With the world of cryptocurrency expanding at exponential rates, there are many ways of exposure. Sure, everyone knows about Bitcoin, or at least have heard about it once, pr twice. But what about the hottest sector of crypto coins, the non-fungible tokens, or NFTs? The entire NFT landscape took off in 2021, with billions worth, bought and sold, by everyday people and investors alike.
You can find just about any type of NFT available on large marketplaces like Open Seas. Anything from Board Ape Yacht Club NFTs, which are worth tons of cash, to NFTs that represent you in Metaverse games, like Decentraland, and The Sandbox. These games are still within their infancy but are poised to grow exponentially in the coming years, with mass adoption beginning to take hold.
What is an NFT?
An NFT is simply the decentralized digital representation of something. In the new Web3 era, decentralized assets are what everyone is after. Being decentralized means that no ultimate authority controls the asset, market, or NFTs. Each digital representation must be minted onto a blockchain before it can be considered an NFT. Several chains offer NFT marketplaces where you can create and mint your own NFTs or buy them from the open NFT market.
It's important to note that NFTs can be anything…
A young man from India took one selfie every day for one year and sold his entire collection of daily selfie NFTs for a million dollars.
But this isn’t the case for most of the NFTs out there and you should only buy them if you really love them or consider them to be an investment.
Moreover, now artists can publish and sell their artwork themselves, or through one of the popular markets that get millions of site visitors already. There has never been such an enormous opportunity for talented people to showcase their talents for the world to see.
What are Medical Marijuana NFTs?
Now cannabis enthusiasts can get in on the action, with medical marijuana strain NFT’s. These digital representations for actual medical marijuana strains are getting lots of attention. Some offer thousands of copies of the same piece, while others try and make their marijuana NFTs go up in value, by limiting production to 1, of 1.
These unique digital photos are unique and showcase the best traits about each strain, up close and personal. Some of the NFTs are crystal clear photos of cannabis flower, under a 5x jewelers’ loop, which shows ripened trichomes, and mature flower formations like you’ve never seen before. View strains like White Widow, Afghani Kush, Northern Lights, and others.
How to Create an NFT?
Anyone could potentially create their own NFTs of whatever they want. The process isn’t difficult, nor expensive unless you’re looking to hire an artist to create the NFT itself. Provided that you can do it yourself, the process includes:
- Go to Open Seas and create an account
- Navigate to the NFT creator’s page
- Upload your art, photos, or any images you wish
- Mint your images into NFTs
Where to Search for Cannabis NFT Artwork?
Because crypto is a newer technology you must be careful where you go to search for NFTs, or any other cryptocurrency. There are well-established NFT marketplaces such as Open Seas, which runs on the Ethereum blockchain, and Solana Art, which functions on Solana’s blockchain.
But you should do your own research as well. In fact, that is part of the fun, exploring everything in the world of NFT artwork, photography, and more. Just keep in mind that it’s a bit of the wild west out there and don’t buy from the first place you spot. Many times, Twitter verified profiles for the NFT company can be great for determining who is real and not.
Here is a popular medical marijuana strains NFT platform on the Open Seas market.
What Makes NFTs Valuable?
Just like if you owned the Mona Lisa, owning NFT artwork can be lucrative and great for long-term investors. Each cannabis strain NFT is minted on a blockchain, automatically verifying ownership, like a certificate would for artwork in the real world.
Only decentralized blockchain technology is way better than certificate authenticity verification. Blockchains run public ledgers which simultaneously update across thousands of computers within its network, making transactions hackproof.
Once you have minted an NFT or purchased one, the ledger updates with you being verified as the newest owner. Over time, NFTs can go up in value, as others have before.
Conclusion to All of This
NFTs can be fun and become a hobby that makes you money in the long run. Or you could simply collect them for entertainment. Some people invest in crypto and NFTs, trying to turn profits. No matter why you are interested in cryptocurrency, we know they are here to stay.
If you are interested in learning more about investing in NFTs you should speak with a professional advisor beforehand. This way you ensure that whatever you end up purchasing will be the best fit for your financial and lifestyle goals overall.