NFTs, aka, non-fungible tokens, are the biggest craze of recent to hit the digital marketplace. With gigs and royalty streams for musicians at an all-time low, could NFTs give the industry the financial pump it sorely needs?
NFTs. From Nyan Cat to Grimes, it seems creatives and entrepreneurs of all calibres are cashing in on the fascinating trend. We know that NFT’s can generate insane purchases, such as 5 Andy Warhol pieces selling for over $3 million, or Nas selling royalty ownerships for his track Ultra Black. Exciting possibilities indeed, but let’s jump back to reality for a minute. The large majority of us aren’t rich and famous, or at least, Andy Warhol-level rich and famous. So, the real question we should be asking is, can ground-level artists actually make money from NFTs?
Truthfully, it’s a difficult question, with no easy answer. But that doesn’t mean we can’t take a holistic look at the existing NFT market to learn what’s working, and what isn’t. Whether you’re an indie artist looking to generate more income, or you’re researching NFTs as an investment option, here are some potential advantages and disadvantages of the digital phenomena.
Read the full article via We Are Happy Media.