My cousin made a $1000 bet on the future! ( NFTS)

Play to earn! Digital art! The metaverse! Music! Content curation! Celebrities virtual & legal rights! Verification of ownership for real life properties and so much more.

Looking back at the overwhelming transformation of the internet and the absurd’ but lucrative opportunities it created and life changing moments it gave to the world in general and our very own celebrities like Gary vee, Zack king, Mkdb and many more. It should not be of any surprise that the world today is expecting a shift similar to the one of the internet, but the real question is why? What could Nfts possibly manifest and change in our common era, what’s the million dollar opportunity we should be beting our money on, or is it just a bubble, a sparkle of greed in the market.

Well! “Seek and yee shall find”. So welcome my friends as we uncover the hidden potentials and anticipated possibilities of Nfts.

My cousin asked me to make a research on the topic because he placed a silly bet and what’s to win, so this is the conversation that brought it all up.(for better understanding why these article is VITAL!)

(Small dialogue between my cousin and I that led to these article)

Cousin: Hey bro! Have you been?

Me: Great and you?

Cousin: I have anxious fever😂

Me: What! Anxious fever😅 what do you mean?

Cousin: Well! I placed a placed a bet on Nfts, that it would be either three things in the future😁

Me: How much?🙄

Cousin: A $1000

Cousin: Please I would really love, if you would do some research on the topic!

Me: Okay, that’s cool

Me: Next time give me a heads up before you bet😒

Cousin: Then its not called a bet🙃Me: 😑

Me: So what were the bets?

Cousin: Read till the end of the article and you will find out!👻

Me: 😒

So! These are the shortlist of potential possibilities of highly anticipated use cases and already in use for Nfts (rated with percentages of high occurrence)
Play to earn(89%) — These should probably be the highest in ratings and overall the most likely to occur. With a total of 3.3 billion games around the world, a market value worth up to 84B in eports (gaming competitions). There is nothing much more better than adding the icing on the cake by giving game-fanatic players the opportunity to earn for doing what they love from the comfort of their PC. The high rise of users in blockchain based games such as axie infinity, sorare and spilterland that are already changing life’s in developing regions such as Asia, Africa, South america etc by providing a source of income above minimum wages. To be honest, am a gamer and it looks like this one is here to stay.

Digital art (76%) — The art industry probably needs no introduction by now. Art has been a very profitable industry for the ultra rich, especially in cutting taxes. The value and nature of the art is based on speculation and believe, not actually on beauty and design and to be honest, it is the closet inclination to what Nfts are - just think about it. Crypto and Nfts only have value because people believe it has value - exactly like art industries. There so, moving into a much more digitalized world whereby it allows free entry into the ecosystem. These means that more speculation could drive prices ever higher. As for why 76%, the fed are really looking in money laundering and tax loopholes which it creates and therefore Leeds to intense regulations by the IRS.

The metaverse(69%) — The talk of the town. But when it comes to Nfts the use case of the metaverse is still not yet defined. With lots of hype and speculation around it with still no definite real world use case, it quite sums up to a potential bubble. Unless you live under a rock, you should definitely know that, “metaverse” trust funds, investment vehicles are throwing huge sum of money( $2m >) to purchase land in particular but “different” metaverse platform like sandbox, decentraland and much more with the hope that users will interact and purchase nfts collectibles, hang out, “enter life concerts” buy digital clothes and for some reason they are putting 10 times the value of land in carlifonia los Angeles, for very little portions of digital land that’s a size of tennis court! As Warren buffet would say; “ be fearful when others are greedy and greedy when others are fearful”

Music/content creation (81%)— A new idea rose up on stage, stating that artist could sell of their music rights(copy & patent rights) as nfts, so as to allow the audience to own royalties and special privillages as a valid holder of the NFTs, whereby the artist receives a percentage on every sale made on the NFTs through fans purchase (usually 20%). The music industry is contageous with a intense desire and passion for their favorite artist, more so to that, its bringing a solution concerning having ‘legal’ ownership of your favorite music. It give the audience a sense of self-worth & pride in displaying their passion for a particular song. Ownership of the worlds most popular songs around the globe will certainly derive demand to feel important with things associated to the artist.

Celebrities digitized property rights(60%) — This has Snoop dog and Jack Dorsey written all over it. Jack Dorsey sold his first tweet as an NFT for a little for a little over $1m and Snoop dog is not so surprisingly building a digital museum to uphold his trophies, awards and achievements for his fans to adore it ‘of course. His planning to sell parts of it as NFTs and these might sound cool and all that but there’s a little issue right here and thats because the market movers in the NFT space are celebrities themselves and many will not find it worth it to purchase virtual stuffs of it fellow celebrity! Thereby, causing demand shortage or a cycle where as other celebrities would create their digital product causing unnecessary supply and reducing the value.

Digitized real world ownership and rights(84%) — NFTs are digital verification of ownership of a particular subject or object on a layer 1 blockchain. Therefore it can and obviously used as a legal verification or right of ownership pegged to a real world assets things like house deed, copy right and royalties can be settled, verified and determined without the need of a third party such as lawyers or escrows, thereby making transfer of real world properties simplified. Normally. these should be 90% (the highest) but to be honest verification can be done on smart contracts blockchains even without NFTs eg (NEO blockchain) an right now NFTs are really being painted a threat to the feds as a tax loophole and for money laundering purposes. bitcoin was once painted black a few years back but now its a very thing an investor dream right now.

Well! I hope all these helps you prepare and speculate a little bit more reasonably on investing in NFTs as the future of internet or blockchain

What did my cousin pick?

Playtoearn 89%

digitalart 76%

Probably because these is is the only use case he knows about when it comes to NFTs (just being honest)

SO! Bye

Disclaimer: These is not financial advise, I am not a financial advisor, pls do your own research (dyor).

Written by meta 3.0 on medium, steemit, reed cash