NFTs are now rarely being a passive income, but in near future, they'll be the best source of passive income.And make sure you're early in the game!

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Can we consider NFTs as passive Income? 

NFTs are rarely being a passive income, but in near future, they'll be the best source of passive income.But, How can it be possible? for example, If a YouTuber had 100 videos in his channel and he minted them as NFTs, he shares the profit of the amount he earned through monetization to the owner of the videos.Like,you bought one NFT from him, if he earned $100 from that video he'll share the percentage of the amount you guys decided when you bought the NFT.

Possibility 

Recently, a music artist, Blau minted 300+ NFTs for his album to share 50% of revenues from the song 'Worst Case' for the holders. This will be more like a share market, we might be seeing this type of passive income with NFTs in real estate, creator economy, startup funding, and many more places. Ever thought to invest in a creator?I'm so excited about this. Let me know your views on this type of Passive Income with NFTs.

Reality

Can we consider NFTs as a passive income?

NFTs presents a new medium for artists and creators to showcase and monetize their creations. In turn, collectors have transparency into the authenticity and origin of their purchases. While you can screenshot an NFT without purchasing it, you would not be able to sell it at the value of the original. Every time the NFT moves on the secondary market, the new owner and the purchase price is automatically recorded on a blockchain for everyone to see. Ultimately, you are not buying the picture - you're buying the property rights to the picture.

NFT is a tool to authenticate an artist's work

Between 2018 and 2021, NFTs moved into public awareness before mainstream adoption in early 2021. The NFT market is more efficient and liquid than current methods of transferring assets.<ul><li>Opensea is the largest marketplace for art, music, domain names, collectables, and trading cards.</li><li>Minable's platform focus on making the minting process easy for creators.</li><li>Portion is an NFT platform that bridges NFTs, DeFi, and DAOs where the holders of the governance token $PRT are in charge.</li><li>Niftex allows users to buy fractions of NFTs or "shards", which are ERC20 tokens.</li></ul>

2018-2021: The NFT Explosion

An NFT is a unique asset and can represent any digital asset on the Ethereum blockchain. This makes it scarce, provable, and valuable. It can take the form of digital art, collectables, a creative extension of music, or a blend of all three. Anyone can create an NFT. As long as individuals can prove they created or legally own the content, they can mint an NFT.

The importance of Non-Fungible Tokens (NFT)

The CryptyArt category was started by cultural phenomena like CryptoPunks, Rare Pepe, and CryptoKitties. The viral network effects and the desire to buy these pieces helped these pieces of art to gain fame. On May 3rd, 2014, Kevin McCoy minted his non-fungible token "Quantum" long before the crypto art market exploded. The "Quantum" art piece (2014-2021) is on sale for seven million dollars.

The first NFT

2016: Trading Cards on Counterparty. Counterparty teamed up with Force of Will, a trading card game, who launched their cards on the Counterparty platform.2016: Rare Pepes on Counterparty. Memes entered the blockchain and made their way onto the Counterparty platform. People started to add assets to a meme called "Rare Pepes." By early 2017, Rare Pepes started to be traded on Ethereum as well. CryptoArt was born with the Rare Pepe Wallet. Now any creator could submit and sell their artwork.

History of NFT: New trends

John Watkinson and Matt Hall developed unique characters on the Ethereum blockchain, limited to 10,000. The project name, Cryptopunks, was referenced to an experiment with Bitcoin in the 1990s.<ul><li>ERC20 is the most common Ethereum Token Standard that allows tokens to interact.</li><li>ERC721 is the standard for NFTs on the Ethereum blockchain. It helps track ownership and movements of individual tokes from a single smart contract.</li></ul>CryptoKitties NFTs use ERC721. They are a blockchain-based virtual game that allows players to breed and trade virtual cats using Ethereum.

2017: Cryptopunks

<ul><li>2012-2013: Colored Coins. These are tokens that represent real-world assets on the blockchain and can be used to prove ownership of any asset, from cars to real estate. The idea was to use the Bitcoin blockchain.</li><li>2014: Counterparty platform. Counterparty, a peer-to-peer financial platform, allowed asset creation and had a decentralized exchange, enabling users to create their own tradable currencies.</li><li>2015: Spells of Genesis on Counterparty. Counterparty partnered with Spells of Genesis. They were pioneers for issuing in-game assets onto a blockchain via Counterparty and also launched an ICO.</li></ul>

The early history of NFT

Confused About NFTs?

NFTs provide a bright future. Any artist can and should tap into this powerful blockchain technology to reach new audiences that are excited to collect and appreciate their work.

From Kevin McCoy's "Quantum" to Colored Coins, Counterparty, Rare Pepes, Cryptopunks, and CryptoKitties, we look at some of the defining moments of NFT history...

The History of NFTs & How They Got Started

Non-fungible tokens, or NFTs, are unique crypto assets. They can be used to represent both tangible and intangible items. A tangible product is a physical object that can be touched such as a building, gadget, etc whereas an intangible product can only be perceived indirectly. Fungibility is the ability of an asset to be interchanged for another of an alike item for example gold, dollar, etc. Non- fungibility is the ability of an asset to be irreplaceable or unique for example art, etc.

Fungible, Non Fungible? 

Non-fungible tokens (NFTs) can be used for digital assets or goods that are different from each other to prove their worth and rarity. They can represent and provide digital acceptance to everything from virtual games to artworks etc.Non-fungible tokens are not traded on standard and traditional exchanges, instead, they are purchased or sold on digital arena or marketplaces.

How Are NFTs Used?

A non-fungible token is a digital certificate of authenticity and credibility that you own something collectively known as the blockchain. It keeps a record of your transaction history. NFT is opening a creative platform for underrated goods and giving collectors an easy way of collecting arts digitally. Non-fungible tokens (NFTs) are evolving with time and industry growth. Beeple is a popular name emerging in the NFTs world. Read below to explore how NFTs work, and how they're being used.

What Are NFTs? 

Non-fungible tokens can be created on contract-enabled blockchains with non-fungible token tools and support. Ethereum was the first to be widely used, NEO, EOS, etc now also have NFT standards.Non-fungible tokens and their smart contracts allow for detailed information to be added, like the identity of the owner, etc. The potential of non-fungible tokens is to provide proof of digital ownership of an asset in the digital world making the easy flow of buy and sell on non-fungible items.

Can we consider NFTs as passive Income?

Can we consider NFTs as a passive income?

The History of NFTs & How They Got Started

It's time to
Read like a Pro.

What are NFTs? A brief note

CURATED BY

Can we consider NFTs as passive Income?

Can we consider NFTs as a passive income?

The History of NFTs & How They Got Started

It's time to Read like a Pro.

What are NFTs? A brief note

CURATED BY

It's time to
Read like a Pro.