The business idea of NFT (Non-Fungible Token) is an attractive option for those who have artwork and want to sell it more easily and at a higher pri
NFT is a digital asset that exists on the blockchain. Blockchain itself functions as a public ledger, which allows anyone to verify the authenticity and ownership of assets.
NFT can be purchased at a high price due to several factors. The first is because NFT has historical value. Even Twitter CEO Jack Dorsey once sold his first tweet as an NFT to reach 2,915,835.47 US dollars or equivalent to Rp41 billion.
Second, NFTs are made by people who have influence, have credibility and are well known. For example, digital artist Beeple, his NFT work, Everydays: The First 5000 Days sold for $69 at Christie's.
Third, NFT has a strong sense or strong story telling.
In Indonesia, a painting belonging to the intellectual entrepreneur Denny JA entitled 'A Portrait of Denny JA: 40 Years in the World of Ideas' sold for IDR 1 billion.
The painting has been auctioned for a week at Opensea, one of the world's largest auction sites for NFT digital works. His tweets also sold for around Rp. 100 million.
This tweet was made in 2015 in English and reads “Share our love by stopping discrimination in Indonesia and in the world. RT if you agree.
7 NFT Business Ideas That Bring Money
1. Create NFT Forum
One of the business ideas for NFT is to create an NFT forum to discuss the projects of NFT sellers, makers and enthusiasts. It can also be a space for you and then creating an NFT exclusive forum that rivals bitcointalk can be a lucrative business, especially if you also run banner ads.
2. Write an NFT Themed Blog
Writing a blog can also be an NFT business idea. This website that you have can be a place to write articles about NFT.
Create interesting content about NFT with informative. So there is a huge readership potential for any blog covering NFT and news about NFT.
You can even monetize your blog with ads after growing your particular readership.
3. Become an NFT Artist
Even if you're not the smartest physical artist in the world, there's nothing stopping you from producing digital art, even if it's abstract.
Then, you can convert your art into NFT and market it on popular forums like Reddit, DeviantArt, or Wetcanvas. It's very clear if being an artist can be an NFT business idea,
4. Launching NFT Applications
Another NFT business idea is to create applications for buying and selling, trading, and printing NFTs that are likely to be of great interest.
An app that mimics Bid Beacon or BiddingOwl, but only focuses on the NFT market can also be a lucrative project especially if you take a commission on every sale.
5. Create NFT Collections
As a digital medium, NFT is suitable for preserving and authenticating collections. For example, you can print NFTs of original collectibles, such as sports trading cards or autographed photos.
6. Create a White Label NFT Service
The NFT market requires services like Shopify that can bring projects to life with little or no additional development.
If you can launch a ready-made NFT service to help grow your NFT business, you can become one of the most popular white label platforms in the blockchain industry.
7. Create an NFT Online Course
The next NFT business idea is to create an online-based NFT course or master class. This course can help get newcomers up to speed.
You can also charge participants for a week's bootcamp or a semester's course. Of course this depends on your own level of expertise and investment.
Plus Minus NFT
as a Digital Asset Each NFT has its own uniqueness and is different from other NFTs. Good property, even about the value.
Because each NFT is assigned a digital hash that distinguishes it from other NFTs. Rare NFTs can be used in collectibles and art. Even NFT is already used in greeting cards and goods.
In addition, the NFT will also not change because the tokens cannot be exchanged on a blockchain based basis. So that NFT can never be changed, deleted or even replaced.
Its rarity also adds value that only the developer can determine.
The developer can generate an unlimited number of non-fungible tokens and renew tokens frequently to keep interest high.
The blockchain technology which is non-exchangeable means that you have to be sure that your NFT is valid.
NFT can also include smart contracts. Smart contracts are another interesting feature of blockchain technology. Because basically, they can store instructions that are executed when certain conditions are met.
While the weakness of NFT as a digital asset, among others, is the level of liquidity. Because anyone who buys NFT may not necessarily be able to resell it.
Second, overspeculation, because it is non-fungible. So it is prone to overspeculation.
Because people set the price qualitatively not quantitatively. Third, it is still vulnerable to digital piracy or artist identity theft.
This is because there is no mechanism to handle this. Even the storage problem is only stored in the wallet in the marketplace.
There is no decentralized NFT storage mechanism yet.
