How India is adapting to the digital revolution wave, NFTs are creating.
Role of NFT in India
In case you’ve ended up in the middle of a conversation completely clueless as to why people are relentlessly talking about NFTs and cryptocurrencies, this blog is your introduction to the world of NFTs, and how they are making strides in the realm of digital trading, so you can join in on the conversation and possibly make money on the side.
What seems to be the new craze all of a sudden with the surge in the NFTs? and why now?
NFTs have been around for quite some time, and it’s only during recent times that they have peaked in their presence and use cases. Though they may seem daunting at first, it is fairly an easy concept to grasp, and you need to have an eye to look out for the rise and fall in the NFTs to make it, just like any trading done in the traditional sense of the word.
What are NFTs?
- NFTs are non-fungible tokens that are a byproduct of cryptocurrency, but unlike a cryptocurrency being fungible, they are non-fungible. It means one token is not mutually exclusive in value to the next, making it its unique beast that functions and operates separately from how a classic trade works.
- They are tokenized digital items of any physically tangible object or any digital object that can be owned over the authenticating copy of its receipt.
- NFTs are also rare and unique in the sense that only one person in the whole world can own their purchased NFT and no one else. This use case is now being redefined into authenticating one’s identity and certification of proof through digital formats rather than hard copies of their proof of identities.
NFTs role in India
- There came the point in time where the world was no longer bound or separated by just physical and geographical barriers but connected by the internet. The world became much more accessible and small. This makes it possible for growth to jump leaps and bounds from the effort of every person responsible for its change, such as the development in the world of technology. Especially the world of cryptocurrency and online trading.
- This even playing field made it possible for investors all around the globe to make their mark and flourish.
- The impact it had on the Indian economy is something to take note of, and it still continues to grow for the better.
- The introduction of NFTs makes it possible for talent from India to get their start and well-deserved recognition. It is an economic booster.
- This is special, especially in these times of dire need for artists to get their art displayed or featured; the internet is one of the saving graces that has helped them regain their confidence and reignite their love for the arts.
- This comes in handy for a much larger audience to get on board and explore the option of possibly making it.
- What entails an NFT is being defined by the minute because there is a new introduction of what a token is, and what all can be tokenized is changing by the minute.
Celebrities and internet personalities who are joining the revolution
- Celebrities in India are trailblazing the sector’s growth and popularity by selling their art and memorabilia.
- Some of your favorite personalities that have made it in the world of NFT are Amitabh Bachchan, Manish Malhotra, Sunny Leone, Kamal Hassan.
- And a few of your sports personalities such as Dinesh Karthick, Sunil Gavaskar, who are jumping on board the “NFTtrain”
How creatives in India could get their start in NFTs
- NFTs are money-making beasts. Creators who want an outlet to express themselves and make it so that they succeed need help.
- Take, for example, the rare Indian launch of Amitabh’s NFTs, they made news with the whooping sale of eight crores from the auction, and it was made possible from a no-code launchpad platform some provide.
- GuardianLink is one such entity that makes it easy for creators to launch and set up their own marketplace and wallets so that they can make money and make it without too much struggle. And they are the brains behind Amitabh’s NFTs.
- This is in response to creators who had no knowledge of the world of online trading and its technical aspect of it. This was a safe haven that provided the much-needed guidance and evened the playing field for all creatives alike.
- Now making your mark in the world of NFTs is so easy and accessible due to sites like GuardianLink.
- Their impact in the market is the guidebook and a reference model for others to follow suit and make their own mark.
- These instant NFT launchpads can be much used to your advantage, and you can exploit all the intricacies of NFTs without having to set it up from its inception code.
Why you should make use of the platform as a developing or established artist
NFTs are the new form of trading. Even though its potential and possibilities aren’t explored to their fullest potential yet, it’s something to look forward to, and it’s all the more reason for you to participate and reap the benefits.
NFT as a business and an online trade alternative in India seems promising with its numbers and popularity. This would mean it is here for the long game, and it’s a breeding ground for fresh blood to make it in this sector.