NFT examples are truly endless. However, perhaps one of the most notable of these is the ‘NBA Top Shot’. NBA Top Shot is a system where famous players of the league sell their legendary moments and matches as NFT. For example, an image of a LeBron James dunk recently sold for $208K. Of course, it is also possible to watch this video on Youtube without paying a penny. It’s just, like we said, the whole case for NFTs is that they come with a code that’s unique to you and it’s unique.
#Blockchain technology and #NFTs offer artists and creators a unique opportunity to monetize their wares. For example, artists no longer have to rely on galleries or auction houses to sell their art. Instead, the artist can sell it directly to the consumer as an NFT, allowing them to make more profit. In addition, artists can program in royalties so they receive a percentage of sales when their work is sold to a new owner. This is an attractive feature because artists often do not receive future revenues after their work is first sold.
Art isn’t the only way to make money with NFTs.
#Brands like Charmin and Taco Bell have auctioned off themed NFT art to raise money for charity. Charmin called his offer “NFTP” (unsustainable toilet paper) and Taco Bell’s NFT art sold out within minutes, with the highest bids coming in 1.5 coiled ether (WETH), which equates to $3,723.83 at the time of writing.
Nyan Cat, a 2011 roundup GIF of a cat with a pop-tart body, sold for an average of $600,000 in February. And NBA Top Shot had sales of more than $500 million at the end of March. A single LeBron James highlight NFT received more than $200,000.
Even celebrities like Snoop Dogg and Lindsay Lohan are jumping into the NFT majority, posting unique memorabilia, artwork, and understanding as securitized NFTs.
