You must have heard about NFTs by now. Even if you’re not completely sure what an NFT is, maybe you’ve heard the word in conversation or seen it online. Non-fungible, meaning they cannot be replicated, tokens are leaving an imprint across various industries while their popularity continues evolving in the mainstream media. It’s safe to say that the buzz around NFTs has permeated into areas outside of the crypto space. An NFT can be anything digital, therefore the possibilities are endless. Plus, anyone can create an NFT which makes them appealing to a broader audience.
In the music industry, we have artists like Tory Lanez and Rich the Kid releasing NFTs. Lanez released an NFT-based album, “When It’s Dark,” in August and sold out in 60 seconds. Purchasing Rich The Kid’s NFT, RICH KIDS, includes participation in a community trust fund and other community-selected perks. Entrepreneur and investor Kevin O’Leary recently illuminated the monumental potential he sees with NFTs utilized as certificates of authentication for physical assets such as expensive, rare or vintage watches. Lets not forget about musician and singer-songwriter Grimes making $5.8 million when she sold her digital art earlier this year. Fortunately, popular celebrities are not the only ones profiting from the NFT craze. The official @NFT instagram recently posted how to create and sell an NFT in 5 minutes. Which simply demonstrates that developing, creating and investing in NFTs is possible for anyone interested.
Some view investing in NFTs as risky and, while they can be, others see the massive potential that they are bringing to the market. Chief Visionary of the TendieSwap ecosystem, the Wizard of SoHo, believes that NFTs are the future because they ultimately give power back to the people. The Wiz has a decade of experience on Wall Street and when he isn’t buying and trading on the market or working with the TendieSwap team, you can find him on instagram casually riding in a helicopter or drinking expensive wine in front of some sort of immaculate view. He shares daily market tips, NFT updates and post-meditation motivational notes.
While he may live a lavish lifestyle at first glance, Wiz promotes a “work hard, play hard” hustler mentality. If he isn’t trading multibillion dollar fixed income portfolios or opening his own winery, he and the Tendie team are working on TendieBets, TendieSwap’s blockchain casino, and their own recently released Chunky Chickens NFTs. Wiz and the Tendie community built out their Chunky Chickens project in 48 hours from start to finish, crowd raised $1 million dollars, and sold out of Chunky Chickens in less than 24 hours.
If that doesn’t sound insane to you, let me emphasize that it definitely is. A group of self-proclaimed “under dogs” released their very first collection of NFTs with chickens in silly outfits and, with the help of their loyal community, crowd raised $1 million dollars in under 24 hours. The Tendie community rallied other communities to raise the funds and the entire project took 48 hours from start to finish which is impressive on many levels. If anything this reveals the promising potential behind community-based NFTs in addition to a significant shift in the market which the Wiz welcomes with open arms, “Decentralization through NFTs is disrupting the future of private equity and finance. Using hedge funds and shark VC firms aren’t necessary to raise money for new companies. Instead they can build communities and tap in to raise funds.”
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