One common argument in the debate around the value and future of NFTs comes from people who think they’re “just” digital art, or worse, really expensive jpegs that anyone can screenshot. (Read about why screenshot jokes aren’t the “gotcha” people think they are here.)
Then you get into whether that art is good, why it is worth anything, and how long it will hold value…it can get pretty opinionated out there. Let’s talk about the reality of the value you can find in certain NFTs and how to decide if a collection is right for you.
How to spot NFTs that are more than “just” JPGS
Some NFTS are basically all about the jpgs/jpegs, or digital image files. (Technically, the NFT itself is actually proof of ownership of a file that’s on the blockchain, not the file itself, but the idea is there). That’s digital art collecting and art collecting isn’t really new in the financial or collector world.
If you like it and appreciate the work the artist put into creating it, it’s worth something. If others like it in the future, it will still be worth something. Simple enough and a completely valid idea.
The other part of this conversation is that most of the NFTs set up for jpgs also have other features or utility built-in. They may include access to a community or event, support a cause, represent a physical item, or even be tied to a portion of a business. Plus, other NFTs may be songs, videos, or other file types.
Let’s take a look at a few examples of how NFTs can be more than “just” jpgs:
- Art Blocks has worked to generate money for different charities by building it directly into their smart contracts for different projects.
- VeeFriends is a unique way for Gary Vee to connect with his audience. People can buy NFTs which act as tokens for different experiences with Gary himself, like gaming, playing poker, or getting brunch together.
- So Rare combines card games, soccer, and NFTs to bring a new way to experience fantasy sports by allowing you to buy cards with different players from around the world.
- Once Upon A Time in Shaolin is an NFT for an album by Wu-Tang Clan that was bought for 4 million dollars. We’re seeing music released on a more regular basis as NFTs.
- Killroy Was Here is a movie by Kevin Smith of Clerks fame and was released as an NFT. He has been at the forefront of indie movies for almost 30 years and even created his own NFT Marketplace called Jay and Silent Bob’s Crypto Studio.
- Crypto Baristas is a coffee shop due to open in June 2022 in New York City that allows ownership through NFTs, offering discounts and other perks.
These broader utilities and the long-term sticking power are why we are so passionate about the collections we purposefully curate into each Vault of fractional NFTs at Mooned Mints. The value and real community that they provide their holders is powerful, and we believe in the NFT creators and projects that you’ll find here.
Want to learn more or see some of our favorite NFTs in action?
Head on over to the Vaults! We explain more about each NFT in the listings and why we picked them. Plus, if you’re ready to dive into some exciting NFT collections, fractional NFTs are a great way to buy into a diverse roundup of projects and types of utilities on any budget!
And make sure to join the discussions happening in the community and sign up for the newsletter right there in the footer to keep up to date on NFT news and exciting new Vaults when they drop.
No matter what, there’s risk in any market and you should always do your own research before purchasing an NFT, a fraction of an NFT, or any token or cryptocurrency.