How to Leverage NFTs as a Creator or Collector?
Learn how you can leverage the rising popularity of NFTs.
2021 is the year we have seen a rapid rise in the popularity of NFTs. Following the historical Christie’s auction on Mar 11 which saw Beeple’s “EVERYDAYS: THE FIRST 5000 DAYS” sold for an eye-popping $69.3 million, more and more brands and artists alike are joining the trend to release their own NFTs. Let us look at how we can leverage the power of NFTs.
For brands, platforms, artists, and content creators of some sort, NFTs open up a whole new avenue for which they can sell their works. Artists can easily turn their masterpiece be it a picture, song, gif, etc., into a NFT which will have several benefits. Firstly, people can easily verify the authenticity of the NFT in the marketplace as the blockchain which they are created on provides an immutable and transparent record of the ownership. This deters counterfeits and copycats, which preserves the value of the NFT. Secondly, now it is possible to program royalties into the NFT such that every time it is resold a percentage of the sale goes back to the creator as a royalty. Therefore, if their NFT appreciates in value or changes hands on the secondary market, creators will also benefit.
On the other side of the coin, buyers can stand to gain from the appreciation in value of the NFTs. NFTs are inherently scarce, usually they are unique or only a small finite number of copies are minted in the collection. For big brands and reputable artists with huge followings, this means that the demand far exceeds the supply. This probably leads to a price appreciation in the secondary markets after the launch. Of course, all this is speculation with a risk of financial loss as well.
Another way of thinking of it is giving support to the creator whom you believe in. He/she might not be well known now, but in the future if they realize the potential you saw in them, you will also be able to benefit from their success.
Speculations aside, there is a whole other range of utilities of a NFT an owner can leverage on. Some platforms use it as a form of membership, as well as giving tiered discounts or bonuses on the platform for NFT holders. Other platforms use NFT as a deed to an ownership of digital land in which users have free choice on what to use the digital land for. Another upcoming area is the use of NFT in-games, traditionally in-game assets belong to the company and are hard to transfer. With in-game assets minted as NFTs, such as weapons, armors, equipment, etc., owners can utilize NFTs in game as well as cross over to another game if the ecosystem allows. In the event an owner does not want to continue playing the game he would be able to easily trade or sell it in the marketplace, getting some value for the time and/or money he spent in the game.
Leverage NFTs with Mars Panda
The NFT market looks to continue growing and more innovative utilities and use cases will emerge. One will have to take a closer look at the unique utilities each has to offer, to determine if it is worthwhile investment. But definitely there will be ample opportunities available for both creators and collectors to leverage NFTs using the Mars Panda NFT Marketplace and take part in this exciting space. Mars Panda NFT Marketplace offers a simple and easy way to navigate the world of NFT. With the vast payment options available, people new to cryptocurrency will still have access by simply using fiat for the transactions. Aside from being user-friendly, Mars Panda is Headquartered in Singapore, and while trying to best comply to Singapore Regulations, has commissioned an entity that has obtained a regulatory exemption under the Payment Services Act (“PSA”) for digital payments token services, Legatus Global Pte Ltd to be issuing the Mars Panda Token (MPT) as well as doing the KYC/AML during the private sales and distribution of tokens to private investors.
Why wait, come join us now in this brave new world of the future.
You can sign up to join Mars Panda NFT Marketplace here: https://www.marspanda.world/form
About Mars Panda
Mars Panda is a complete eco-system which consists of:
• Games, Social Media and Ecommerce Aggregation
• Yield farming DeFi
• Mars Panda game with NFT game elements
• NFT Marketplace
We aim to fuse mainstream eCommerce and Gaming to the crypto world of NFTs and DeFi, on one seamless, unified platform.
Find us at:
Legatus Global Pte Ltd is an entity that has obtained a regulatory exemption under the Payment Services Act (“PSA”) for digital payments token services. Legatus Global is commissioned to handle the issuance of Mars Panda Token (MPT) as well as the KYC/AML during the private sales and distribution of tokens to private investors. Legatus Global is also handling the process for private sales and distribution.