Microsoft founder Bill Gates said at an event organized by the Tech Crunch website on Wednesday (15th) that NFTs are “100% based on the ‘most stupid’ theory”, arguing that they are overrated and not worth paying for The price. However, some like me disagree with this market, which continues to grow despite some skepticism.
However, being an NFT enthusiast so much that I have launched my own collection, I believe this market is still relevant for reasons not just financial. When you buy an NFT, such as from Bored Ape Yatch Club, you not only buy art and/or share in cryptocurrency profits, but you also buy VIP passes to events, networking, and more. In this case, what is ultimately more valuable than the product itself is exclusivity and access.
While Bill Gates’ statement and declining sales in recent weeks have led some investors and parts of the media to view the non-fungible token industry as a blip, NFT sales continue to rise, according to the DuneAnalytics panel, the segment’s top five favorites Primary and secondary sales of products exceed $1 billion.
For example, sales of non-fungible tokens on the Ethereum network have increased by nearly 63% over the past 15 days. While some segments of the art and gaming market are experiencing significant declines (over 80% in some cases), collectibles such as Bored Ape Yacht Club, Mutant Ape Yacht Club, Azuki, CloneX, Doodles and Moonbirds are still on the rise. It is necessary to understand that while some NFT collectibles and market niches are declining, others are more valuable than ever, similar to what happens in the stock market, where some depreciate and others appreciate.
NFTs are the ultimate tool for community building and monetization within Metaverse. One way to use NFTs for community building in the Metaverse is to offer NFTs to the most loyal followers of the social network. On the other hand, those who own this NFT can join closed groups or participate in exclusive events. “
Snoop Dogg, Justin Bieber, Paris Hilton, Jimmy Fallon and many other celebrities are already in the virtual world and using their social networks and media exposure to promote their series or show off earned NFTs on TV shows and general media, for this This new technology and way of distributing content provides more and more hype. “Celebrities have seen that rather than creating an avatar in a virtual world (which costs a lot of money and is difficult to monetize), NFTs are easier to monetize and work on building communities and networks inside and outside the virtual world.
*Tulio Borgias is a digital influencer, speaker and content creator. Living in the Azores, in the Portuguese autonomous region, he has accumulated a wealth of experience in his career as a content creator. Nominated for MTV’s MIAW Awards and Meus Prêmios Nick as Digital Apocalypse, also responsible for Borgias Youtube Channel and Creators Podcast
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