FEBRUARY 28, 2022
Probably one of the most popular abbreviations of the last year was NFT, and it's not going to change in the near future. Even though the possibilities of non-fungible tokens may seem endless, there are some rules and trends in this market that you would probably want to learn about if you start your NFT business.
Pioneers of the brave new world
Technologies have always been a great source of inspiration for artists and designers, so no wonder, these two fields became pioneers of the market and already made millions of dollars from auctioning NFTs. NFTs actually empowered a new marketplace for creators and allowed them to sell directly to collectors and make a profit whenever the art is resold. World-renowned fashion brands such as Gucci, Balmain and Burberry were the first ones who collaborated with digital artists and entered the market. Dolce & Gabbana launched its NFT collection, Collezione Genesi, which was sold for $5.65 million, Gucci auctioned its short film Aria as an NFT and then sold it at Christie’s for $25,000 while Louis Vuitton created a game with thirty hidden collectable NFTs, part of which were designed in collaboration with major digital artist Beeple.
Find your niche and win the market
While opportunities to explore grow, Entrepreneurs want to take the most of them in order to become flexible in various niches and to spread vast and wide. Thereby according to particular business needs, there are different ways to spread in the global market such as white label solutions. Magora allows you to launch a custom NFT marketplace or use it’s the white label solution to establish an NFT network for the next generation of creators and collectors. According to the trends, Play-to-Earn gaming will build a slew of opportunities for both gamers and creators. Magora gives an easy customer access to gaming assets and allows users to link a wallet, download content, set a price and withdraw funds and provides functionality for a user to search and purchase. Working for more than 10 years and having over 500 cases, Magora focuses on turn-key projects and creates tailor-made solutions that meet the requirements of your business and ideas.
Feel safe with Magora
The market for NFTs is huge and is only getting bigger. However, even though the possibilities of NFTs may seem endless, just like every new investment/asset class, you should invest with caution because of the very risky and speculative nature of new, undefined markets. So whether you are investing into, selling or just curious about the world of NFTs, Magora will suit your needs and will ensure that your journey is safe.
If you see advice from our consultant on how your business can benefit, please feel free to contact us at sales@magora.co.uk

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