Online, space is ever-expanding. People are creating new areas on web, pushing the digital frontier ever farther into the ether. Non-fungible tokens or NFTs are slowly going mainstream. We cannot unseen their growing popularity they selling a million of dollars today.
These digital assets exist on a blockchain kept on networked computers. Supporters view NFTs as the next big phase in the art collection. However, many people find it difficult to grasp what NFTs actually mean. They wonder why so much money is invested in an artwork that is present only in a digital form.
Are NFTs Part Of The Future of Finance?
NFTs currently are being used as a means of investments. Their value fluctuates on demand of the item. People buy, trade, and sell NFTs as they would stocks in the stock market, but that won’t always be the case.
Is This The Future of Digital-Asset Investing?
There are many different avenues for brands to explore the blockchain and NFTs. Blockchain-backed worlds are ripe for opportunity. Now is the time to build the structures to support NFTs and find your brand’s next audience on the decentralized web.
How big is this market?
Bigger than you may think. The NFT market grew by 299% in 2020 with sales in the first quarter of 2021 soaring to more than $2 billion and it’s shown no signs of slowing. Auction houses are already getting in on the NFT craze and NFT-related stocks have been on the rise.
Can anyone make an NFT?
If you’ve got this far, you might be wondering. Can I make an NFT? Technically. anyone can create a piece of art turn in an NFT on the blockchain (a process called “minting”) and put it up for sale on a marketplace of choice. You can even attach a commission to the file, which will pay you every time someone buys the piece through resale.
Much like when buying NFTs, you need to have a wallet set up, and it needs to be stuffed full of cryptocurrency. It’s this requirement for money upfront that causes the complications.
VUUZLE MEDIA CORP LIMITED, SOON TO LAUNCH ITS OWN NFT MINTING PLATFORM & MARKETPLACE
Carrying the purpose of staying relevant in the field, Vuuzle Media Corp is now headed in the right direction. The company is currently working with a huge international team in launching its own NFTs through its official coin, VUCO.
NFT’S MARKET POTENTIAL
Although they’ve been around since 2014, NFTs are gaining notoriety now because they are becoming an increasingly popular way to buy and sell digital artwork. A staggering $174 million has been spent on NFTs since November 2017.
This stands in stark contrast to most digital creations, which are almost always infinite in supply. Hypothetically, cutting off the supply should raise the value of a given asset, assuming it’s in demand.
HOW WOULD VUUZLE’S NFT MARKETPLACE MAKE MONEY?
As a marketplace for NFTs (non-fungible tokens), rare digital items, and crypto collectibles, Vuuzle’s marketplace will rely on fees collected from successful transactions for making money. For example, from the seller’s perspective, the fee is 2.5%. This means that if you sell to someone for 100 ETH worth of an NFT, you would keep 97.5 ETH, and Vuuzle would keep 2.5 ETH (2.5%).
The simplest way to understand howour soon-to-be marketplace will make money is, think of it as the escrow service for blockchain collectibles.
Our platform will be free to use by the buyers of NFTs. Sellers of NFTs pay a certain percentage of commission on any sales made through the Vuuzle’s marketplace.
VUUZLE’S NFT MARKETPLACE: BUSINESS MODEL
Vuuzle’s marketplace is visioned to make money on the sale of NFTs through its system. An NFT is a digital certificate of ownership that is non-duplicable. It is a “smart” contract created using open-source code.
Once the code is written, it is “minted” as a permanently published token added to the Ethereum blockchain (ERC 721 or ERC 1155).
The business model for Vuuzle is straightforward and fair. The platform takes a certain percentage fee of each transaction that happens, helping the platform grow along with the NFT economy. This business model helps in bringing together blockchain gaming enthusiasts, NFT creators, and crypto investors on one platform.
HOW MUCH MONEY ARE WE TALKING ABOUT?
The fees projected to be earned by Vuuzle can go up dramatically, hitting around $200,000 for each month through the end of 2021 to the first quarter of 2022.
By rough estimates, Vuuzle will probably achieve huge mark-up profitability, to exceed in the collection of more than $35 million in fees with continually growing revenues.