Can NFTs Give You Profits In A Bear Market?

Since 2009 and the creation of Bitcoin, cryptocurrencies have continued to grow in popularity globally. The global adoption of these digital assets has continued to rise as its value plummets. Crypto enthusiasts and users can now use cryptocurrencies like Bitcoin to pay for goods and services. However, that growth and popularity have remained progressive and have birthed many more cryptocurrencies. This is not strange, as non-Blockchain entities have grown interested in Blockchain and cryptocurrencies. One of such digital assets is Non-fungible tokens (NFTs). The NFT market is relatively small, but the popularity of NFTs has been on an upward trajectory recently. In this article, we will try to know if traders can earn profits from NFTs during a bear market.

What Are NFTs?

NFTs are unique and distinguishable cryptographic assets found on a Blockchain. An NFT can also be described as a non-interchangeable data unit and digital ledger usually found on a Blockchain. While cryptocurrencies are assets that can be used as a medium of exchange, NFTS are non-identical and uniquely different. NFTs cannot be traded or exchanged like cryptocurrencies. NFTs are very distinct, and the creation of each NFT represents physical assets like art pieces and real estate. The presence of NFTs on the Blockchain means that they do not require intermediaries in their transactions.

NFT creators and traders are afforded a smooth transaction process via Blockchain without third-party interference. NFTs are already making transactions seamless between users despite being a new market. NFTs data units are usually digital files, including videos, audio, and pictures. It is also worthy to note that, like regular cryptocurrencies, NFTs contain ownership details. Possession of ownership details makes it easy to identify and transfer ownership from one user to another quickly.

How Does NFT Work?

NFTs are digital assets like cryptocurrencies, but they differ slightly in characteristics. Like fiat money like USD, cryptocurrencies are fungible and can be traded or exchanged. This means that the value of one Bitcoin is the same everywhere, just as the value of a USD everywhere. However, for NFTs, that is not the case. NFTs are unique and unparallel, making it difficult to equate one value to another. Each token contains a unique and non-transferable property that cannot be shared or possessed by another. This is why the price, value, characteristics, and properties of one NFT can never be equal to another.

Surprisingly, despite being unique, NFTs are extensible. This means that one can combine two different NFTs to produce a third unique NFT. NFTs are primarily found in the ERC-721 format. The ERC-721 format is unique and was developed by the engineers of the ERC-20 smart contract. One of the most famous examples of NFTs is the cryptokitties, which was launched in November 2017. Cryptokitties were a digital representation of cats found on Ethereum Blockchain and valued in Ether. The project amassed more than $20 million in 3 weeks, as investors took a keen interest in the NFT project.

Why You Should Buy NFTs In Bear Market

NFTs are a unique form of cryptocurrencies and are also volatile assets. Volatility in this instance means that their prices are not the same at every given time. However, like cryptocurrencies in a bear market, crypto analysts advise that NFT should be purchased in a bear market. There is no doubt that bear markets are usually associated with fear of the future or the unknown. Cryptocurrencies like Bitcoin and Ethereum have entered the bear markets in the past years, which also follows bull run.

However, with NFTs, their value is known to plummet in a short period or in the nearest future. Fortunately, many NFTs have proven to exceed expectations after the bear market, with investors making huge returns on their assets. Alternatively, the value of NFTs has also continued to be on the rise as the burgeoning market continues to grow. This trend implies that the best time for investors to get into NFTs is to invest in a bear market. The low risk and prices associated with a bear market implies that, should the asset collapse, losses will be low.

Top Three Marketplace To Buy NFT

NFTs continue to attract potential and existing crypto investors as the unique token market continues to boom. However, listed below are three of the best places where NFTs can be purchased:

Opensea

Founded by Devin Finzer and Alex Atallah, Opensea is a top place for NFT users to conduct their business. The Ethereum-based digital marketplace offers buyers an unfathomable collection list, providing creators with huge revenues. Currently boasting over 80 million NFTs and accepting more than 150 different tokens, Opensea is a global NFT giant. The digital marketplace boasts high trading volumes compared to others, and provides consumers with access to create and trade freely. Since it is built on the Ethereum chain, its number one currency is Ether.

FTX

Founded by investor-billionaire Sam Bankman-Fried, FTX remains one of the world’s leading crypto exchanges. However, the Cross-Platform digital NFT marketplace of the Blockchain empire is currently making waves in the space. The marketplace allows users to create and mint their own NFTS, which can be sold or traded. The NFT marketplace is unique as users from Ethereum and Solana Blockchain can successfully trade their NFTs. Creators are the biggest beneficiaries of FTX, as their NFTs can reach a wider audience.

Rarible

Also built on Ethereum Blockchain, Rarible remains one of the leading pioneers of the NFT space. Its marketplace was one of the first globally and offers users easy minting and trading opportunities. The digital marketplace boasts a user-friendly interface and is known to incorporate even novices into the world of NFTs. Crypto analysts usually advise NFT newbies to trade on Raribles, as their bespoke service makes it easy to understand NFTs. Unfortunately, one of the limitations of Rarible is that it can only complete transactions with the rarible token (RARI).

Conclusion

NFTs are unique crypto tokens and assets with no equal value and are found on the Blockchain. The uniqueness and unparallel nature of the digital assets make it impossible to equate one value to another. They are better purchased in a bear market, as their value is known to rise in the future. Opensea, FTX, and Rariblles are the best digital marketplaces to trade NFTs.

Bear
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Top 3 NFT Collections With The Most Trading Volume Ever

NFTs have increased in popularity over the last year. More and more collections are entering the market and celebs are embarking on NFTs too. NFTs are now mainstream. This post is all about the top 3 NFT collections that have the most trading volume.

Top 3 NFT Collections: Bored Ape Yacht Club

Images of monkeys are always among the most widespread NFTs on the market. Probably the most notable collection of monkey images is the Bored Ape Yacht Club. It is a pack of 10,000 images of bored monkeys. 

This NFT collection was launched in April 2021 via the OpenSea trading platform. The monkeys have a tally of 170 unique features that range in rarity. With a 7-day volume of 15,277 ETH, the Bored Ape Yacht Club is the top NFT collection.

Top 3 NFT Collections: Mutant Ape Yacht Club

The next NFT collection with a 7-day volume of 10,918 ETH is another collection of monkey images called the Mutant Ape Yacht Club. The Mutant Apes have been deemed as an additional advanced form of the Bored Apes and can also be discovered in the collection on OpenSea. Visit OpenSea to see the unique NFT collections!

The Mutant Ape Yacht Club contains 20,000 unique images. It belongs to the so-called pedigree of the Bored Ape Yacht Club. In addition to the Mutant Ape Yacht Club, the Bored Ape Chemistry Club and the Bored Ape Kennel Club are also the characteristics of the family tree.

Top 3 NFT Collections: The Sandbox

The Sandbox was one of the most famous blockchain games in 2021. In the Sandbox Metaverse, there is a map of up to 166,464 LANDS. The landlords can begin events and contests on their LAND, stake the SAND token, and layout assets separately. The Sandbox collection on OpenSea has a 7-day volume of 4,713 ETH, making it the most popular NFT collection.

Top 3 NFT Collections
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Top 10 Upcoming NFT Sales

NFTs, or non-fungible tokens, are bursting into the market. Many are still speculating on whether this is just a momentary craze or a unique mainstay. This post is all about the top 10 upcoming NFT sales. Let’s take a look at it in more detail.

1.Top 10 Upcoming NFT Sales: SolDrinks

SolDrinks Lounge is a pack of 4,444 outstanding mocktail drinks built on the Solana Network. The idea is to decrease mental and bodily health problems due to alcohol misuse. The project desires to build a cool virtual lounge bar. The mint price is 0.15 SOL (Pre-Sale) 0.2 SOL (Public Sale). The sale will start on 8/1/2022. The important links are given below:

2.Top 10 Upcoming NFT Sales: Crypto Cube 2059

According to its website, it is a refined Crypto Cube project living in the year 2059 established on the remarkable technology of the Solana Blockchain. This collection presents the chance to find private, attractive, and algorithmically developed NFTs. Each of them has outstanding spontaneous features developed from numerous potential varieties. The sale will start on 9/1/2022 and the price is 1 SOL (Public Sale). The important links are given below: 

3.Top 10 Upcoming NFT Sales: BloobzVsBlobz

According to its website, BloobzVSBlobz is the battle-verse NFT approach based on the Cardano blockchain. There are 5,000 striking bloobz and 5,000 special blobz that both despise each other held by users. The two sections living in BlubWorld will contest to become the top Bloob or Blob via various periodic features that will lead to the “power level”. The sale will start on 10/1/2022 and the price is 50 ADA (Public Sale). The important links are given below:

4.Top 10 Upcoming NFT Sales: Punkapes “Treasure Hunt”

The Punkapes is a fantastic virtual jewel hunt! Each Punkape from the “Treasure Hunt” collection includes a secret message for the users! Users have to decipher the puzzles, unlock the 7 chests, uncover the solution word and engage in the great raffle. It is based on the Polygon blockchain. Users can win up to 60.000 USD! Each of the 10,000 Punkapes has been erratically developed for users from 16 features. According to its website, the sale of the Punkapes from the ” Treasure Hunt ” collection will begin on 15/01/2022 at 12:00 UTC and the price is 0.03 ETH (Public Sale). The important links are given below: 

5.Top 10 Upcoming NFT Sales: EsportsPro Champions Club

EsportsPro is completely keen on its release of willy-nilly yielded 10,000 NFTs. The goal of EsportsPro Championship Club is for Athletes, Entrepreneurs, HODLers, Influencers, and Gamers. It is based on the Polygon blockchain. In addition, each champions club’s features will have an exceptional perspective of their aspects. The sale will start on 24/1/2022 and the price is Pre-sale: 200 MATIC Public Sale: 300 MATIC. The important links are given below:

6.Top 10 Upcoming NFT Sales: Rich Apez Metaverse

Rich Apez is a Metaverse-based competition where users will be able to walk, race secured cards, purchase land, swap out skins, high-end amenity garments, and even generate own ape! It is based on the Ethereum blockchain. The Rich Apez NFT collection is of 9,969 totally distinctive NFT’s that will multiply as an all-access key to the Rich Apez Metaverse. The sale will start on 9/1/2022 and the price is 0.09 ETH. The important links are given below:

7.Top 10 Upcoming NFT Sales: Cranky Critters

According to its website, It is an NFT project with ‍6,000 haphazardly created NFTs on the Ethereum blockchain. These Critters have had the most rotten day and are about to thoroughly reverse out. The sale will start on 10/1/2022 and the price is 0.06 ETH. The important links are given below:

8.Top 10 Upcoming NFT Sales: Mythology Apes Club

According to its website, once innocently wandering the grasslands of their reality, they unexpectedly saw themselves encircled by foreign architecture. Modern designs had been superseded with white marble posts, their once forested house was now a brand unique terrain, one governed by the Ancient Greeks. The sale will start on 12/1/2022 and the price is 0.0666 ETH. The important links are given below:

9.Top 10 Upcoming NFT Sales: The Wild Cub Society

It is a collection of 7.777 extraordinary works of art depicting 7 various animals. It is a collection of 7,777 unique digital NFTs held on the Ethereum blockchain as ERC-721 tokens. It strives to employ NFTs to partake in animal preservation and to increase awareness. The sale will start on 12/1/2022 and the price is Pre-sale: 0.08ETH Sale: 0.08 ETH. The important links are given below:

10.Top 10 Upcoming NFT Sales: CulD : The Cult Dao

The NFT token recorded in the Ethereum blockchain – Girl in the Helmet, gives its holders complete rights of the NFTs held within the Cult DAO treasury. Merely by maintaining a Girl in the Helmet NFT token, people will not only have the amazing chance to hold existing and prospective fixed NFT collections, but also get complete access to other member benefits, giveaway raffles, and forthcoming Cult DAO occasions! The sale will start on 13/1/2022 and the price is Pre-sale: 0.06 ETH, Public Sale: 0.1 ETH. The important links are given below:

NFT Sales
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