$11.8M for an Alien CryptoPunk auctioned off by none other than Sotheby’s, the gatekeepers of fine art comes as a surprise to all those who prematurely rang the death knell of the NFT revolution after Beeple’s iconic $69M sale of “Everyday—The First 5000 days”.
NFTs can no longer be dismissed as a comet that burns bright and fades into oblivion but rather an asteroid heralding the extinction of the artistic monopoly held by too-big-to-fail billion-dollar corporations.
NFTs allow people to buy & sell ownership of unique digital items. They can contain anything digital, including drawings, tweets, animated GIFs, songs, or even video games.
The tendency to spend more of our lives in virtual worlds has accelerated our adoption of NFTs. Metaverses like Roblox have stores where you buy designer Gucci bags that, at times, cost more than its physical version.
That said, NFTs are starting to inch their way into traditional markets such as:
- Property & vehicles (your NFT can be a key).
- Video games & virtual worlds (skins, items, pets).
- Even the legal world of lawyers, notaries, & lawmakers.
Oh, and by the way… You can also get married on the blockchain. In the first (but definitely not the last) incident, two Coinbase employees exchanged NFTs as virtual rings via their smartphones during their wedding ceremony.
There’s even a game-changing social app being built that allows you to NFT every 60s video you create. You own the content and its rights. You have complete control over how much to sell it for. You choose who to license the rights to.
Imagine TikTok with every piece of content tokenized, and you could own your favorite creator’s media—it’s called Glimpse.
Glimpse is currently featuring the first redeemable NFT in Times Square, ever—on a 10,000 square-foot billboard…
If you scan/redeem one for yourself, make sure to enter their raffle giving away $1,000 worth of $GLMS & an NFT from their founding team.
This all goes to show that the utilization of NFTs is limited by one’s creativity. As the platforms you use every day adopt them, you’ll likely wind up owning dozens if not hundreds of NFTs.