What Makes A Good NFT?
This past year, we saw a massive adoption of NFTs across the world. Popular collections of NFTs, such as Bored Ape Yacht Club, CryptoPunks, and CloneX have completely transformed the digital asset marketplace. In 2021 alone, the NFT market skyrocketed to $41 billion and is expected to continuously grow over the next few days. By 2025, it is estimated that the NFT market will have a value of $80 billion.
Currently, the NFT market is not oversaturated; however, as more people create NFTs, it’s more than likely the supply will outweigh the demand. The NFT market quickly gained mainstream traction, which has led to an increase in posting and selling NFTs on marketplaces. This has made the search process for potential buyers overwhelming and difficult for creators to increase the visibility of their NFTs. As such, we ask ourselves — what makes a good NFT?
More Than Just a JPEG
NFTs have the capability to be more than just a jpeg. What’s really exciting is the varying utilities NFTs may contain. Utilities enable the collector to gain certain perks and rewards depending on the NFT and the project that listed the NFT. For example, certain NFTs may give collectors exclusive access to NFT clubs, staking rewards, platform perks, and much more. The utility possibilities are nearly endless. At Decubate, we use NFTs to enhance the investor experience and provide rewards. Not to mention, they look really cool. Check it out here!
Decubate’s NFTs are the Future
To reward Decubate investors, our NFTs provide a plethora of rewards. Decubate NFTs may provide investors with exclusive access to high APY staking pools (alleviating issues with NFT liquidity), enhanced investment privileges, governance boosts, and more. We also collaborate with our partners to create custom NFT giveaways, so be sure to keep your eyes peeled for a chance to win.
The Decubate inventory page streamlines the NFT acquisition process, enabling investors to view the items they’ve received and interact with Decubate NFTs. In the future, the inventory system will include the ability to transfer and sell items.
We asked Decubate’s CEO Elliot to share his insights on what he looks for when buying and selling NFTs. According to Elliot, NFTs are a potential gateway to digitize a variety of assets. To him, the quality of a good NFT is measured by the artwork, the team behind it, and the roadmap. After all, what good is an NFT if there’s no long-term vision for it? Aside from that, he emphasized the importance of great marketing and the exclusive benefits an NFT may provide.
Know More, Do Better
As the marketplace for NFTs becomes more saturated, it’s essential to find a niche concept or idea. For NFT creators, it’s important to understand how the marketplace functions and where the current demand lies. Ideally, by finding a balance between the creator’s passions and what the marketplace demands. Really take a moment to think about what’s important to you and how you present your work creatively to the public. In a world that’s already sensitive to trends and fads, it’s even more important for creators to stay on top of their game and to engage themselves with what’s hot and happening. Needless to say, the wheat gets separated from the chaff quite fast.