How to Make Your Own NFTs

NFTs or as they are called in their actual name “Non-Fungible Tokens” comprise unique and distinct features and attributes. It has its very own financial market whose worth is now exceeding more than US$ 50 Billion. It took less than 36 months at least for the NFT market’s economy to become an industry worth more than US$ 50 Billion. This significant growth showcases how rapidly and phenomenally this market evolved.

NFTs & Their Links With Blockchain & Cryptocurrencies

By default NFTs is part of an industry which is primarily or perhaps directly linked with blockchain and cryptocurrencies. With regard to crypto however, there is strong bond between crypto and NFTs because digital currencies are actually the economies acceptable in NFT industry. This is so because the three of them i.e. NFTs, blockchain and cryptocurrencies, all represent digital objects and financial activities.

Initial Purpose of NFTs Launch

NFTs were introduced for the purposes of giving equal opportunity to every person in the world to own collectible items, goods as well as unique objects. There were no boundaries at all as to which particular place these collectibles, goods and objects were to come. But there was a new industry waiting for an idea to introduce it in the financial world. The idea came in the shape of NFTs which was actively propagated and pushed to its limits by the developers to an extent that today the industry has evolved completely. While in the initial days the intention was to give every person the right to own collectibles at cheaper prices, yet the greed of huge revenues prevailed. Greed then overcome the equality and the project simply became a new way of investment and revenue generation source.

Mega NFT sales In 2021

The year 2021 was undoubtedly the best year in terms of the growth of NFT industry. When the market capitalization of NFTs was recorded at the end of 2021, it had already tripled since 2020 and exceeded US$ 25 Billion. In this year, although only a couple of months have been passed, already the NFT economy has crossed the market cap of US$ 50 Billion. This means that in less than 5 months, the industry has more than doubled the market capital since 2021. This shows how huge this industry is and how benefitting and profitable it would be in the future. Considering the profitability, the year 2021, also has other reasons for it to be named as the best year for NFT. In the same year, there were several NFTs which individually generated funds involving multi-million dollars. According to Ido Fishman, you can easily find 15 most expensive NFTs sold in 2021. However, with the purpose of giving you a brief of 2021’s sales, the highest sale value of an NFT was more than 62 Million Dollars. It was some achievement and in fact assures the investors’ confidence that NFT industry is not going anywhere and in fact it will continue grow without a fail. In addition, the industry gives additional guarantee that even if the prices of cryptocurrencies are falling, yet NFT popularity has remain unchanged. Most importantly the industry remained unaffected by the crypto economy’s massive reduction which came in November 2021.

How One Can Launch An NFT Project?

According to Ido Fishman, considering starting of several other things, forming an NFT is a lot easier. Anything could be comprised in an NFT and value can be attached if the object is worth something. However, you would need to hire a developer and an auctioneer. While the developer will ensure that the NFT is formed in accordance with your mind, designs and wishes. On the other hand, the auctioneer will complete the formalities of sale and how the sale should be proceeded with.

Future of NFTs

So far NFT industry is overcrowded with all sorts of people i.e. investors, buyers and sellers. However, in terms of issuance of NFTs, the industry is overwhelmingly crowded by organizations and investors. What is happening therefore is the majority of NFTs are owned by established brands, organizations and individual celebrities. Resultantly, a common man is feeling this sense of being left out. Ido Fishman would therefore encourage you to explore this industry which is for everyone. For better understanding of the industry you can read the blog posts on NFTs at Ido Fishman’s website.