Bybit: What do you do with purchasing NFT art? Explanation of sales methods, usage, and future prospects

Bybit

Some people may wonder how to use NFT art, so I will introduce and explain how to use it after purchasing it in this article. It can be said that this is a market that has received a lot of attention in recent years. This is because this market is an industry that is growing quite rapidly in the 2020s. However, what do you do after purchasing NFT art? There are many people who are interested.

What do you do with NFT art?

NFT art is a hot topic. But what do you do with buying NFT art? This problem occurs. There are many people who buy NFT art but have no idea how it can be used. However, there are many uses, such as: You can find various uses for it by preparing it yourself and accumulating knowledge. If necessary, you can sell them through NFT resale and earn money from commissions, or you can hold them and enjoy them as a hobby.There are many ways to use them, so you can increase the amount of money you earn.

wallet collection

NFTs are digital images, so you can enjoy them like an album by arranging them in your wallet. In other words, you have the advantage of making it your own collection and enjoying it as a hobby. As for the purchasing step, there are new NFTs that are being introduced on SNS and communities, and there are people selling them, so there is a lot of information out there. It is popular because it has a lot of exposure. If you use it, you will get a lot of attention.

SNS icon

Many people set NFT art as their SNS icons. In particular, I see a lot of people choosing to use the Twitter icon. Depending on the category, the reception is very good. The trick to creating one is to create a design that is easy to use for avatars and icons like these. It is easy to sell both domestically and internationally.

resale

Many people now sell the NFTs they have purchased and earn income. Because the NFT population is still small, it is possible to take advantage of the first-mover advantage. Profit is generated when the purchaser purchases and distributes the work of the target artist. Digital art is cheap, and the demand for it has been created, making it an attractive piece of content. Your network will expand and opportunities for interaction will increase.

Smartphone standby screen

Recently, depending on the genre, there are many users both in Japan and overseas who are setting NFT art as the wallpaper of their smartphones. Since you can freely set some of the published images as the standby screen of your smartphone or PC, many people usually do this. NFTs such as pictures and images are now available exclusively for smartphones, and basically you can buy what you like in advance and use it in the system with care. The number of types of paintings is increasing rapidly.

Exhibit in the metaverse space

There is a means of exhibiting in the metaverse space. Metaverse is a three-dimensional world created on the Internet, which is translated as “virtual space.” You can customize the place where you display your art and share it with others. There are opportunities if you promote your gallery in the media. The function is to upload and post the address using tools etc. Once connected, users can choose what to buy or sell.

give away

Giveaway is a project on Twitter where you can win NFTs through a lottery based on following, RT, and likes. In the service, those who receive give priority to those who receive it, and it is a chance to obtain commercially produced NFTs for free, while those who give give them the opportunity to support the project. Although it may be cheap at first, you can expect that the same NFT may be advantageous and sell for a high price if there are special benefits. Start by sending out information and getting people to know about your profile and works.

borrow money

Some people entrust their NFT art to others and borrow money from them. There is a system called NFTfi that allows individuals to borrow virtual currency using NFTs as collateral by presenting conditions and agreeing to them. Advances in blockchain technology have created a variety of uses in Japan starting in 2022. Prices are fluctuating, but management methods are also diversifying, and the number of ways to earn money is increasing. It is now easy to transfer ETH from Coincheck to Metamask.

NFTfi

The future of NFTs

The future of NFT is said to be both bright and bleak. Crypto asset exchanges handle NFTs, and it can be said that it depends on the value of virtual currencies such as Ethereum and Bitcoin. Creators can increase their profits by studying digital data, accumulating knowledge, and gaining experience when buying and selling. Let’s create mainstream, popular items that will be popular with collectors, such as character illustrations. It’s already available in large quantities on opensea, so let’s check it out. Even beginners can watch it for free, it’s easy to get started, and the content is easy to understand. Check out the latest works and explanations from the app.

New entry by companies

Companies and celebrities are entering the NFT space one after another. Therefore, while there are still new entrants, the NFT boom is not expected to end yet. As a result, awareness of NFTs is increasing, even among people who had no idea about NFTs before. Famous companies include Facebook and Adidas. Several influencers and bloggers are also exhibiting items and works, and NFTs are becoming more popular among fans. For reference, the market is expanding, and large companies are also entering the market for profit. It’s easy to manage and you can prove ownership, so you can carry out your own activities.

Introduction of NFT through SNS

Instagram and Twitter are introducing NFTs. You can now set your Twitter icon as a one-of-a-kind NFT. This is expected to increase awareness of NFTs as it is promoting them to the general public. NFT culture doesn’t exist on SNS yet, so if people start liking it, it will explode in the long run. It is already available on coincheck etc. and you can see the data. Copyrights are protected by the platform and can be used and created on the web. It is very popular because it is the only asset and cannot be tampered with. Your rights are protected even if you copy it. The risk is that there is no legal guarantee.

resale

Resellers are also appearing to take advantage of the NFT boom. Although resellers are generally hated, they are helping to revitalize the NFT market. The advantage of reselling NFTs is that since they are digital assets, there are no fixed costs. Since various markets are still developing, it is said that profits will increase in the future. Many people receive income by specializing in a particular field. Now, you can pay gas fees from Metamask etc. and purchase NFTs from the exchange by clicking from home. You can find it by comparing.

Bybit’s NFT Marketplace

Bybit has an NFT marketplace. Once you open an account, you can actually enter and trade, so let’s give it a try. To start purchasing art on Bybit, the disadvantage is that you have to transfer virtual currency from your wallet. Send money from exchanges that support other fiat currencies. NFTs are attracting attention, but you should be careful as they have the disadvantage that they can plummet instead of being profitable.

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