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Rarible's Co-Founder Says NFTs Are Skyrocketing

Non-fungible tokens have skyrocketed in price and popularity this year, as celebrities and major companies jump onto the hype, but they have a long way to go before really reaching the mainstream, according to Rarible cofounder Alex Salnikov.

To do that, NFTs have to become more affordable and accessible, and companies have to think hard about what value they have for ordinary consumers, Salnikov told Insider in an interview this week.

This includes making it easier for people to understand the market and simplifying the purchasing process. Right now, buyers have to set up a crypto wallet and add funds to it if they want to get an NFT.

NFTs are a class of unique digital assets - such as videos, audio, images or even tweets - whose ownership is inscribed on blockchain ledgers.

To break into the mass market, those offering the digital assets must first figure out what use they could have for the ordinary buyer, Salnikov said.

Interest in NFTs is skyrocketing. In the 30 days to August 5, a total of 175,179 NFTs were sold for an overall $510.6 million, according to data from NFT tracking platform Nonfungible.com. That is a record for amount of money spent on NFTs in that length of period, it found.

The buzz grew in March when digital artist Beeple sold an NFT artwork for a record-breaking $69 million. Since then, a stream of celebrities such as Katy Perry, and leading organisations such as US Space Force, have jumped in to sell their own NFTs, raising their profile further. NFTs have also entered the sports world, with the NBA's Golden State Warriors launching an NFT collection. Luxury auction houses Sotheby's and Christie's have sold digital assets such as CryptoPunks for millions of dollars.

These high-profile sales of often expensive, one-off NFTs aren't helping set the stage for the asset class to move into the mainstream, Salnikov believes. Even though mass-market brand Coca-Cola recently launched an NFT, it was for $500,000, he noted.

Why to Create a Blockchain, Crypto Collectible NFT Marketplace Like Rarible?

Few of the advantages of launching a NFT marketplace like Rarible are mentioned below,

Here are few right reasons to launch your NFT marketplace like Rarible,
It increased the ROI with decreased COI
Wide range of crypto collectibles are accepted
Acts as a bridge between DeFi and NFT communities
It is unique and money-making crypto collectible platform
Easy to setup and launch the platform
With its next-gen features in the platform, easily gains the attention of wide range of people

NFT Marketplace Development Company

Sellbitbuy provides a space to build and launch high-end secure NFT marketplace with customizable solutions. We are with an expert support team who are available round the clock to resolve all the client's problems. Also we are equipped with skilled NFT platform developers who are best in coding best NFTs with unique and customizable features.

Why Choose Sellbitbuy For Your NFT Marketplace Development?

Here are some of the highlighting points to choose Sellbitbuy for NFT marketplace development,

NFT Marketplace Development at the reasonable cost
On time project delivery
Dedicated pool of certified Blockchain developers
Best in clone development of popular NFT Marketplaces
24*7 technical support
Source >> https://markets.businessinsider.com/news/currencies/nft-sales-soari...

Our Other NFT Marketplace Development Solutions

OpenSea Clone Script
Rarible Clone Script
Binance NFT Clone Script
WazirX NFT Clone Script
Decentraland Clone Script
Axie Infinity Clone Script
NFT Token Development
NFT Marketplace Clone Script

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