NFTs and the NFT artworks have been the hot potatoes in town in the recent past. We’ve all been shocked with anxiety attacks on NFTs and the price they get sold consistently. From social media, press to chit-chats with friends, NFTs has been a subject that cannot be missed to mention. Now, NASA, the aeronautics and space research agency of the U.S. government, has made it to the headline, not with an announcement of identifying a UFO or regarding a project to send man back to the moon but by launching its own NFT.
Wondering what has NASA to do with NFTs? Yes, exactly NASA is supposed to be doing some space research, right? But things have changed, and this news is almost a shock to most of us. So, what exactly happened was Richard Danne, the logo creator of NASA, created an NFT artwork and enlisted it in Rarible, an NFT marketplace. There were two artworks in total. Anyone who purchases this NFT can redeem a limited edition of a Space Watch designed by Richard Danne-the Father of the NASA Design Program, in collaboration with Anicorn Watches.
Now, NASA has released an NFT, but what is there to go crazy about it? If this is a question that is lingering in your mind, then there is a lot you should know about NFTs in the first place.
What Is An NFT?
An NFT, the abbreviation of a non-fungible token, is a crypto token that is unique, indestructible, and immutable running on an Ethereum blockchain. Every NFT is a unique one with a unique representation ID. It cannot be duplicated in any case, and also comes with the immutable security of the blockchain technology. These traits and the sense of ownership of a unique object has made it this big.
What Is An NFT Marketplace?
An NFT marketplace is a digital space where digital artists can mint their artworks into NFTs and enlist them for sale. Any NFT art collector who is impressed with the work tries to get their hands on it by paying the artist the price they demand. Once they purchase it, the ownership of the particular piece is transferred from the artist to the collector.
Although the artist is encrypted as the creator of the piece, which makes them accessible to royalty every time the artwork is sold from one person to another. This is a basic module of an NFT marketplace. There are different NFT marketplaces where virtual lands are being bought and sold, virtual kitties, virtual cards, and the list goes on. Some of the renowned NFT marketplaces are,
Recent NFT Artworks That Made It Big In The Auctions
Beeple is a digital artist whose actual name goes by Mike Winkelmann sold an NFT artwork of his for a whopping price of $69 million a few days ago. While you keep wondering about this news, there is another that could give you a shock, so brace yourselves. The first tweet made by Twitter CEO, Jack Dorsey “just setting up my twttr”, was sold for a price of $2.9 million dollars. Yeah, just a tweet minted into an NFT made $2.9 million dollars. Now, NASA has set foot in this snowballing market with its NFT artwork, and that is the reason for all the buzz around it. In fact, the NFT by NASA has been sold for $41,000 in Rarible.
The NFT artwork markets, NFTs, NFT marketplace are all on a surge and are going to have a huge share in the market. If you are an entrepreneur who is already in the crypto market or keenly observing this space for some time, now is the best time to kickstart your entrepreneurial dreams and develop an NFT marketplace or any kind of NFT development ventures. The investors are dumping money on this duck that lays the golden egg. Starting now with a defined strategy attracting investments and customers can be a cakewalk. Make hay while the sun shines, so give us a call and let’s start developing your NFT marketplace.