Non-fungible tokens (NFTs) aren’t like cryptocurrencies even though they are digital assets. Their value comes from how rare they are, which is why some are going for millions apiece. Here’s everything you need to know about this latest blockchain fad that some are calling the ‘future of art’.
While one can exchange one Bitcoin or Ether for another — NFTs aren’t interchangeable. This latest blockchain fad has people spending millions just so that they can have the bragging rights to digital art, music, and images.
The “Richest in History” NTF collection
The most exclusive NFT collection in history starts with a price of 0.01 ETH and each token multiplies its value by PHI (1.618). With this progression, we arrive at the “# 1 King Solomon” token which is priced at 48,675 ETH. YES: it is possible to have a piece from a collection with 33 NFT valued at $500 million from only 0.01 ETH. But for a limited time.
Each token in this collection is unique and does not repeat itself. There can only be 33 owners. Perhaps the most daring buyers will get to own one of these NFT, but the main tokens are reserved for really wealthy people.
This NFT collection represents the richest people in history. They are symbols of the power that can be achieved and serve as an example and inspiration. That is why each piece in the collection can be considered an amulet to attract luck and fortune. The tokens and their property are housed in the blockchain and thus it is guaranteed that they cannot be destroyed and that they will last for many, many years.
This collection helps the environment by avoiding wasting many resources and a lot of CO2. Think about what it takes to build and move superyachts and luxury private jets. Essentially they are a way of displaying power and wealth unequivocally, and that function can easily be fulfilled by this unique NFT.
Is it too expensive an investment? Take for example the purchase of a superyacht. It is a demonstration of economic power and social relevance. It has a function in the real world and there is a very strong market. Now, this unique NFT can also be purchased to demonstrate real power in the virtual world.
This collection is an excellent investment thanks to its original model of increasing prices. The human being is competitive and when you buy a token someone will want to have the one that is a little more expensive. Best of all, buying an expensive token raises the price of the entire collection. That is why whoever has a token always wins, even if it is the cheapest. Remember that there are only 33, no more.
Digital identity is becoming more and more important every day. Many people try to impersonate others on the internet because it is easy and cheap. Now the owners of these exclusive tokens will have a safe value to demonstrate their true economic power.
If we want to collect really valuable NFT it is important that the collection is very limited and of great value. Without a doubt, this is a really interesting collection for collectors and investors.