NFTs: Why the Future You Will Benefit from Buying Today!

The future is being redefined as we speak. Web3 is paving the way to realizing the true potential of the Metaverse. Technologies like Meta Quest and Apple Vision Pro are just the tip of the iceberg of what’s next to come. Take NFT games like Bloktopia and the Sandbox which are VR-supported social metaverses in which people can interact, earn, and play games. Such technologies are giving us a glimpse into the future, a small window but the picture is there to see if you look hard enough.

Facebook CEO Mark Zuckerberg changed his company name to Meta in 2021. Now he aims to create a Metaverse where people will socialize, work, own virtual property, and basically live a virtual life that is connected to the tangible world. Many question if this is at all possible. And the answer is yes! But the real question is who will do it first, will it be Zuckerberg or someone else?

The Metaverse, NFTs & Blockchain Link

Since the Metaverse will need a virtual economy to support itself, the blockchain is the only logical thing that can power it. Moreover, as people move into virtual spaces for work, socializing, and gaming you will require ownership certificates, which are NFTs. All these tasks will be executed through the blockchain. 

Benefits of Buying NFTs

We are likely to see more interoperability between different blockchains, it is more likely that it will be the standard. So NFTs brought from any blockchain are likely to be used in all blockchains. The digital art piece you buy today will be displayed on your virtual property (which is also an NFT). It is like when real estate was cheaper, and it gradually got more expensive as demand grew. Well, the same will happen to NFTs. If you buy the right NFTs today, you could be a millionaire in the future. However, not all NFTs will be profitable.

How Do I Monetize from NFTs?

Here is where you need to be aware of industry trends and demands. However, there are a few metrics that can help you make some profitable investments. 

Early Adoption

Early adopters are individuals who come before the hype. Hence, they can acquire NFTs at much cheaper prices. When the market begins to mature, the value of the NFT asset also increases, sometimes considerably. Take the example of Bored Apes and CryptoPunks. NFTs are also made in finite numbers, increasing their value over time. Owning a limited edition or rare NFTs can earn you big money in many cases.

Historically Significant NFT Investments

Do you know that baseball cards can often be valued at millions of dollars? Kind of like Mickey Mantle’s baseball card that is valued at 12.6 million dollars. It is because of rarity and historical significance. The same can be said for NFTs, however, the only difference is that most of the NFT story is yet to be written. So let’s say collecting early pieces of NFT artwork will be similar to owning rare physical artwork. Currently, many NFTs are valued in the millions for this exact reason. 

Metaverse Integration

The next big thing in technology after the internet is likely to be the Metaverse. Education, conferences, white collar jobs, and a lot more will be done through a VR avatar based metaverse. Hence buying virtual real estate, aesthetics, and related things can yield a significant income. As the Metaverse grows the demand for such things will also grow. This will result in NFT prices going up. 

Access Based NFTs

NFTs often provide their owners with access to exclusive content, communities, or experiences. For instance, owning an NFT may give you access to virtual concerts and private communities. A lot of NFTs can also be used in games, virtual worlds, and various platforms. Such NFTs are likely to be used in more future platforms. Investing in such NFTs can help you get a significant return in the future.

Yielding and Liquidity Platforms Increasing

Various platforms like Openseas, Blockchain App Factory, Clarisco, etc allow users to earn through staking their NFTs or allow them to use their NFTs as collateral in DeFi protocols, this helps users earn passive income. Moreover, such platforms also allow you to sell, trade, and buy NFTs with relative ease. More such platforms offering better terms are likely to drop as the Metaverse grows, making NFT staking and trading a profitable market. Again buying them early will help you earn more. 

Conclusion

As you can see various technologies are being used to create a more immersive virtual experience for users. The blockchain-based Metaverse is inevitable as it solves many monetary and social problems. Increases in inflation, pollution, workspaces, strict visa policies and so much more can be curbed by utilizing the Metaverse. For instance, establishing an office on the metaverse will reduce operations costs by saving on rent, electricity, utilities, and more. People from anywhere in the world can work with anyone in the world in real-time, like almost being physically present. Children can learn from the comfort of their homes and everything will be centered around NFTs. So smartly investing in NFTs can potentially make you a millionaire in the future.