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NFTs gain legs as OpenSea is valued at over $13billion

NFTs are gaining ground, and that has been proven by the news that NFT marketplace, OpenSea, has been recently valued at over $13billion.
This comes after an investment of $300 million into the company, which OpenSea says has risen 600-fold in 2021.

Co-founder Devin Finzer said: “In 2021, we saw the world awaken to the idea that NFTs represent the basic building blocks for brand new peer-to-peer economies.”

What are NFTs?
NFT stands for non-fungible tokens, and, to put it simply, are considered a stamp of originality amongst art online. It creates the ownership and permanence that people look for in physical items for their digital equivalents. People will pay a lot of money online to be sure that they own the original copy of a digital piece of art.

For example, the world-famous Nyan Cat has been copied millions of times across the internet, but only one person can say they have the original.

NFTs are making waves in the art world, as the concept becomes more popular. Yes, the front page might talk about memes getting sold off, but it is also a means for legitimate artists to sell their work for a good price, and brands to create merchandise.

How do affiliate marketers get involved?
Like crypto, NFTs live and die on hype. Therefore, it is important when selling NFTs to build hype around the digital product being sold.

Not only that but NFTs are now considered a form of merchandise like hoodies or stickers. To buy one is to support your favourite brands. Brands can sell them like any other product to gain positive attention.