Are NFTs Viable Long-term Assets?

by | 29-03-2022

Do you ever feel the urge to smash your head against the wall for not seizing cryptocurrencies? The universe offers you another chance to become a billionaire by acquiring NFTs.  Read this elucidation on NFTs and decide whether or not are NFTs viable long-term assets and you want to get your hands on this invention or dilapidate it (just to regret later).

“If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.”
– Satoshi Nakamoto (the name behind Bitcoin development)

Stop rolling your eyes, and dig the latest information on NFTs in 2023.

Nonfungible tokens, also known as gaming tokens (NFTs), developed on the Ethereum blockchain, are all over crypto news. Nonfungible tokens gained popularity with Cryptokitties (a crypto-based game), and now several platforms are using famous NFTs, including most well-known names such as Etherbots and CryptoPunksNFTs are taking over the world of cryptos with the devilishly inflated rage in 2023.

So, are they going to stay for long? Should you invest in NFTs? Let’s find out together!

Are NFTs Viable Long-term Assets?

Here are some things that you should consider when choosing to invest in NFTs:

Sense Of Ownership 

Have you ever wondered buying digital art for millions of dollars? Thanks to blockchain technology for turning your manifestation into reality! Ironically, some celebrities are boosting the privilege to own NFTs. Recently, famous popular rapper Snoop Dogg created an NFT collection name “A journey with the Dogg.”
Snoop compiled all the memories of his early childhood, artwork edified by NFT, along with an original track  “Snoop Dogg Coins.” Auctioneers had 48 hours to acquire the NFT. Snoop Dogg made crazy money with above $100,000  for just one of the pieces of an album being sold. The fire to own NFT was ignited when digital art created by Beeple was sold as an NFT for a tremendous cost of $69.3 million. 

Sense Of Ownership in NFTs

Why Should You Own NFTs?

A blockchain system empowers NFTs; thus, the token holder can make transactions without intermediaries or financial mediums. The leverage in making transactions is why millennials and Gen Z’ers idolize the concept. Moreover, NFT owners can hold unique and creative artwork as a hobby or as an investment to resell the token as the price goes high.

The technology provides a chance for digital artists, doodlers, musicians, writers, and any creative individual to hawk their work and gain funds. NFTs equip these ingenious minds with an opportunity to get more visibility, earn money and showcase their unique talents. 


Why Should You Own NFTs


NFTs Transforming Gaming World

With NFTs, gamers can earn nonfungible tokens and exchange them over several NFTs’ marketplaces. Video games comprise an array of animated creatures incorporating weapons, costumes, avatars, etc. NFT games allow the users to play, fight, attain and collect these objects as nonfungible tokens, which are tradable for other games created by the same developers.  Initially, most NFTs’ games were free to play. However, with the increased audience and a large amount of traffic, the latest NFT games require users to buy a starter pack. Gods Unchained and Splinterlands are two of the most popular free-to-play NFTs games. 

Axie Infinity ranks on top with the total recorded sales of $3.56 billion, while the Sandbox Games hit $443 million of sales volume as of March 2022. With the increased number of gamers and crypto fanatics, NFT technology will serve the gaming industry for a long time.


NFTs Transforming Gaming World

NFTs’ Marketplaces, Sellers, & Acquires are Rising

Nonfungible Tokens mysteriously gained popularity to the point of having their own robust NFTs marketplaces. A nonfungible market is a platform allowing creators to sell their masterworks (painting, melody, digital art, narrative, writing, avatars, memes, etc.). In contrast, buyers compete to acquire the worthiest digital objects as an NFT.

In March 2022, 39000 NFTs were bought on (NFT marketplace).  OpenSea is the largest NFT marketplace for buying and selling nonfungible tokens. With a whopping trading volume of above $600 million, NBA Top Shot competes for head to head. OpenSea and Atomic Market are scoring $90 million every 30 days, while ABC makes around a quarter billion dollars monthly. With proper markets, digital creators, and buyers, the technology provides an excellent chance for brilliant artists to showcase their skills and get recognition.  


Are NFTs Profitable Long-term Assets?

Every invention comes with several opinions; however, we gradually adopt the tech even if we initially were in the queue of neglecters. The introduction of cryptocurrency and its rise over the years reveals the demand for digital evolution. NFTs seem to bring promising economic outcomes, favorable for creators and investors, as their prices may increase with time. 

To conclude, it is comprehensible that NFTs are transforming the digital industry, gaming world, and crypto market. As NFT is powered by blockchain technology, it provides end-to-end encryption, thus keeping data safe and sturdy for everyone.  Nonfungible Tokens are here to stay; however, the anticipation regarding their profitability cannot yet be vocalized, but the stats express thriving tomorrow for the innovation. 

Are you curious about discovering more about blockchain, the crypto industry, or NFTs? Stay connected and keep your noggin enlightened with all the latest data keenly fetched just for you! 

Recent Posts

Brazil Adopts Blockchain
Brazil Adopts Blockchain for Digital ID Verification

In a groundbreaking development, the Brazilian government has revealed its intention to leverage blockchain technology to revolutionize the national digital identification system. This announcement aligns with the government’s efforts to adopt technology for enhancing cybersecurity and efficiency in various fields. In the initial stage, blockchain technology will be integrated into the national identity program in […]

how to create stable coin
How to Create Stablecoin in 2023 – A Quick Guide

We are living in the era of the emergence of decentralized currencies. In the decentralized world, secure connections of blocks containing data are the central elements of Web 3.0, the crypto world, NFTs, and other types of digital assets. One of the biggest issues one faces while dealing with cryptocurrencies is their volatility and instability. […]

Top 5 Blockchain Protocols to Know in 2023

Every industry needs a robust and undeniable technology for critical development. What’s more, without blockchain in the game, it’s profoundly improbable for any business to develop it. Blockchain is vital in the modern space to help accomplish critical, careful, and dependable objectives. So, blockchain enhances your business infrastructure and the wide range of various viewpoints […]

Dogecoin Value Soars As Elon Musk Changes Twitter Logo

Since tech entrepreneur Elon Musk officially took over Twitter, he has made a host of unpopular and controversial decisions resulting in declining shares of the social media giant. Not long ago, the Tesla owner publicly admitted that the value of Twitter, the company he purchased for $44 billion, is now $20 billion. The social media […]

Profile Picture

Muhammad Mustafa is an experienced content writer with expertise in SEO. With a background in Software Engineering, Mustafa combines his knowledge of various technology stacks with a passion for writing. Besides writing, he loves cricket and traveling.

Muhammad Mustafa

Related Posts

Flutter 3.7: Paving The Way For The Future Of App Development

Introduction The future belongs to cross-platform development, and Flutter is one of the most popular and fastest application development platforms. Supported by Google, Flutter was first released...
best web development tools

Top 10 Website Development Tools For Developers

There was a time when websites were simplistic in nature, and their whole purpose was to serve as a centralized data storage. Nowadays, however, the field of website development has rapidly evolved...
Best Cross-Platform App Development Frameworks

Best Cross-Platform App Development Frameworks in 2023

In the modern era, software applications have become an integral part of our everyday lives. Thanks to the unprecedented popularity of smartphones, every business opts for a mobile application to...

Best Practices To Follow In REST API Development

An Application Programming Interface (API) can be defined as a set of rules that standardize data exchange between applications. It facilitates various applications in directly communicating with...

Why our clients
love us?

Our clients love us because we prioritize effective communication and are committed to delivering high-quality software solutions that meet the highest standards of excellence.

anton testimonial for ropstam solutions

“They met expectations with every aspect of design and development of the product, and we’ve seen an increase in downloads and monthly users.”

Anton Neugebauer, CEO, RealAdvice Agency
tariehk testimonial for ropstam solutions

“Willing to accommodate nonprofit budgets, Ropstam brought their robust experience to the project. They checked in consistently, and were communicative, easy to reach, and responsive.”

Tariehk, VP of Marketing.
mike stanzyk testimonial for ropstam solutions

“Their dedication to their clients is really impressive.  Ropstam Solutions Inc. communicates effectively with the client to ensure customer satisfaction.”

Mike Stanzyk, CEO, Stanzyk LLC

“Ropstam was an excellent partner in bringing our vision to life! They managed to strike the right balance between aesthetics and functionality, ensuring that the end product was not only visually appealing but also practical and usable.”

Jackie Philbin, Director - Nutrition for Longevity

Supercharge your software development with our expert team – get in touch today!

"*" indicates required fields

This field is for validation purposes and should be left unchanged.