Long Neckies, Weird Whales And Book Games
Millennials and Gen Z’ers are starting to invest in art, but it is not the kind of art that you would see displayed in an art gallery. Instead, they invest in digital art for the blockchain, also known as NFTs or Non-Fungible Tokens.
If you don’t know what an NFT is, it is the latest craze to hit the cryptocurrency world and is starting to take the digital art world by storm.
It has become such a craze recently that twelve to thirteen-year-olds have become overnight millionaires by creating these digital art pieces and selling them online on digital art marketplaces like Rarible, OpenSea, and SuperRare.
These millennials and Gen Z’ers are trading in CryptoKitties, CryptoPunks, and on the Bored Ape Yacht Club NFTs.
The digital artworks may have weird and funny-sounding names, but they’ve been selling at ridiculously high price tags. In October of 2021, the most expensive NFT was sold by Beeple for a price of $69 million.
In December of 2021, “Pak,” a Digital Artist, sold one of his digital art pieces known as “The Merge” for a price tag of $91.8 million.
What is even more astounding is that this one art piece was fractionalized and distributed among 28,983 different traders who received 312,686 individual pieces of the NFT. This kind of fractionalization of artwork is unheard of in the art world and is only possible now due to the mechanics of the blockchain.
Long Neckies And Weird Whales
Twelve-year-old Nyala Hayes is already a multi-millionaire from making her digital art and selling them as NFTs. She’s already made over $5.7 million in Ethereum from producing her NFTs and selling them online.
The idea for Nyala’s NFTs came from her love of brontosaurus dinosaurs and being a female, she thought of combining the long neck of the brontosaurus with images of women.
Her NFTs titled; “Long Neckies” represent diversity, and she says that it is meant to make people feel comfortable in their skin and make young girls feel powerful with themselves.
Another twelve-year-old boy from London has earned nearly £290,000 selling his Weird Whales NFTs.
Benyamin Ahmed is storing all of his earnings in his Ethereum digital wallet. His inspiration for his NFTs came from a popular pixelated whale meme. He also used his program to create 3,350 sets of his pixelated Whales.
A Non-fungible Token or NFT, as it is commonly known, is a type of digital asset which is used to represent common everyday objects like in-game items, music, art, and videos. NFTs are bought and sold on an online marketplace using cryptocurrencies.
An NFT is created or “minted” from a digital asset representing both a physical and non-physical item, including Art, Collectibles, Music, Videos, Sporting Highlights, In-game Skins, Virtual Avatars, and GIFs.
Instead of having a physical art piece or painting hanging on your wall, a buyer of an NFT will receive a digital file of the artwork.
NFTs are like physical collectible items; the only difference now is that it is encoded onto a digital blockchain. The owner of an NFT gets sole rights to the digital asset, which makes an NFT unique and rare.
NFTs are gaining momentum and popularity since they’ve become an easy way to trade digital art. As of 2021, the NFT market was valued at an incredible $41 billion since it started in 2017.
Gary Vee And Book Games NFT
The world-renowned entrepreneur, speaker, and author Gary Vaynerchuk have set a new benchmark for marketing his latest book, “Twelve and a half.” In August of 2021, he did a pre-launch for his book, which would be released in November 2021.
His book uncovers the thirteen emotional skills, like patience, kindness, and empathy necessary for navigating through life, business, and achieving success.
But what was unique about his book pre-sale was that he utilized the power of NFTs in a very innovative and creative way. Gary “Vee” promised his NFT “Book Games” to anyone that purchased his book, in all twelve sets, within 24 hours.
Each of Gary Vees NFT Airdrops represents one of the thirteen emotional skills.
Always true to his word, Gary Vee released his “Book Games NFT,” fulfilling his promise to everyone who purchased his book.
The book became a massive bestseller on Amazon within twenty-four hours of its pre-launch globally. Over a million copies of the book were sold before its release!
How To Get Into NFTs As An Investor
If you consider getting into the NFT digital art craze, you do not need to be an artist or a meme creator. All you require is a digital wallet and some cryptocurrency like Ethereum or Solana.
Cryptocurrencies can be purchased from a Cryptocurrency trading platform like Binance, Coinbase, Kraken, and Luno. You can buy and sell NFTs on the open NFT markets like OpenSea, Rarible, and SuperRare.
A few other NFT marketplaces accept other cryptocurrencies, but Ethereum and Solana are probably the most commonly known ones.
You must be prepared to pay for some hefty gas fees, though, as it costs you in Ether to trade these NFTs on the Ethereum blockchain. Gas Fees are the transaction fees you will have to pay for creating your NFT on the Ethereum Blockchain.
How Do I Find The Best NFTs To Buy?
With all the hype surrounding NFTs finding the right NFT to buy can be a little intimidating at first. It is always good advice to do your research before jumping head-first into buying your first NFT.
The online site rarity.tools contain a massive collection of all the NFTs currently available on all the NFT marketplaces.
The NFTs are sorted by Highest Floor Price and Rarity Ranking. If you know the name of an NFT collection, you can search for it by name, and you will get a list of all NFTs within that collection, along with its Price, Volume, and Rarity Ranking.
When you’ve found an NFT on rarity.tools, clicking the NFT will give you details on where you can buy the NFT and its selling price.
If you do not know the name of an NFT collection, then simply selecting All Collections will give you the top NFTs ranked by volume and price in Ethereum.
You can browse through all of the NFT collections here, choose the highest rarity rank for the lowest floor price and check whether it is available on OpenSea.
You should check out rarity.tools daily to see the best values and the latest emerging NFT collections.
The NFT craze has undoubtedly started to take the crypto and art world by storm, and it is not showing signs of changing or slowing down any time soon. The NFT market has been valued at over $40bn since it began in 2017.
So, if you are looking to get into the NFT hype, now is the time to hop onto the NFT train and ride it out for as long as it goes.