Here’s another LATOKEN review, and now we want to write about NFTs. In August, the lead vocalist of Rammstein Till Lindemann and footballer Lionel Messi announced the release of non-fungible tokens. So why is there another surge in the popularity of NFT, and is it worth buying tokens of famous people? Let’s try to figure it out thanks to this LATOKEN review!
Against the background of the recovery of the crypto market, there is a surge in the popularity of non-fungible tokens (NFT). For example, in early August, trading volumes on the OpenSea NFT marketplace exceeded $828,6 million, although in July, this mark was only $284,2 million, and in June, it was $125,2 million. So what is NFT?
Do you remember that NFT tokens are usually not divisible? NFTs prove ownership of a digital item in the same way that people own crypto coins. Unlike cryptocurrency coins, which are identical and worth the same, NFTs are unique.
Want to learn more about NFTs? Then read our article “What Is an NFT Token, and How Some Make Millions on It.”
In the first half of 2021, sales of non-fungible tokens reached a record $2,5 billion. In 2020, NFT sales were $95 million, so 26 times less!
On August 11, the lead vocalist of Rammstein Till Lindemann put up for sale his own non-fungible tokens, which are tied to animated illustrations on the NFT Frame platform. There are five types of NFTs available for purchase. The most expensive of them costs 100 thousand euros. Its buyer will receive the token and the opportunity to meet with Lindemann in Moscow.
In early August, Lionel Messi announced the release of his own collection of NFT tokens, The Messiverse, drawn by the artist Bosslogic. Tokens will be presented on August 20 on the Ethernity Chain platform. Since August 4, the platform’s token has risen in price by 90%.
What does NFT boom mean & what does NFT stand for?
The NFT market is growing rapidly, with users actively buying and testing non-fungible token technology. This is the second NFT boom this year, according to many experts. Most likely, the market will continue to grow and develop.
Many crypto enthusiasts believe that this market is unique, it is very similar to the art and the market for collectibles, so it is difficult to approach it rationally. You will likely become strongly attached to a particular artist or person. Perhaps this area will also become popular among crypto scammers, so be extremely careful when dealing with NFTs. In order not to become a victim of a cryptocurrency scam, you must always do your research and remain vigilant.
Want to learn more tips on how to avoid becoming a victim of crypto scams? The check out these LATOKEN articles:
- How to Avoid Crypto Scams: Essential Tips from LATOKEN
- What is Phishing, and How Scammers Use it in crypto?
- Shitcoins as Another Type of Crypto Scam. What Are They and How to Avoid Buying Them?
- How to Quickly Identify a Crypto Scam. Tips From LATOKEN
Is it worth investing in NFT? LATOKEN review
The NFT industry is undergoing tremendous growth, which is undoubtedly helping the crypto market recover. According to many experts, owning tokens will become a common practice for famous personalities in the future. Popular sports teams will also come to this. However, do not forget that you need to buy NFT tokens carefully, in compliance with money management, since any “hype” sooner or later leads to overheating of the market, followed by a correction. That is why we often write LATOKEN reviews so that our users, traders, and crypto enthusiasts from all over the world can always stay up to date.
Humanoid robot Sophia, singer The Weeknd, American football player Tom Brady, Russian mixed martial arts fighter Khabib Nurmagomedov, American filmmaker Kevin Smith, legendary football player Pele, boxer Floyd Mayweather, and many others have already issued their own non-fungible tokens.
It makes sense to buy NFT tokens only if there is a deep understanding of the value of a digital asset from a specific person or organization. You can buy NFT tokens only when there is confidence in further growth in their popularity.
If you want to learn more about NFTs, tokens listed on LATOKEN, crypto projects through LATOKEN Review, and tips on avoiding becoming a victim of a crypto scam, follow us on Medium, LATOKEN Blog, or LATOKEN VCTV channels.
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LATOKEN is an international cryptocurrency exchange and IEO platform with over 1.3 million users across the world.
LATOKEN does not provide investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like many other assets, cryptocurrencies are subject to high market risk. Please trade with caution.