What can be sold with NFT?
NFTs (Non-Fungible Tokens) are units of digital data kept on the blockchain. NFTs can be traded using cryptocurrencies such as Bitcoin and Ethereum. NFTs cannot be reproduced or duplicated. Each NFT is unique and has a digital signature that allows the owner to prove the ownership of that NFT. Recently, NFTs have taken the world by storm with so many digital assets being sold in the form of NFTs. It has been projected that NFT sales will hit $80 million by 2025. Although NFTs was originally launched on the Ethereum blockchain, other blockchain networks have started to support NFTs.
After hearing about NFTs, most people ask themselves:
What can be sold with NFT?
Technically speaking, anything digital can be sold as an NFT. There are many NFT marketplaces that you can use to tokenize your digital assets and sell them as NFTs. Examples of such NFT marketplaces include OpenSea, Rarible, Superare, and Foundation. Videos, music, pictures, memes, tweets, clothing, and furniture are good NFT examples as they can be sold as NFTs. You only have to choose an NFT marketplace of your choice and create an NFT from the digital version of the asset. You can then list it for sale on the NFT marketplace.
Is NFT a Bitcoin?
From the above discussion, you may ask yourself:
Is NFT a Bitcoin?
The answer is “no.”
However, NFTs and cryptocurrencies such as Bitcoin and Ethereum are closely related. For instance, you need cryptocurrency to buy an NFT. The two digital assets are both powered by blockchain technology. That is why cryptocurrency users are most likely to develop an interest in NFTs.
Bitcoin is a fungible asset. This means that you can exchange a Bitcoin for another Bitcoin without a loss or gain of value. This is not the case with NFTs as they are non-fungible assets. An NFT cannot be exchanged with another NFT for equivalence because each NFT is unique.
Thus, an NFT is not a Bitcoin and a Bitcoin cannot be used as one of the many NFT examples.
NFT Examples Sold
If you follow NFT news, you know that people have continued to pour money into NFTs. In this section, we will be discussing some of the famous NFT examples sold.
#1: The Merge
This is the most expensive NFT that has ever been sold. It is not a single NFT, but a series of NFTs. It was sold for an NFT price of $91.8 million in December last year.
The NFT was created by a re-known digital artist named Pak, whose works have generated over $350 million. The Merge was bought by 28,983 people who wanted to own the 312,000 shares, with each share corresponding to an NFT example sold. This NFT has made Pak the most famous and valuable living artist today.
#2: The First 5000 Days
If your question was:
What is a famous example of a Nonfungible token?
Beeple’s “Everydays: The First 5000 Days” is the answer. The NFT was a collage of 5000 pictures created one per day for over 13 years. The NFT was sold through an online auction at Christie’s in March last year and managed to fetch an NFT price of $69.3 million.
The NFT was bought by a Singapore-based cryptocurrency investor named Vignesh Sundaresan, who also founded the Metapurse NFT project.
The Clock NFT description example comes third in our list of the most famous NFT examples sold. What makes this NFT example unique is that it is a token dedicated to a social cause. The NFT was jointly created by Julian Assange, the Wikileaks founder, and Pak. It shows a digital counter of the days Assange spent in a London prison where he was awaiting extradition to the US over espionage charges.
The NFT was created to raise funds to finance Assange’s defense. The NFT was sold for an NFT price of $52.7 million to a decentralized organization named AssangeDAO with more than 10,000 Assange supporters.
#4: Human One
This is another famous NFT created by the popular artist Beeple. It was sold for an NFT price of $28.9 million at Christie’s auction in 2021.
The NFT is simply a kinetic video sculpture that corresponds to a dynamic NFT that Beeple described as the first human-born portrait in the Metaverse. The NFT represents an astronaut striding through a changing landscape. The NFT also comes with a smart contract that lets Beeple what is being displayed from a remote location. Thus, Human One is an “in progress” NFT that is worth the huge price.
The CryptoPunks have been some of the most popular tokens, selling at high prices from time to time. The project was launched by Larva Labs in 2017 and it was inspired by the cyberpunk movement, a London punk scene. CryptoPunk #5822 was sold for $23.7 million in February 2022. This can be attributed to the rarity of CryptoPunk.