NFT’s Impact on the Furniture Industry

0

Recently, NFTs have been everywhere in the news. From how the music industry can leverage it to the many things that can be done with NFT crypto art. All of these are pointers to the crypto-driven future we are all headed to.

If you’re new to cryptocurrency, NFT refers to non-fungible tokens that are powered by blockchain technology. As Bitcoin and Dogecoin, we are conversant with NFTs come with many prospects for the cryptocurrency world. According to experts, these non-fungible tokens can have a lot of positive impacts on the furniture industry.

Living room with big windows
Used with permission of Alice Lane

It’s surprising to see how virtual everything is becoming, even those we never thought could go virtual. At the time, NiftyGateway organized an auction tagged “The Shipping.” Not only was this the first of its kind, but we saw the birth of something phenomenal. In this auction, ten pieces of virtual furniture were sold by Andres Reisinger. Now, you might be wondering – who buys a piece of virtual furniture or what about these pieces of furniture makes them valuable?

Here’s the secret — they were sold as non-fungible tokens, and in about 10minutes, Andres Reisinger had made for himself a fortune. He made about $450,000 from these pieces of virtual furniture. That, in itself, is proof of how much impact NFT has on the furniture industry. Like you would expect of smart people, others followed in Andres’s path. Nicholas Baker and Alexis Christodoulou have also started working on their own NFTs.

For the artist, NFT crypto art can be a good way to bring in money. With this, you can buy Dogecoin or invest it in cryptocurrencies that operate on the blockchain. However, as a buyer, what can you do with virtual furniture? A lot can be done with a physical furniture piece, from placing it in your living room to using it to beautify your room space, but for virtual furniture? Interestingly, there is also a lot you can do with pieces of virtual furniture, and some of them include:

You can have them in your collection like you will do of a notable artwork

Bright designed living room with sofa, armchair and coffee table
Used with permission of Jack Gardner

It’s not and will never be a bad idea to have an NFT couch as one of the many collections of digital collectibles you have. Think of having this virtual furniture the same way you have your favorite albums on your phone or some abstract painting of one of the world’s best artists.

The more you go into the crypto world, the more you will find non-fungible works more attractive and great to have. So, before you jump on the first NFT album released by Kings of Leon, you can order that NFT furniture.

You can display it in a virtual shared space

With the growth of virtual shared spaces, you can do a lot with NFT furniture. You can explore the 3-D model of the future with any of the augmented reality tools available. You can broadcast them via video games or upload them to any web pages that allow game players to upload their non-fungible tokens collection.

Then, you can have it exhibited in a virtual museum. Imagine having your NFT furniture in a virtual museum? That’s sure going to create a good feeling of satisfaction for you. Popular museums you can consider uploading your non-fungible tokens to include the Museum of Crypto Art and the B.20 Museum, among others.

For those with great interest in different pieces of NFT furniture, you can build your cryptocurrency home or hire a digital designer and virtual estate architect to get it done for you.

You can make it your social media avatar or frame it

Home office, table with PC monitor, laptop, notebook, pen, mouse pad and mouse
Photo by Grovemade on Unsplash

With your NFT crypto art, you can join the ongoing digital flex and make it an avatar. You can display this avatar on popular digital marketplaces like SuperRare.

Digital frames are also becoming a thing, and you can showcase your NFT furniture to the world by placing it on a digital frame. You can surf the internet to find affordable digital framing services for your furniture.

You Can Resell the NFT Furniture

Think of how much money you spent getting an NFT crypto trade now when there are still minimal discussions around it. Then, think of how much you can make from it in the years to come when non-fungible tokens go mainstream like Bitcoin and Dogecoin. There is a predicted bubble when NFTs finally find a place in the furniture industry.

Non-fungible tokens offer artists a great opportunity to monetize their artworks and provide buyers with an investment opportunity. Like you will invest in cryptocurrency, you can also buy NFT crypto art or furniture and sell in the future when their prices must have gone up.

Gradually, NFT is transforming the furniture industry with virtual furniture opportunities for artists and lovers. It is also creating a good investment channel for everyone in the cryptocurrency market.

Thanks to /paybis.com for consulting.

LEAVE A REPLY

This site uses Akismet to reduce spam. Learn how your comment data is processed.