by Analytics Insight
February 2, 2022
Crypt investors can gain profit from NFTs through EverGrow Coin ($EGC)
NFTs went mainstream in 2021, mostly because the money people are paying for them is serious money. Take Beeple’s “Everyday: the First 5000 Days” which sold for US$69 million and became the most expensive NFT sold at a traditional auction house. Then in December the creator Pak sold “Merge” for an eye-watering US$91.8 million on NFT marketplace Nifty Gateway. For context, the Mona Lisa was insured for US$100 million in 1962.
Many marketplaces have popped up around NFTs. The most well-known are OpenSea, Rarible, Grimes’ Choice, and Nifty Gateway but there are plenty of others. There are artists out there like 18-year-old FEWOCiOUS who claim to have netted over US$17 million from NFT sales. And then there are investors and traders who get into NFTs purely to watch them earn.
What are NFTs exactly? NFT stands for non-fungible token and means a unique asset that cannot be used as a medium for transactions – unlike a cryptocurrency, comprised of fungible tokens identical to one another. Essentially they are cryptographic assets on a blockchain with unique identification codes that determine ownership. And yet the nature of digital artwork means many times you make money from NFTs only when you sell them.
Many cryptocurrencies are developing NFT marketplaces to allow investors greater access to crypto assets as they start going mainstream. EverGrow Coin is a relatively new cryptocurrency, only launched in September 2021. Yet EverGrow ($EGC) is one of the best examples of how top developers intend to help you make money on your NFTs without actually selling them.
Built on BSC, the EverGrow platform will allow owners to readily borrow against their NFTs as collateral at fair interest rates. It means that rather than letting you NFTs gather digital dust, you can make use of them to gain more money – and not just in the native $EGC token.
But it doesn’t stop there. Investors can also purchase and sell NFTs, including those obtained via liquidated collateral from the NFT lending platform at its BSC-based NFT marketplace. The buying and selling of NFTs create a one-of-a-kind competitive market for buying NFTs at a discount to average market value while creating an ecosystem to turn them into income generators.
The EverGrow Coin NFT marketplace will also have a minting tool, letting users generate their own NFTs using pictures, videos, and other data. All of this goes towards creating bigger, better marketplaces with more features and functionality and with easy trade on the blockchain.
The sales volume of NFTs hit US$2.5 billion in the first six months of 2021 – up from a total of US$13.7 million throughout the whole of 2020. The rapid increase was driven by headlines of record-breaking sales as well as celebrity interest and business cottoning on the new trend. From Beeple and Pak’s record-breaking sales to the world’s first and rare wine auction house Acker announcing its first-ever NFT from Burgundy to the listing of publicly traded NFTs investment vehicle NFT Investments Plc in London, 2021 was a breakout year for this newest digital trend. Going by what top developers like at EverGrow Crow are working on, 2022 will set new records in the NFT space.
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