NFTs are killing it in the Web3 Space, no doubt! What’s stopping you from joining the team? Non Fungible Tokens(NFTs) have become a great financial breakthrough for a lot of Nigerian Youths, with many making over a million naira per sale. Over the past months, we’ve recorded incredible success stories from some NFT Traders who have made it big in the game.
What are NFTs?
Non-Fungible refers to something that is distinct and cannot be duplicated. Therefore, a non-fungible token is a special digital token that can be used as proof of ownership and validity for the artwork that is stored in your digital wallet.
Due to their singularity, these items are rare, which increases their worth as NFTs.
Anything digital, including music, images, films, and more, can be an NFT. Even an autographed tweet turned into an NFT on Twitter!
Becoming an NFT Creator comes with some work… and, maybe, motivation! Let’s take a look at a few success stories; just maybe it will motivate you.
Adewunmi Rasaq Babatunde, a gifted photographer, reported that he had sold three of his exquisite pieces for a whooping N740,000. The pieces are labeled Fascinating, Elegant, and Exquisite. He claimed that each artistic photograph sold for 0.15 Ether. Adewunmi had N740k in his hands after the money was changed to dollars and subsequently to nairas.
Before Adewunmi Rasaq completed his sales, Adisa Olashila, a different Nigerian teenager, sold two lovely pictures of an elderly drummer for the astounding sum of N1m.
He took the pictures in Ibadan, and once he sold them, more and more people became interested in NFTs. He went back to the old man and gave him a 50% share of the money.
Vincent Ekong, a gifted artist, created a stunning painting of the collector, @Valhalla XXX at OpenSea; the collector purchased it at N100,000.
Vincent, a person with a disability who can only use one hand, creates his drawings on a computer. He responded to the going rate for his works by saying: “The pricing doesn’t end there. Others are heavier than that. The price will rise more dramatically the larger the frame.” He also described how, following an incident that cost him his right hand, he began creating art. He stated: “In October 2021, I then made the daring decision to do something. I studied graphic design and art. However, learning was not as easy for me because I was right-handed and switching to the left was a little challenging.”
Nigerian NFTs enthusiasts are making huge sales on OpenSea, one of the most popular NFT Marketplaces. Many young individuals are currently participating in NFTs in Nigeria, some with only their smartphones, while others have achieved success and improved their equipment. It is hardly unexpected that many young Nigerians are leveraging NFTs for financial gain, given their current exponential expansion in Nigeria. This guide on How To Mint NFTs can put you through to minting your own NFT. But you can as well trade NFTs; learn more about NFTs here.
Trading NFTs is another great way to make money in the Web3 Space. Millions of dollars have been paid for these digital pieces of art, leading some speculators to label NFTs as a get-rich-quick scheme. However, many artists and producers are starting to march into hopeful development as a result of the NFT sector’s steady rise. One lucky thing about NFT is that it is open to all: young ones, older ones, disabled, students, mothers, and name them, just like Cryptocurrency! So, what’s keeping you waiting? Hop in and start the money journey! But, when you want to convert your NFT to Naira, remember Breet Oh!