In 2021, many people famously made millions investing in NFTs. As prices are down considerably, now could be a good time to learn how to buy and sell NFT collectibles. In this post, we will discuss what’s next for this industry and how to make money with NFT art and gaming assets.
Pranksy turning a $600 collection into $20 million, and more NFT stats
2021 was undoubtedly the year of NFTs as the trading volume on the leading NFT marketplaces grew 43,000% year-on-year to reach $13 billion, as reported by The Block. Famous people, from Melania Trump to Snoop Dogg, learned how to invest in NFT’s and even started their own collections.
Those collectors who understood how to choose the best NFTs to invest in earned massive ROIs. For example, the Twitter user known as Pranksy initially bought NFT artworks worth $600, and by the start of 2021 the value of his NFT investments reached $9 million.
Very respectable companies got into the NFT business: for instance, the legendary Sotheby’s auction house reported $100 million in revenue from NFT assets and even decided to create an NFT trading platform of its own, known as Sotheby’s Metaverse.
What can we expect from this market in 2022? Slava Mikhalkin, co-founder of Liquidifty (one of the best places to buy NFTs for gaming and the metaverse), comments:
‘Right now is a great time to build a portfolio without spending too much money: NFT collectibles at today’s prices are a steal, thanks to the BTC correction. I’m confident that NFT marketplace volumes will bounce back faster than anyone expects, and those who delay too long will be left on the sidelines.”
What’s the best NFT marketplace?
You must have heard of OpenSea, the first NFT marketplace that dominates the industry in terms of volume. And yet, OpenSea may not be the best NFT platform for a beginner, for a few reasons:
- OpenSea supports only Ethereum, Polygon, Klaytn and (to a smaller extent) Solana. Notably, it doesn’t support BSC (Binance Smart Chain), which powers the biggest NFT-based gaming projects.
- Most of the trending collections on the OpenSea NFT marketplace are too expensive for most beginners to buy into, with floor prices starting from $1000.
- The majority of collections run on Ethereum, which means that you’ll have to pay up to $50 or more to mint an NFT.
A very attractive alternative to OpenSea is Liquidifty, one of the best NFT marketplaces where to sell NFTs for gaming and metaverse assets on BSC. The platform features assets from dozens of exciting games, such as Drunk Robots, Chain of Legends, and Cyber City.
Apart from gaming collections, Liquidifty features a separate Art section and even a virtual LQT exhibition space with works by emerging digital artists selected by the platform’s team. If you are an artist and wonder how to sell an NFT artwork at the best terms, you should definitely explore Liquidifty.
But Liquidifty isn’t just one of the best marketplaces for gaming NFT collections and artists: it’s also an IDO launchpad with a focus on curated Play-to-Earn games and metaverse projects. All you need to get guaranteed allocations to the best gaming IDOs is buy a Launchpad pass (Gas, Liquid, or Solid).
Launchpad pass holders are eligible for frequent airdrops – something that makes Liquidifty stand out among other NFT marketplaces. If you are interested in how to make money from NFT assets, an airdrop is possibly the easiest option: if you win an NFT, you can immediately list it for sale.
What will happen in the NFT market in 2022 and beyond?
In just a year, the sales volume across all NFT marketplaces skyrocketed from $100 million to $22 billion – an incredible 220x increase. And this is not the limit: according to a recent report by Non-Fungible, the industry will keep growing at a CAGR of 40% to reach $82 billion by 2026.
Art, music, videos, but especially gaming and the emerging metaverse industry – all these markets will be defined and transformed by NFTs in the coming years.
Play-to-earn NFT gaming, in particular, is expected to grow to at least $3.6 billion by 2028.
Under these conditions, joining the NFT market while it’s still early can be a wise decision.
Start small, choose a few NFTs on a safe NFT marketplace, such as Liquidifty, and build your first little portfolio. Prices may soar or dump in the short term, but the long-term trend is decidedly up.
*Not financial advice
Source: Plato Data Intelligence: PlatoData.io