Can NFTs Thrive As The Crypto Market Booms? Orbeon Protocol Says They Can

NFTs have been substantially growing in popularity as the wider crypto market has grown. The buying and selling of these NFTs has been financially beneficial for a vast range of people. As simple GIFs or JPEG files, very few people expected them to become collectible art. But with the expansion and success of the crypto market, what does the future hold for NFTs? Let’s explore this further. 

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Non-Fungible Tokens

NFT stands for Non-Fungible Token. They are cryptographic assets with a metadata and identification codes on a blockchain. Some may confuse them with a form of cryptocurrency, but this is not the case.  Unlike fungible tokens, NFTs cannot be exchanged or used for commercial transactions. They cannot be replicated. NFTs work as a representation for individual identity, property rights, artwork, and real estate. By making these assets token, non-fungible tokens make buying, trading or selling these real-life items more tangible and reduces the risk of fraud. NFTs can work to connect artists with their audience, create new market demographics and remove intermediaries. This is primarily because of the inclusion of the block chain. 

Currently, NFTs are centred around collectible items such as rarities and digital artwork. They are unique in the cryptographic market, and they cannot be replicated or equal to another token. They have a non-transferable identity, but they are extensible, meaning the combination of two unique NFTs can produce a third unique NFT.

TheFutureforNFTs

Let’s consider the survival of NFTs as the crypto market blooms. NFTs have been largely successful but like many established innovations, such as the internet, there has been doubt over the prosperity of non-fungible tokens in the long term should they continue to be focused on digital art and collectibles. Some investors were quick to doubt and distrust the appearance of cryptocurrencies like bitcoin and NFTs. However, today they are thriving. With the world expanding digitally, NFTs are likely to become an established part of investments and the virtual world. 

NFTs in a metaverse

If we delve deeper, we could consider the possibility of NFTs not only surviving but becoming more vital and popular as the crypto markets expand. They may become tokens that can be used for purchasing stocks or real estate as well as digital assets. NFTs with utility are likely to be a crucial next step in the evolution of these tokens, and Orbeon Protocol is a prime example of how NFTs can provide utility for investors. Orbeon Protocol puts NFTs to use in a way that nobody has before, by using them to create a blockchain investment platform. This unique system allows startups to raise capital from investors rapidly, whilst also connecting with the web3 world. Orbeon mints these investment opportunities as NFTs and fractionalizes them, allowing investors to buy into these startups through these NFTs for a price as low as $1. NFTs are constantly evolving, and the next stage of development for these fascinating blockchain innovations is the use of equity based NFTs through rapidly growing projects like Orbeon Protocol. Notably, Orbeon’s native ORBN token is currently in presale with experts predicting a 6000% rise in value as the interest in the NFT investment platform grows.

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