One of the biggest auction houses in the world, Sotheby’s is best known for its NFT auctions. The company has worked closely with top artists in order to create NFTs. One of their most notable sales was a $68 million digital piece sold by Beeple (an anonymous digital artist). NFTs are unique because they exist in tokenized assets that can be secured with blockchain. This has made them very popular among art buyers.
NFTs 2021 is the Year of NFTs
It can now be called THE YEAR OF NFTs as 2021 draws to a close. Numerous stars have created their own NFTs and sold them to their fans. Some believe NFTs are a passing fad that will quickly fade.
Many people mistakenly believe that NFTs cannot be used for creating digital art. This is false. NFTs could open up new revenue streams that can lead to innovative digital products. Diverse industries are exploring the possibility of using NFTs as tokens for assets like music albums and iconic moments. There are several uses for NFTs currently in existence:
Mode
With limited collection, luxury brands such as Gucci, Dolce and Gabbana and Dolce & Gabbana are now entering the NFT market. While NFTs can help protect the owner of fashionable items and make it easy to verify their authenticity, they are also useful in ensuring that fashion is authentic. NFTs are a great way to stop counterfeiting.
Patents
NFTs can also be used to secure intellectual rights and patents. The legal protections provided by tokenized certificates help ensure the document’s authenticity while also allowing for transparency.
Musik
NFTs are used in the music industry to prove ownership and allow for authentic music. NFTs make it easy to track royalties and the process of monetization.
Real Estate
NFTs can also be useful in the real-estate world where they provide proof of ownership. They also provide transparency regarding the ownership transfer.
Collectibles
These NFTs can be used to secure the purchase and ownership of exclusive digital collectibles. They provide absolute assurance of provenance through the use of blockchain security.
Gaming and The Metaverse
NFTs find a lot of use in online gaming, metaverse and other areas. NFTs allow players to have absolute ownership over in-game objects that they can then sell on secondary market.
NFTs and digital fashion
A huge part of digital fashion has been possible because NFTs. Space Runners, a company that specializes in digital fashion, is a great example. Space Runners collaborates with top celebrities and sporting icons like Nick Young to make NFT collections accessible to all. These exciting partnerships will be displayed in Space Runners’ first collection; NBA Champions Sneaker Collection
This unique clothing item can now be bought by Solana users. Space Runners will launch digital collections that users can keep forever in December.
In the future, Space Runners plans to launch a VR environment, where holders of Space Runners’ digital fashion can interact with their apparel. This will increase both the social reach and value of NFTs.
Space Runners users can browse through digital fashion on their mobile phones or desktops, rather than visiting Barcelona’s catwalks. The platform will launch a marketplace that allows people to trade NFTs of their clothing with other users in the near future. In the metaverse, they plan to launch unique apparel people can wear as skins. Meta, in response to Space Runners tweets about this idea has shown interest!
Holders of ‘Runners’ will also get special privileges, such as special access to merchandise pre-sales by the sports stars. You will be able to interact with sports stars after the game.
Space Runners couldn’t achieve its goals without its partners. They include Ankr Clover Finance Divergence Ventures Bullet Labs and Ankr.
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