What is an NFT?
NFTs or also known as Non-Fungible Tokens are cryptographic assets with unique identification codes that differentiates from each other on a blockchain, and it can only have one official owner at a time. It can be used to represent the ownership of different unique items like art, collectibles, even real estate. NFTs are not like cryptocurrencies that can be exchanged or traded at equivalency, and this varies from fungible tokens like cryptocurrencies such as Bitcoin, which are identical to each other and, thus, may be used as a medium for economic transactions.
How does NFTs work?
Majorities of NFTs are part of the Ethereum blockchain. Ethereum is like bitcoin or dogecoin, a cryptocurrency. However, its blockchain enables these NFTs, which hold additional information that allows them to function differently from an ETH coin. Whereas other blockchains are also able to implement their own versions of NFTs, which some already have.
How to own an NFT?
The vast range of NFTs can be purchased by Ethers or also known as Ethereum, so owning some of this cryptocurrency and depositing it in a digital wallet such as MetaMask or a Coinbase Wallet will be the first step in purchasing these NFTs. Then, purchasing any NFT that one thinks is attractive is just minutes away from any NFT platforms such as OpenSea, Rarible, and SuperRare.
Some examples of NFTs
The NFT world today is still in its infancy. Theoretically, NFTs can cover anything that is unique and requires verifiable ownership. Nevertheless, here are some current examples of NFTs to help you grasp the idea:
PhantaBear is a collection of 10,000 NFTs project jointly launched by Taiwanese pop star Jay Chou that is backed by the fashion brand PHANTACi. It is a collection of 10,000 algorithmically generated digital collectibles that act as a membership card for the Ezek Club. It is currently the top project on OpenSea (NFT marketplace) by sales volume within the past 24 hours. It has an average trading price of 7.39 Ethereum which is more than 23,000 US Dollars. It has increased for more than 700 per cent since January 6, when its average price was still below 1 Ethereum.
The Heart Project
The Heart Project is a community-run creative studio endorsed by Hong Kong actor Edison Chen back in September 2021. It enables passionate lovers of creativity to create the art we interact with. The sales volume of The Heart Project NFTs has grown over 20,000 per cent over the past few days. The 10,000 unique The Heart Project tokens will serve as membership passes which grant access to creative contribution and shared ownership of our group creations.
These famous NFTs are not only been created or endorsed by famous artists, some such as Snoop Dog has been collecting a trove of highly valuable NFTs to Tom Brady founding a sports NFT platform and Jimmy Fallon purchasing the well-known bored ape NFT by Bored Ape Yacht Club. These entertainers as well as athletes are spreading the awareness of this blockchain-backed digital collectibles as they purchase or sell. Ultimately, with famous figures from all around the globe taking part in the NFT chain, it is inevitable that NFTs will be known worldwide.
BossBoleh launches its very own NFT
As far as NFTs have been well-known in the US and European countries, it has been an emerging topic throughout Asia, and considerably Southeast Asia as well. Boss Boleh has been keeping up to the latest trend and by that, we’ve minted our very own NFT collection on the most popular NFT platform, OpenSea.
BossBoleh NFTs has the concept and idea of spreading motivational quotes and encouraging newly start-up entrepreneurs. It also carries a mindset of encouraging people to make big with great ideas but are afraid to take action on it.
People with great minds will always come up with fantastic ideas but without any action taken it will be a waste to the advanced future. Henceforth, BossBoleh will be the core reason to encourage and motivate young entrepreneurs to chase their dreams and passion and motivating them to build up their business mindsets. Let’s turn the burning passion into an experienced profession.
Let’s turn a small idea into a big idea by incorporating a Sdn Bhd business with us, Boss Boleh.
“Think Passion, Think Boss Boleh”
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