Why NFT is booming ?
NFT represents a non-fungible token and it is a unique type of token. Non-fungible tokens are thus not mutually interchangeable. In contrast to other cryptocurrencies, and many network or utility tokens that are fungible, NFT has its own identity.
NFTs can be unique digital items such as collectibles or artworks or game items. As an artist, by tokenizing your work you both ensure that it is unique and brand it as your work. The actual ownership is blockchain-managed.
NFT has a short history, but it’s booming rapidly. Back in 2016, there was a Rare Pepe Directory Project, which is tokenizing Pepe frog image NFT.
In 2017, CrpytoKitties was a huge fever. Cryptofunks collected NFT items of CryptoKitties and sometimes beacuse of this NFT trading, fee of transaction on Ethereum blockchain soared up irrationally.
What we believe is that NFT is a tradable intellectual property on the Ethereum blockchain and NFTbase is a marketplace for trading and creation of NFTs. Why do we focus on making a reliable marketplace ?
Because the NFT market is booming rapidly since 2016. Please check Matty’s comment to figure out how fastly the NFT market was growing up.
As time goes by, people are getting more interested in NFT, understanding its value. A recent survey done by Dove Wallet said that 44% of crypto investors don’t know what NFT is.
In short, trading volume and market size is increasing rapidly, but less than half of crypto investors understand what NFT is. What would happen if a lot of people are getting aware of the value of NFT and start to invest or try to own valuable NFTs ?
Let’s see what Jeff Bezos, the founder of global IT company, Amazon, said about the internet landscape in 1994 when he had an interview with CNBC.
“I found this fact on a website that the web was growing at 2,300 percent per year,”
In my opinion, the NFT market is something like the internet industry in 1994. What do you think about this idea ?
You can find us here :)
Official Website: https://nftbase.ai
Official Telegram group: https://t.me/nftbase
Github : https://github.com/nftbase