In a world that is moving toward digitization, the popularity of NFT art is just the beginning of how these assets might completely redefine exclusivity and ownership across sectors. If you are still hesitant, it is ideal for you to join in, as NFTs will undoubtedly play a role in redefining the idea of digital ownership.
However, if you are already part of the NFT space, you should concentrate more on keeping an eye out for emerging trends to expand your expertise and generate income. To help achieve this goal, we have invited NFT expert Jurgen Cautreels to share insight into possible NFT trends to look forward to.
Is NFT taking the place of crypto in the digital space?
NFTs and crypto are different digital assets that have taken the world by storm. It is common knowledge that crypto is the digital answer to currency and decentralized transactions.
Now, NFTs are being promoted as the digital substitute for collectibles and other expensive works of art.
In reality, NFTs and crypto coexist side by side, and one is not a replacement for the other. They also share a relationship since the payment mechanism for buying and selling NFTs is crypto.
What new trends in the digital space can NFT owners cash in on?
NFTs are currently gaining popularity among art enthusiasts. Therefore, if you are a digital artist who creates your own NFTs, there is a high probability that passionate art collectors will be prepared to pay a huge sum for it.
NFTs have also trended in the real estate space as a form of payment method for actual property. In this regard, an NFT owner can serve as an intermediary between a buyer and seller who plans to use the digital asset to carry out their transaction, charging a high fee for their services.
What typical errors do NFT owners make while embracing new trends?
Most NFT owners are often too ecstatic to blindly follow every new trend that emerges in the digital sphere. Although some of these trends may prove to be a way to generate extra revenue, a sizable portion of them are also unprofitable and could cause the NFT owner to incur unexpected losses.
Some people also make the error of making large investments in these emerging movements. The drawback is that if those in the NFT space do not embrace the trend, it can be challenging to recover the money invested.
Will NFT scams increase as a result of the new trends?
The likelihood of cyber threats to the NFT market has also grown due to NFT’s popularity. It follows that new trends would logically result in an increase in scams and other fraudulent operations to deceive naïve people.
Because of this, I support the idea that NFT owners and fans should exercise caution while transacting on NFT exchanges. Put in place several security measures as well to help you avoid being a victim of such schemes.
Where can NFT owners source information about new trends?
There are several internet resources where NFT owners can source all the information they need about new trends. Some of these resource hub spots are credible web media platforms like Decrypt – NFT Revolution, Larva Labs, and Artblocks.
Information from the web media platforms can be merged with more ideas from NFT podcasts like Nifty Show, The Defiant, and Modern Finance. The social media profiles of prominent NFT specialists in the online sphere are another potential source NFT owners can explore.
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