Am I still confused?
Today, in fact, you can buy and sell memes and make lucrative profits. According to recent market reports, the world famous “Doge” NFT meme sold for $4 million. Another example that highlights the amount of money one can make on such trades is the “Overjoined Bride,” which was purchased for $411,000 at Ethereal.
These numbers sound exciting. Before we get into how you can start making money with these, let’s understand the meaning of NFTs.
Non-expendable token o NFT is a non-exchangeable unit of data stored on a blockchain, a digital ledger. It adds uniqueness, verifiability, and credibility to any form of digital art, thereby safeguarding the creator’s work and stopping the rampant duplication that occurred before. Once you turn a meme into an NFT, you can easily trade your ownership with other interested parties and, in the process, increase your profits.
The question that arises now is: how to create an NFT meme?
If you’ve developed a meme, turning it into an NFT is a hassle-free process. There are a plethora of websites, apps, and startups that provide a platform for digital creators, whereby they can convert their files in a few simple steps. In most cases, you start by selecting a file, then create an Ethereum wallet and add a sum to it. The wallet allows you to join an NFT marketplace, where you can list, promote and sell your NFT.
Once you have your meme ready, the whole process goes smoothly.
Why start investing and trading in NFT? The world is rapidly changing to digital media. In an era driven by technology-based solutions, NFTs are not just a bubble. Traditionally, it was a matter of minutes and your digital work could be copied. The authenticity of a creator’s work was in danger. Backed by blockchain, NFTs have made the creation of digital assets a secure enterprise. Artists have a greater scope to be recognized and paid for their work. This has given a lot of talented people the opportunity to freely showcase their work, without worrying about duplication.
Is it crucial to buy an NFT? While you can sell and buy NFTs, there is also the option to rent them. A potential creator or investor can transfer or gain ownership of digital assets for a fixed period in exchange for a regular payment. Today, NFTs are gaining popularity all over the world. In the coming days, more and more people will enter this sphere. The best part? You don’t have to be an artist or creator to start trading nft memes. If you have a keen interest in memes? You can register on a market and simply trade these assets.