible token technology. Brands that already sell physical collections such as business cards can now sell the same item in digital form. Since NXT has proved to be very low, the price of a digital business card may be higher than the price of its default number.

Right now, game cards are the most popular NXT licensed collection. The first NXT sports card program allowed people to trade licensed football players, but recently also introduced NBA NFD card collections. Other sports companies will soon follow suit, and collectors will also be able to purchase baseball or hockey NXT cards.

But the sports card is an example of how NXT can be used. Anything physically collected can turn into a non-fungal token. While physical trading cards are easily destroyed, NXT can be safely stored in the blockchain and quality cannot be lost.

Related: Are You Ready for the Role of NFD in the Crypto Economy?
3. NXT Video Games

NXT-based video games could be the future of NXT technology. So far, no games using non-fungible tokens have been successful in gaining widespread popularity, but the possibilities of using NXT for video games seem very high.

Players are known to spend money on virtual items. World of Warcraft Gold, Call of Duty Loot Boxes or Counter-Strike Skin – all markets are worth billions. If any major video game company decides to sell sporting goods such as NXT, the impact of such a decision will have a huge impact on both gaming and the blockchain ecosystem.

It should also be noted that NXT video game developers are one of the most ambitious creators of non-fungible tokens, and the items in NXT games will advance the development of non-fungible technology.

In-game NXT is much more advanced than simple digital business cards, or virtual artwork such as interactive NXT. Non-fungal tokens used in video games are more complex, fully interactive, and can change over time, for example, by upgrading or matching the player character.

The available tokens are more than just another fast-passing crypto course. NXT technology has many unique applications and is beginning to explore the full potential of NXT.

It seems that NXT’s gold rush is beginning as many individuals and businesses have decided to enter the non-fungal token ecosystem. The most popular NXT simple still images show that the market is still very important – the real explosion of NXT’s popularity should not begin until complex non-fungal tokens discover the full potential of new technologies.

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