What NFT Avatars are Popularly Known For
Non-Fungible tokens have become one of the new digital assets class, also employed in driving and expanding value growth in the DeFi ecosystem.
The onset of NFT popularity began when Crypto kitties rolled in like a hurricane and hit Ethereum sweeping across other blockchain communities and with each sweep millions of users and collectors.
One thing to note is that “The value of NFTs is tied to sentiments’ a human emotion well-known by all.
In recent years, NFTs have become a hot topic, but NFTs greatly contribute to the crypto community- as the community itself has evidently seen the power of NFTs. Top investors, industries, celebrities, and fashion brands have joined the NFT culture, and more well-known brands are moving towards the use of this digital asset each day.
As such we can’t neglect the value of NFT
As stated earlier NFTs are created and designed to hold sentimental value. A virtual asset tied to human emotion, this is a potent mix that could break or make a brand. Every Established NFT project/avatar (bored apes, cool cats, crypto punks, Wabi-Sabi, Wonkey-Donkey, Gendora); all hold sentimental values and are aesthetically pleasing, this could point out to us that some effort has gone into the casting/ pixel of these NFTs.
Humans are greatly affected by things they see, hear, and mostly feel hence the growing demand for NFT avatars was greatly fueled by social media discussions, ostentatious and exorbitant displays by collectors, and the value attached to holders of such NFTs-this grants holders a rite of passage into a new era of digital hierarchy, which in turn stimulates and spur more people to show interest in becoming holders.
Take it as holding a VIP or golden ticket to one of the Queen’s tea parties- brands have played on these values amassing profit and gains while rendering the same old services “Building a social class”, however, this may not be your orthodox four variants of classes, but to whoever has access or is a collector, and as we all know in Decentralized finance, a collector may not necessarily be uber-rich or poor, and once again the power of social class lorded and commanded by intermediaries is thwarted, there is no doubt that that market for NFT avatars is growing,
Beyond collectability and essential value as unique assets, NFT avatars are popularly known for;
- Community Building; We can’t over-emphasize the cognate connection NFT strikes between people, this leads to a community of two or more people established around NFTs, be it a profile picture campaign or just a single wanderer; owning an NFT is automatic access to the community creating harmony between people in the space.
- Use case; NFT avatars/ assets are useful for gamers, Non-governmental bodies for fundraising, sale of crypto art, and gambling enthusiast, where holders can participate in online casino competitions.
- Social Status; The display of well known NFT avatar (bored apes) on a collector's digital status can be perceived as a public show of ownership and is considered a huge flex in the crypto community.
- Rarity; To cater for copycats and plagiarism in the ecosystem, NFTs are programmed with unique codes/ keys that only the original token holder can claim/ show evidence of ownership. Just as it applies to collectables in the real world, the more scarce an NFT is the more it is coveted by collectors.
NFT Avatars before creation are given much thought by their creators, the stories and references these avatar tells and make, the aesthetics and pleasing features it gives holders and collectors, all contribute to creating an NFT in the ecosystem.
The bottom line is that NFT avatars have been a great asset and contributed tremendously to industries, its technology-terms of contract, functionality, and utilities will keep evolving.
To learn more and get started on our NFT collection Terrestria check out The BAYC of Concordium.