Blockchain has been flying colours ever since its emergence. One of its great branches is the non-fungible tokens (NFTs) that transform different physical assets to NFTs for acquiring digital ownership and trading. The NFTs are trending due to their uniqueness and immutable traits. Several types of collectibles like artwork, memes, movies, games, music, videos, etc can be made into NFTs. At the present, we are going to discuss a fun element. Yes, it’s about the Memes NFT and Memes NFT Marketplace.
The rise of the pandemic has kept everyone locked in their homes and it has been difficult for people to connect with each other in person for gigs or laughter. Thanks to memes for having people connected digitally and keeping them entertained. They have gained a special corner for most people as they add lots of joy and emotions in the best ways possible. Many celebrities have become famous in recent times due to the same reasons as well. Now integrating memes with the NFTs, consider an artist creating a meme. In general, this meme can be replicated and shared with many people.
If the artist creates a digital record of the original, then they can claim all the attributes of uniqueness, scarcity, and proof of ownership that undergirds commerce in the real world. Isn’t this amusing? This is where the idea of blockchain comes into existence, and the technology that anchors decentralized currencies is used to affirm the reliability of digital assets with memes. The worth of the NFT is procured of the sale by the depicted, not the creator.
Some images and video snippets have risen to international comedy fame after being online for amusement. It is more like a digital autograph from the meme creator, certifying authenticity. An NFT is essentially a digital code recorded on a blockchain ledger. Anyone can see who is digitally authorized to sell a particular item as a non-fungible token on an online NFT marketplace.
Statista on recent Meme NFTs
To give some current examples, Craven and Morris are meme personalities who recently cashed in on their meme fame via an NFT sale. Chris Torres, the creator of the famous meme Nyan Cat, is not a depiction of himself but a short cartoon video clip of a fly launched a series of successful meme NFT auctions. He sold Nyan Cat for about 300 units of the cryptocurrency Ethereum, which comes to nearly $516,000 at the auction. The “Overly Attached Girlfriend” NFT brought in almost as much at approximately $460,000, while “Bad Luck Brian” wasn’t as lucky and only brought home around $45,500. The other meme that made great bucks is the Disaster Girl, Zoë Roth, who secured $500.000 Ethereum when she sold her iconic image where she’s eying a camera as a house burns as an NFT.
Further, Doge NFT sold for a massive chunk of change. In June 2021, it sold for a record-breaking $4 million worth of Ethereum. An image of a Shiba Inu named “Kabosu ” was taken back in 2010, and it has been scaped through the internet.
The NFT staking through is Memes is an effective deal as here, the users get a chance to attain a limited edition of NFTs, which are owned by some of the famous artists of the Ethereum space. There is a limit of staking as no user can stake more than $5 meme tokens at a particular time.
NFT for Memes Benefits
There are multiple benefits of the NFTs by which users can monetize much, and they comprise the following.
- Value Addition – It adds special worthiness to the distinct NFTs
- Social Influence – Aids influencers to personalize their memes
- Rewards – The users can obtain valuable bonuses based on the meme’s distinctiveness.
- Cashflow – Provides instant liquidity.
- Steady investments can be availed when using digital collectibles.
- Visibility – There are chances to gain prominence in the market space.
What is the future of NFT Memes?
Driving down the road, meme NFT development can be seen on two sides as the success of NFTs will depend on the success of cryptocurrencies. The fact is that the technology that anchors the digital currency also handles the creation of digital assets. There is a booming of NFTs among artists, sportspersons, and collectors, with one tracker saying that the total 2021 sales volume of such assets stands at USD 13.2 billion.
The person who shot a 6 million dollar fund, Andrew Steinwold, mentioned that the NFTs represent the future of digital ownership. Since users are investing most of their time on digital technology, it makes sense to add property rights to the mix now, and we have the emergence of the metaverse as a surprise.
Overall the characteristic attributes of NFTs, in general, makes us believe that the future for meme enthusiasts is robust. The non-fungible tokens are indivisible. Once the project is established, they cannot be segregated into pieces and hold an automated listing to initiate several marketplaces. Secondly, the NFTs are scarce and can’t be interchanged. Their scalability is high, and in addition, the tokens are interoperable for users to buy NFTs in various market spaces.