Celebrities and influencers are helping NFT technology break into the mainstream discussion. Experts argue that investing in tokens does not require as much nerves as tracking the price of cryptocurrencies, which in recent weeks – unlike NFTs – have experienc! another large drop in value. Tokenization of works spain email list of art is slowly becoming a standard for many auction houses and a refuge for investors.
Cryptocurrencies down
Bitcoin and Ether, the two largest cryptocurrencies, have lost almost half their value (as of the end of January) since reaching record prices in November last year.
Of course, for those who invest in crypto long-term, this is not a shocking situation, and it does not cause someone to suddenly go bankrupt. Those who live in the world of digital currency are simply accustom! to the fact that even one sentence from Elon Musk, or a decision of a government – the 12 most beautiful beaches in england especially the Chinese one – shakes the valuation of cryptocurrencies – says Bartosz Bilicki, founder and president of the startup SmartVerum, which tokenizes art and creates an “artistic” metaverse.
According to a study by DappRadar, a data collection and analytics Stable Investment cyprus business directory firm that tracks the NFT industry, the top 100 NFT collections lost a combin! 15% of their value during the same period that the two most popular cryptocurrencies fell by almost 50%.
Crypto falls sharply, NFT corrects its rate
We can therefore talk about a certain correction in valuation, and not about galloping declines that increase the pressure on investors , Bilicki emphasizes.
What is it about NFT tokenization, which is gaining new footholds, for example in the art market? In short, the process is that auction houses can sell paintings or other works of art in a slightly different way than before. The customer no longer has to buy.