It’s likely you’ve seen at least a few memes or posts about how ridiculous NFTs are, and you might have dismissed them as a joke. However, the NFT market has become a major part of the crypto industry and can even be used to generate passive income.
Art and images in general are the most well-known type of NFT. However, there are several other types of digital items you can turn into and sell as NFTs. Learn about them here.
Music NFTs are up there with art as one of the most popular types. Musicians usually only get a small portion of the money made from their music due to record label and streaming platform cuts. Selling their music as NFTs, however, allows them to keep almost all of the revenue.
Trading Cards and Other Collectibles
Some extremely rare baseball cards are famous for selling for thousands or even millions of dollars, and the same goes for trading card NFTs. Anything that can be deemed a unique collectible can be put on the market.
Video Game Items
Video game items consist of in-game content such as characters, skins, and collectibles. This type of NFT isn’t too common. However, there’s potential for it to drive in-game economies. Gamers could sell them outside of the game, and developers may be able to earn royalties from each sale.
Similar to trading cards, short videos of big, impactful sports moments can be sold for large amounts of money. Organizations are able to sell original recordings of moments from matches they host like what the NBA is doing with NBA Top Shot.
There are tons of memes making fun of NFTs and how you can right-click and “save-as” them. It’s ironic then that memes themselves have been sold as NFTs, netting their sellers tens of thousands of dollars.
Domain names are also being sold as NFTs, and this is actually great for buyers. The traditional way to get a domain name is to pay a third-party company to manage it. However, you can cut out the middleman by buying one directly from the NFT market.
Fashion is also being created and sold as NFTs for people to use with online avatars. This might seem strange, but it’s not actually too different from buying a skin for characters in games.
Real-world items can’t themselves be turned into or sold as NFTs. However, ownership of them can be. An NFT can serve as a deed for a car or home, and the blockchain technology behind them means they can’t be faked.
Similar to the previous type of NFT on this list, NFTs can serve as event tickets. Event managers can use a blockchain platform to mint their tickets. Customers are able to bring their tickets through their mobile devices. It’s paperless, can’t be faked, and can’t be lost unless.
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