NFTs are the latest hot button topic in the digital space. However, many people are confused about what they are and what the deal is with them? Plus how are influencers benefiting from NFTs and which influencers are important to watch? If you want to get the inside scoop on influencer NFTs this is the article for you.
Let’s start with the basics, what are NFTs?
What are NFTs?
NFT stands for “Non-fungible Tokens” and they are a new form of ownership over digital assets.
NFTs are defined as “Non-fungible tokens or NFTs are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other. Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency.”
Basically, this means that these are online items that can be traded for varying amounts depending on subjective value rather than a defined value like a cryptocurrency. Each NFT is a separate item.
If you compare it to the art world, each NFT is like a unique painting, it is its own object and it possesses a unique value. Just like real art NFTs are difficult to assign a specific value to, because there are so many different factors that affect it.
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Important NFT Basics
- NFTs are unique cryptographic tokens that exist on a blockchain and cannot be replicated.
- NFTs can be used to represent real-world items like artwork and real-estate.
- “Tokenizing” these real-world tangible assets allows them to be bought, sold, and traded more efficiently while reducing the probability of fraud.
Are NFTs Cryptocurrency?
Basically, just like real money, cryptocurrencies are fungible, which means that they can be traded or exchanged.
Bitcoin is always equal in value to another Bitcoin, and a single unit of Ether is always equal to another unit. This fungibility characteristic makes cryptocurrencies suitable for use as a secure medium of transaction in the digital economy.
NFTs are different from cryptocurrency because they are all different in value, and this makes it impossible for one NFT to be equal to another. So NFTs are a type of tradable digital asset that is not a currency but is still a way to transfer value.
What Gives an NFT Value?
“Blockchain technology does not only offer the ability to establish scarcity for digital content but also has the potential to unlock other exciting social mechanics that artists can experiment with while reaching new global audiences directly without needing to cross physical borders and other barriers”
Misha Libman, Co-founder at Snark.art
One of the main reasons NFTs have value is their uniqueness. Whatever the NFT is representing creates the value whether it is a digital painting, a video, or an audio file.
Also, a creator that makes an NFT can decide what it will be and how many copies will be available. For example, just like the first printing of a physical book can count as a First Edition, only the first minting of an NFT counts as a Digital First Edition, and that adds to the value.
In many cases, there will only ever be a single copy of an NFT, a genuinely unique item. There is only one Starry Night Painting, but thousands of prints, you can only have one original work of digital art, even if people make screenshots and digital copies.
What are Influencer NFTs?
Influencer NFTs are digital assets that are created and promoted by influencers, and these influencers come from all platforms like Instagram, Tik Tok, Youtube, Quora, and more. These assets often get their value from the notoriety and audience of the influencer. Influencers are in a perfect position to create and profit off of NFTs because they are often digital creators and they have a built in market of their followers.
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Who Benefits from NFTs?
As a creator you can now monetize your platform in more ways than ever before with NFTs and you can learn and watch case studies from other influencers that are paving the way. If you are interested in NFTs as an investment you can find success by analyzing the influencer opportunities on the market to grab unique opportunities!
Who are the Top Influencers in the NFT space?
Gary Vaynerchuk
Twitter: @garyvee 2.8M Followers
GaryVee is an extremely popular influencer who creates content regarding business and self help. He is one of the most iconic influencers of our generation and just launched his own NFT platform, VeeFriends. His YouTube channel talks about NFTs being the future of intellectual property rights and the creator economy. He also sells many of his own unique drawings as NFTs.
Meet Dave
Twitter: @meet_daveYT
There are not many YouTube influencers specifically focused on the NFT space. Luckily, Meet Dave is here to fill the role of a dedicated NFT influencer who takes a look at the economic side of NFTs like art futures and the benefits of specific marketplaces. This is a great creator to follow to get an educational look at NFTs.
NFT Times
Twitter: @MrFungible 7,428 Followers
Mr.Fungible from NFT Times, wants to spread the word about NFTs and guide you in your entry into the NFT space. He goes through the biggest news of the week, such as Mr.Beast and Tom Brady joining the NFT race. If you’re looking for new opportunities to invest, or want to make safe, smart trades, it wouldn’t hurt to give Mr. Fungible a visit.
OpenNFT
Twitter: @OpenNFT 6,304 Followers
OpenNFT makes content that puts you on the edge of your seat. Not only does he have tutorials and how-tos for people interested in the space, but he also performs live opening of NFT packs like TopShot. If you want to see some live action NFT mining, analysis of products like CryptoZombies, or simply trying to learn about the space, OpenNFT is a great place to start.
Art NFT Influencers:
ArtChick
@digitalartchick 131.9K twitter followers
The pseudonymous account has become an icon in the art sphere of NFTs. Twitter itself used Artchick’s tweet to publicize its NFT drop in June! She is a powerful and rising voice in the world of NFT collecting, known for calling attention to female creators, collectors, and crypto-comrades.
Gmoney
Twitter: @gmoneyNFT 163.8K followers
Puerto Rico-based Gmoney has partnered with investment firm Delphi Digital for Delphi INFINFT, a fund dedicated to investing in NFT projects. He’s a big supporter of generative art project Art Blocks, and an investor in the futuristic $10 million projects Alethea.AI, which is working to create “intelligent NFTs” that will reside in the future metaverse. Earlier this month, the Adidas Originals NFTs that were designed in partnership with Bored Ape Yacht Club, GMoney, and Pixel Vault took in $23 million in their first 24 hours.
NFT Influencers Takeaways
We are used to handling physical assets however as the digital world continues to become more prominent, digital assets are legitimately the next big thing. From work that originates from influencers to artists and more, NFTs gives a clear and unique identity to all digital assets and allow them to be traded and moved around easily.
Basically, in this new age of digital currencies, it is essential to stay up to date with the latest developments and the best way to do that is to follow relevant industry influencers. You can find relevant influencers to your niche on blogs, social channels, and even in Accessily Shoutouts.
When you see influencers in your space taking moves in the NFT space you can decide whether the opportunity is right for you. There is a lot of benefit to both influencers and investors to follow the NFT space and the best way to get involved is to pay attention! As long as you do research and identify value in the NFTs that influencers promote, you can follow your instincts and be successful!