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How much are NFTs worth

How much are NFTs worth

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How much are NFTs worth

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  1. How much are NFTs worth?

  2. Description • Since 2014 NFTs have been around but they gained popularity in 2021 when popular digital artist Mike Winkelmann sold his art Everyday: The First 5000 Days for $69 million. Suddenly everyone started taking interest and betting their luck on this new technology. NFTs are non-fungible tokens that cannot be exchanged or replaced. Each NFT has a unique identification code and each token is stored on metadata. 

  3. What makes it popular? • The best part is that NFTs are based on similar underlying software as that of cryptocurrency which is blockchain. Blockchain technology makes the transaction secure, transparent, and efficient. All transactions are recorded in the public ledger that everyone has access to. The peer-to-peer transaction eliminates the middleman thus making it secure from frauds and other scams.  

  4. Who uses NFTs? • Currently, artists, brands, and gamers are at the forefront who are minting the maximum number of NFTs. Many famous personalities are also trying their luck in NFTs and the prime example is Jack Dorsey, a CEO of Twitter who sold his first tweet for $2.9 million. Other celebrities like Snoop Dogg, Paris Hilton, Grimes, and Shawn Mendes have also launched their NFT projects. 

  5. How you can approach it? • If you are planning to buy NFT then this is the right time. Krazy Kong NFT collections portray the deep desire to experiment and explore human life. He is one of the modern apes who is trying to forget his tumultuous past and fit in the modern human society. One of the aims of Krazy Kong NFT project is to raise environmental and social issues like deforestation, animal rights, inequality, and conflict within and among humans and animals. 

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