NFTs are changing everything—INCLUDING Blockchain—and if you want to be able to profit, you have to be able to shift focus at the drop of a hat.
Fast and furious…
That is the best way to describe the Blockchain industry.
It moves fast.
The market could be soaring one minute and dropping the next, doing so in big enough increments to make a billionaire’s head spin.
It’s also furious in the sense that it’s unstoppable. This technology is growing so large that there soon won’t be a single area of our lives that it doesn’t touch.
That being the case, you have to be ready to move—and move with a quickness—when things start going south.
You also need to be able to switch directions when the situation calls for it. The market is changing so quickly that what’s working today may not be what’s working tomorrow.
With the emergence of the Metaverse and everything that it entails, Blockchain isn’t just for cryptos anymore. There are going to be a LOT of opportunities for investors who know what they’re looking for.
The Market Is Changing
Now, there’s no doubt that 2021 was the year of the NFT (Non-Fungible Token). Over the last 12 months, we’ve seen more than $10 billion poured into these Blockchain exclusives.
However, for the moment, experts can’t really tell if there’s a lot of room to grow in the space.
The Metaverse will open up more opportunities, for sure, but for anyone who isn’t a big-name digital artist, the big money has already been made for the time being.
Once the Metaverse becomes more broadly accepted and patronized, NFTs will make sense as a valuable commodity and we’ll more than likely see a whole new wave of wealth dropped on these digital possessions.
So, for now, some companies in the niche are starting to change directions in order to keep that money rolling in.
One such company is Dapper Labs, the creator of one of 2021’s biggest NFT drops, NBA Top Shot.
NBA Top Shots are what some call the next evolution of trading cards. However, instead of a cardboard picture, Top Shots are video clips of famous players exclusively owned by the buyer.
For example, the Lebron James Dunk Top Shot features the player dunking on the Houston Rockets, and it’s in EXTREMELY high demand with EXTREMELY limited quantity. One version of this clip sells for more than $200,000.
Yeah, that’s hard for me to wrap my head around too…but we’d better get used to it because this is the way of the future.
In a partnership with NFT startup Genies, Top Shot is creating an NFT “storefront” that will allow users to create animated avatars and outfit them with crypto accessories.
Customizing Your NFT: A Bold New Direction
The new platform, called “The Warehouse,” will allow users to outfit 3D cartoon avatars that they create inside the Genies app with masks, shoes, backpacks, and other digital accessories. Once the character is created, it is then “minted” (which basically means “changed into an NFT”) on Dapper’s blockchain network called Flow.
Genies tells us that the majority of items in the store will be sold for less than $20. However, that price point is just for primary sales.
Like with all free markets, it’ll be the owners of those goods that will decide the market for secondary sales of individual items.
However, for the launch (which took place on December 13th), the secondary market won’t be enabled. That’ll give the NFT community some time to get familiar with the product rather than just worry about grabbing those quick resale bucks.
And that’s how you pivot; you go from selling NFT’s to joining forces with a company to individualize NFTs in order to keep the revenue flowing in.
It’s a genius move, if not a natural one.
Dapper Labs seems to understand that the potential for creating wealth is through the roof with these things, and being the first is way better than being the second.
I’m hopeful that it works out because this could be good for ALL of us.
Just another piece of the Blockchain puzzle, right?
We may not be starting to see the whole picture yet, but some sections are starting to be clear as day.
Can’t wait to see where it leads us…
“Failure doesn’t exist. It’s only a change of direction.” – Alejandro Jodorowsky