The NFT market is estimated at $22 billion, and the industry seems to be a pretty intriguing phenomenon with numerous peculiarities. Some of them are common. For instance, we all know that all NFTs are unique, everything digital can be tokenized, and the industry is constantly developing. However, there are still some under-reported details that are worth being known. TakeUs is here to change the situation. So, hold on tight, and enjoy 15 amazing facts about NFT.
Fact 1: The First NFT was Launched in 2014
In 2014, long before the crypto art industry was shaped, artist Kevin McCoy minted his non-fungible token Quantum. Quantum is a digital artwork that represents a hypnotic pixelated octagon with the figures that intersect in the center.
Fact 2: The First NFT Concept Dates Back to 2012
Though Quantum is regarded as the first issued NFT, the concept of NFTs is a bit older. In 2012, Meni Rosenfeld introduced the concept of Colored Coins described as methods for managing real-world assets with the help of the Bitcoin blockchain. All assets were supposed to be unique, with proven ownership of holders.
Fact 3: NFT went Popular with Cryptopunks
In 2017, John Watkinson and Matt Hall designed characters generated on the Ethereum blockchain. Each of them was unique, and their amount was limited to 10 000. The project was named Cryptopunks. It was a reference to experiments with Bitcoin in the 1990s. Noteworthy, the first Cryptopunks were given away for free to any owner of an Ethereum wallet. The project gained much recognition, contributed to the popularization of the NFT art, inspired numerous artists worldwide, and now keeps on bringing huge revenues.
Fact 4: Beeple’s Everydays is the Priciest NFT now
Sold for $69 million in 2021, the Everydays: The First 5000 days is still the most valuable token that shows the power, profitability, and potential of any NFT art in all its forms and shapes. The success of Mike Winkelmann known as Beeple motivated other artists to master their skills, investigate the world of crypto, and show their works to the public. Some of them go big, for example, one artist made over $1 million in nine months.
Fact 5: Celebrities are much into NFT
Not only the unknown artists and selective collectors explore the world of NFT. Celebrities are highly interested in the industry too. For example, American rock band Interpol and David Lynch turned their former collaboration into an NFT project. Eminem sold his first NFT collection for $1.78 million. Grimes sold NFTs for $6 million.
Fact 6: Brands Build NFT Strategies
Numerous brands are diving into the NFT world to boost their marketing, attract new customers, and earn in a new, digital way. Among the NFT adopters are Asics, Clinique, Coca-Cola, Gucci, McDonald’s, Rayban, and Warner Bros. The list of companies issuing or buying digital assets is getting longer daily.
Fact 7: 23% of Millennials in the US Collect NFTs
Though one may think that NFTs are supposed to be especially popular among Gen Z representatives, only 4% of them collect them. Meanwhile, 23% of Millenials are much into buying digital assets as a form of investment.
Fact 8: Nigeria is likely to Show the Highest NFT Adoption Rate
Currently, Nigeria ranks 6th in the world for NFT adoption. Meanwhile, 13.7% of 1205 Nigerian Internet users already own NFTs, and 21.7% of respondents plan to buy some digital tokens. Consequently, NFT adoption in the country may reach 35.3%. Noteworthy, the biggest group of NFT owners in Nigeria consists of citizens aged between 55 and 64.
Fact 9: Over 70% of the USA Citizens Have no Idea about NFT
Though NFT is going viral worldwide, in the USA, only a bit more than 20% of citizens know what digital assets are. Previous studies showed other figures according to which 81% of the USA adults are aware of NFT.
Fact 10: Memes Can Bring you Money
The world’s most expensive NFT meme sold for more than $4 million. It was the well-known Doge meme non-fungible token. Other examples of successful memes include the Disaster Girl sold for $500 thousand, and the Bad Luck Brian sold for $36 thousand. So, making memes can’t be regarded as a waste of time anymore.
Fact 11: Not all NFTs are Ethereum-Based
Ethereum is widely mistaken for being the only blockchain for NFTs. However, digital assets can be created via Tezos, Solana, which has the marketplaces Magic Eden and Solanart, Harmony One, and other protocols to list.
Fact 12: NFTs are Studied by Scientists
Now thousands of NFT-related studies are available online, and one can be sure that this industry is gaining popularity in scientific circles, where experts want to distinguish why digital assets are getting viral, and how they influence art, finances, culture, and society in general.
Fact 13: Traditional Investors are Here too
In 2021, the payment processor company Visa bought a CryptoPunk NFT for $150 thousand. This event showed that NFT can attract even the representatives of the traditional financial segment. “We think NFTs will play an important role in the future of retail, social media, entertainment, and commerce,” Cuy Sheffield, head of the crypto department at Visa, claimed.
Fact 14: NFTs Have Real-World Utility
NFT is not about collecting art only. For example, it is used in the real estate industry and applied as an alternative investment. Additionally, it is viral in video gaming where NFT games open new opportunities for players and enable them to earn.
Fact 15: NFT Motivates to Play
56% of gamers who know about NFTs would like to earn them while playing. Probably, these figures may illustrate why blockchain games are so popular. Currently, the play-to-earn craze is attracting more and more gamers daily. People enjoy a huge variety of games and modes. Meanwhile, they are enabled to earn by playing. If you want to join the industry, TakeUs is at your disposal. With our help, you can easily rent digital assets, start your amazing journey, and turn your hobby into a source of stable income.
NFT inspires, attracts, and intrigues. This phenomenon has already caused an immense craze, but it is still at its very beginning. Think ahead and join the promising community for more impressive benefits to come. For example, start playing NFT games. Who knows, maybe one day it will turn you into a billionaire.