What are the different Types of NFTs?

1. Music NFTs Music piracy has been a problem for music creators for a long time as it eats into their profits. However, thanks to NFTs, it won't be the case in the future.

Nowadays, musicians earn money via streaming platforms that take away a significant percentage of their income.  But by selling music via NFTs, musicians can keep hold of all their earnings.

2. Art NFTs Currently, the most expensive NFTs come from the world of art.

Do you know that the one of the most expensive art NFT is "Every day's: The First 5000 Days" by Beeple?

It has been sold for US $69 million. But it is not the only one going for a high price.  Even Gifs and small videos created by other artists fetched vast sums of money for developers.

3. Collectible NFTs such as trading cards Collectibles are highly coveted in niche markets. If you have a unique baseball card, then the chances of you finding a buyer are really high.

NFTs provide a way to sell the virtual version of a trading card to different parties. If the baseball card is in high demand, you are likely to make money without even selling the real thing.

4. Selling unforgettable moments as NFTs Can you own a legendary Michael Jordan dunk?

Well, literally, you cannot own the greatness of the legend, but it is possible to own a short video of the megastar dunking over another great defender.

NFTs for legendary sports clips can sell for hundreds of thousands of dollars. But you need to make sure that you are buying from the right owner.

5. Video game virtual items and limited-edition content converted into NFTs

Video game revolutionized by tokenization feature in-game content such as Downloadable Content (DLC) that can be sold as NFTs.

For example, a company can sell a unique limited-edition version of game assets online in NFTs.

The price of these assets will increase due to their exclusivity and earn the developer and owner of the NFT an excellent profit.

Pro Advice: Don't buy NFTs just because everyone is buying them. Only buy NFTs if you understand the goods being sold and use them.

Disclaimer: Cryptogurukul has no relationship to these projects, and there is no endorsement or investment advise. Please seek professional advice before taking financial risks.