We have been discussing NFT art quite a lot here at the Trade Selecter recently. They have almost instantly become one of the red-hot novel asset classes on this planet.
For reference, Non-Fungible Tokens are, in essence, digital collectibles. They permit people to cryptographically authenticate and secure unique data or digital assets on a blockchain.
With NFT art, it is extraordinary how quickly this asset class has moved to the mainstream. Businesses with brands and assets that are hot with consumers have raced to capitalize on the Non-Fungible Tokens trend.
Want to guess which company is the most recent to jump into Non-Fungible Tokens art? Well, none other than American mass media company - Fox Corporation.
It is true – the same Fox company that has several top ten cable TV news shows every month is getting into collectible Non-Fungible Tokens. Fox is forming a new business division to be known as Blockchain Creative Labs.
Carried out in the framework, Fox is investing over $100 million in a newly created fund for digital authors focused on NFT art. The company proposes to develop Non-Fungible Tokens encompassing its top brands. This might include their news personalities and Fox’s most successful programs of the last several decades.
However, what is most noteworthy here is how fast Fox is getting into Non-Fungible Tokens.
Think about that; there was virtually nothing happening in the Non-Fungible Tokens space over a year ago. Now, Fox is on board big time. Large companies usually do not move this quickly - And it is not just Fox corporation.
The U.S. Space Force is getting into NFT art and recently announced that it is designing AR (augmented reality) based Non Fungible Tokens that it will be auctioning off. This includes Non-Fungible Tokens of coins, spacesuits, satellite imagery, and Space Force patches.
This counterpart with the Space Force’s launch of the latest new satellite line will allow more precise navigation results. The Space Force agency will be using this as an event to create and launch Non Fungible Tokens as well.
And check this out – the Space Force’s NFT art token inauguration is named after the prominent astronaut Neil Armstrong. The entire collection is nicknamed the Armstrong Satellite Non-Fungible Tokens Launch with Space Force.
Thus the rate of Non-Fungible Tokens adoption has been more and nothing less impressive. And when we examine branches of the military and traditional companies jumping on board, we can be assured that Non-Fungible Tokens are here to stay.
To clarify, NFT art tokens are the genuinely next generation of collectibles. They're a digital leapfrog from the real collectible market stuff that has been in existence for centuries.
Non-Fungible Tokens are assets. They have a value that is defined by demand and scarcity, like any distinct market. And the environment is advancing at a pace, unlike anything we have seen before.
The Non-Fungible Tokens market is evaluated and estimated and to be nearly $250 million in 2020. Currently, that number is around billion by the end of the year will be in billions.
I have lost track of how many notable organizations and brands and have hopped into the bed wagon to launch their very own kind of NFT art tokens.
And for people who like collectible treasures and understand this space, this is a rising and emerging market not to be ignored for exciting investment and trading opportunities.
Furthermore, who knows, we might discover something that we would like to keep and hold on to for a very long time.