Like Tamagotchis, Beanie Babies, and Cabbage Patch Doll Kids, many have called the hottest trend of 2021 – non-fungible token donation, or NFT – a passing fad that will at best be part of Des’s time capsule. Past Christmas gifts that turned out to be fun but unnecessary and potentially worthless collectibles.
Wall Street and those immersed in the rapidly growing world of cryptocurrencies, digital assets, Web 3, staking, gassing, mining, and coinage see it very differently.
From Nike (NKE) – Get the Class B report from NIKE, Inc. to Adidas (ADDYY) to Sony (END) – Get the report from Sony Corp. and AMC Entertainment (AMC) – Get the Class A report from AMC Entertainment Holdings, Inc. to the electric car manufacturer Fisker (RSF) – Get the Class A report from Fisker Inc, Wall Street, Main Street and Silicon Valley are as busy as elves offering NFTs to their employees and the general public.
Simply put, NFTs are blockchain-verified digital pieces of anything you can think of – art, shoes, sketches, a cup of coffee with the face of YouTube star Mr. Beast on it, or a digital render of the. eyes of former first lady Melania Trump.
Fisker launches into the NFT game
And they opt for prices that when translated into dollars and cents don’t seem to make much sense because you can’t touch them, wear them, hang them on the wall, display them in a gallery or museum, or in a place them in a garden.
Fisker is the latest public company to launch into NFT gaming. The automaker announced Monday that it will launch exclusive digital art NFTs of original pen-on-paper sketches by the hand of founder and chief designer Henrik Fisker.
As part of the very first NFT sale “Fisker by Hand: OCEAN Concept Collection”, Fisker donates 50% of primary sales to non-profit organizations supporting corporate ESG principles. For the inaugural release, a total of 100 NFT Fisker by Hand: OCEAN Concept Collection are available for purchase.
Sportswear and footwear giant Adidas minted $ 23 million in Ethereum, the world’s second largest digital currency, last weekend.
An NFT museum that displays … Nothing
Some companies offer NFT outright. Figment, one of the world’s largest providers of blockchain, crypto staking, and Web 3 infrastructure, offers all of its employees NFT cartoonish portraits of all of its employees.
Illustrating the company’s passion and its focus on digital assets, Yannick Folla, Figment’s product manager in Montreal, runs an NFT museum.
And the list continues. Fashion icon Iris Apfel Earlier this month, he auctioned off NFT greeting cards depicting some of his best holiday moments. NFTs were offered in partnership with photo book company Shutterfly (ESCAPE) – Get the report Shutterfly, Inc.with proceeds going to the Boys & Girls Club of America.
One of the most revealing NFT auctions of the year: a $ 435,000 NFT package titled “Belugies” which was sold through the Solana Network, by a 14 year old artist known as “PeachSunday”.
Investments, collectibles or both?
The least understood about NFTs and digital assets in general is the concept that they can be redeemed like baseball cards or other real collectibles.
For lucky Figment employees, that means their NFT self-portrait Christmas gifts might actually be worth something that’s more than a lark – if mom or grandma can figure out how to set up a digital account to purchase them.
For others, that means betting that owning the verified digital rights to Jack Dorsey’s first tweet or first Wikipedia entry will be something someone else will want to own later.
For those with an understanding of what the future might look like, especially the Metaverse, where real and virtual reality will intertwine, the idea of having a personalized pair of Nikes or Adidas, an exclusive music track and digitally verified or a rare render of a digital car from 2021 hanging on the virtual wall is enough to click buy now.
Just ask the owner of Facebook Meta’s (FB) – Get the Class A report from Meta Platforms Inc. Mark Zuckerberg.