How to create an NFT and Monetize it?

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Guidance on NFT Creation and Monetization Strategies!

NFTs are cryptographic tokens existing on a Blockchain that can be traded or sold. NFTs involve objects or assets such as music, artwork, trading cards, pictures, tweets, memes, online gaming, virtual real estate, etc. This concept came to light in 2014 with the first known NFT transaction: A video clip named Quantum, registered by McCoy on Namecoin Blockchain was sold at $ 4 during a live presentation at New York’s New Museum. However, this concept didn’t attract much public attention until 2017 when the digital gaming brand CryptoKitties successfully sold tradable cat NFTs as a monetization strategy. Gradually, with the rising popularity of cryptocurrency usage, the NFT market picked momentum and by the end of 2020, the NFT market value reached 100 million $. NFT became a buzzword around the globe ever since the most expensive NFT sale took place in March 2021: “First 5000 Days,” a crypto art by Beeple, was auctioned for 69.3 million USD. Here’s the example of another multimillion-dollar NFT transaction in 2021: “Bored Ape Yacht Club” raised 26.2 million USD by selling a collection of ten thousand NFTs in the form of cartoon primates that can be used by their owners as profile pictures on social media accounts. The year 2021 witnessed a booming NFT market with countless profitable transactions and the market value shot to 22 billion $. Several brands, individuals, and enterprises including Yahoo, Star Trek, NYSE, Walmart, Ticketmaster, Elvis Presley, and Panera have been trademarked for NFT. This post guides you on how to create an NFT and monetize it. So, if you too wish to trade your asset/s via NFT, this write-up is a must-read. Copyright © Biz4Solutions LLC. All Rights Reserved Biz4SolutionsLogoanddesignsaretrademarksofBiz4SolutionsLLC.Alltrademarksandlogos referencedhereinarethepropertiesoftheirrespectiveowners.


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