Blockchain Collectibles Start Selling for big Money

Blockchain Collectibles Start Selling for big Money

Digital collectibles on the blockchain have proven to be of great value. So much even that actual collectors are willing to spend a fair bit of money on them.

For most, blockchain collectibles remain a niche market.

The Power of Blockchain Collectibles

While it provides a different flair, it is not necessarily something that makes people money. When it comes to NFTs, however, that situation may change fairly soon. This week, a collector bought the “EXCHANGE THE WORLD 2019” NFT created by Binance. The transaction was settled on the ethereum blockchain for a price of 29.8 ETH, or nearly $5,000 at today’s ether price. It is certainly interesting to see how these digital collectibles are changing hands for larger amounts of money.

One can also understand the appeal of completely owning a digital art object, something that hasn’t been possible until blockchain technology gained traction. It is worth noting that this asset created by Binance is not unique. A second token was still available at the time of writing for a price of 50 ether. Given the limited quantity, the price of these blockchain collectibles may increase if they would ever be resold. The question is whether any of the buyers will be inclined to do so. Blockchain collectibles serve no real purpose yet, but it is certainly an intriguing market for enthusiasts.

Article Produced By
JP Buntinx

https://cryptomode.com/blockchain-collectibles-start-selling-for-big-money/

Related articles

Tor Digital Privacy Project Accepts Donations in Cryptocurrency

Tor Digital Privacy Project Accepts Donations in Cryptocurrency              Tor digital privacy software is now accepting donations in various cryptocurrencies, as a new crypto donational portal appeared on the project’s website on March 18. The site now accepts nine major cryptocurrencies, namely Bitcoin (BTC), Bitcoin Cash (BCH), Dash (DASH), Ethereum (ETH), Litecoin (LTC), Monero (XMR), […]

Learn More

Bitcoin BTC holders will enjoy enhanced security of a firewall’ via Cerberus Protocol claims Neil Woodfine

Bitcoin [BTC] holders will enjoy enhanced security of a ‘firewall’ via Cerberus Protocol, claims Neil Woodfine                                Neil Woodfine, a representative of Blockstream, recently announced the launch of Cerberus Protocol, following the release of the technology’s publication on Medium. According to Woodfine, the objective of the Cerberus Protocol is to re-organize and build a non-custodial […]

Learn More

Regulators Ready to Approve Ethereum Futures CFTC Insider Says

Regulators Ready to Approve Ethereum Futures, CFTC Insider Says            The Takeaway The CFTC is willing to let an ether futures contract go to market after soliciting market feedback last year A futures contract might bring in fresh institutional funding to the crypto space This, in turn, might reassure retail traders looking at the cryptocurrency […]

Learn More

Leave a Reply

Your email address will not be published. Required fields are marked *