This is How We End it!
When we thought to educate our audience about NFT’s, we never thought we would have to make 3 PARTS. Like now, people are binge-watching web series; some prefer to have a proper sequence of blogs and articles. The main reason to create this series is that some topics are so vast that we can’t cover them all in just one piece of content. In the previous 2 parts of the NFT Guide for Beginners, we discussed NFTs from scratch and how you can understand them. Also, we elaborated on the critical role of cryptocurrencies in the marketplace. In this final part of this series, we will describe the future of NFTs for artists and should you invest in this space.
Why NFT is the Future for Every Artist?
If you are an investor, it doesn’t matter if you invest in something big or small. What matters is your ability to predict its future and how it will change lives. That’s the same case for NFTs. People are investing their time and money in different NFT projects. This new marketplace also attracts artists from various genres. If you can create art, music, videos, gifs, audio, and pictures, you can be an NFT artist.
Although there is a vast scope for everyone in NFTs, people still hesitate to get their hands dirty. The same thing happened to the Internet in the ’90s when people told us it wouldn’t last. However, within a decade, the market has shifted to the Internet as most traffic and consumer attention is online. Any artist who knows how to create something people will love to buy and collect will succeed in this market. If your NFT projects provide values and are willing to pay for it, there is nothing to stop you.
You should keep in mind that if you are starting your NFT artist journey, create something unique and attractive, not only which is trending. Just following a trend might help you make some profits in the short term, but it will not help you grow in the future. Values and uniqueness last for years, trends last for weeks or months. Just for data, in March 2021, the NFT marketplace has crossed the value of $80 million in such. Artists are making millions of dollars just selling their work on the NFT platforms.
Just imagine, what if Pablo Picasso were live alive in this time!!
Is Investing in NFTs Good For Long-Term?
We didn’t want to disappoint or can’t predict its future. But it’s clear that if you just came into this business because others are making money, you’ll fail. Just because they have made some good money selling images, that is not enough for you to come. On the other hand, many individuals would rush into investing in projects only because they have been guaranteed that they will be worth a lot of money. We are in the midst of a gigantic supply and demand crisis โ there will be even more supply in NFT projects than anyone can comprehend over the next six months, with the majority of it being short-term exchanges.
Many people will be disappointed when their NFTs fall by 80 percent after a few months. Instead, educate yourself and determine which initiatives or persons you support. This is an entirely new and different space. We have to believe in artists’ capacity and what values they deliver to their communities. We believe that artists who genuinely care about their communities will triumph and that such initiatives will be around for the long run.
Let’s Conclude Everything Here!
NFTs represent a significant technological and cultural shift, comparable to the arrival of the Internet, web 2.0, and social media. A tremendous oversupply will compel the bulk of NFT projects developed in the following years to fail, although the market will stay long-term. Crypto art will provide enormous opportunities for artists to commercialize on their intellectual property. Also, ordinary people love buying and collecting art.ย
We love creating this series to educate the people out there. But also, it’s sad that this journey is ending here. But don’t worry, SW SOFTTECH will bring you many series like this because we understand the value of content that educates people.
