One of the biggest factors contributing to the widespread popularity and adoption of blockchain technology, without a doubt, has been NFTs. NFTs are non-fungible tokens that are registered on a blockchain network and assigned to a real-world asset which can be physical or digital. As NFTs integrate real-world assets with the cryptocurrency ecosystem, it has helped tremendously in boosting the use of cryptocurrencies.
Any person, artist, celebrity, businessman, etc., can create an NFT and sell them on an NFT marketplace, making it easier for people to interact with the crypto space. Moreover, NFTs are digital assets in themselves as other tokens and hold a tremendous value that fluctuates according to market trends and other reasons.
The user-friendliness, the tremendous value, and the interactive nature of NFTs have helped the NFT industry to blow up in the last couple of years. Last year, one of the highlights of the NFT industry was the auction of a piece of digital art by the artist Beeple for $69 million. The craze for NFTs only grew stronger from then with several famous celebrities such as Eminem, Paris Hilton, Amitabh Bachan, etc. joining the trend and launching their NFTs.
However, as the digital space has seen several times, experts and enthusiasts are wondering if this craze will last for a long time and if NFTs are just designed for digital images. The short answer is NFTs have far exceeded the avenue of digital images and now have utility beyond imagination.
The Value of NFTs
To understand the sustainable future of NFTs, it is first important to understand what makes NFTs valuable. As briefly discussed earlier, NFTs are digital assets that tokenize real-world assets. However, the definition of “assets” is scalable and includes a wide range of physical and metaphysical assets.
Now NFTs are being integrated with physical assets, digital art collections, music albums, and collectibles. However, apart from the art and sports industry, NFTs are also being utilized to create new utilities such as registering user identity on the blockchain as NFTs for easy access. NFTs are also being used as membership cards that provide the holder access to several benefits and privileges from the native project.
The value of NFTs is not just determined by their price, as they now have real-world applications extending beyond investment opportunities. NFTs either have use cases that prompt investors to invest, or they help the holders in becoming a part of something bigger.
One of the projects that have shown exciting utility and use cases for NFTs is Goku. Such projects have built their roadmap and utility around the boom that NFTs have seen recently, in order to facilitate people’s interest in the invention and allow people to easily interact with and enjoy everything that NFTs provide.
Goku is an anime-crypto project created to build a safe and secure community for anime and manga lovers. It is the first of its kind anime token with multiple partnerships and an inbuilt deflationary mechanism. Moreover, the project’s roadmap includes an NFT marketplace for artists to directly interact with their fans and promote the buying, selling, and trading of NFTs.
Goku will also be releasing its own NFTs with a limited supply that will be made available to the users through Rarible. These NFTs are unique and hold tremendous value that will increase as the project grows in popularity. By launching the NFT collection, Goku is preparing for the upcoming launch of its NFT marketplace that enables anime and manga lovers to trade anime NFTs while becoming a part of a large community of like-minded individuals.
Projects like Goku have adopted the love people have for NFTs and are creating platforms for users to securely interact with them. The development of such platforms happening so quickly is a bullish sign for NFTs as more and more people buy into them and integrate them into their daily lives and passions.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.