Kanye West Presently Doubtful About NFTs
As the whole world begins to embrace the wonder and excitement of NFTs, billionaire-rapper Kanye West recently requested his fans to stop asking him to do an NFT endorsement, setting him apart from many of his contemporaries.
It is no surprise that NFTs have taken the globe by storm in the last two years. However, Kanye West has clearly stated in an Instagram post, which has now been deleted, that he will not consider promoting any Kanye West NFT as of now.
While he may have declared in big, black, bold, permanent marker ink that he is stepping back from NFTs, for now, there is still a real possibility that he will get in the NFT game, like everyone else.
The world economy is hurriedly adapting itself to the virtual developments, and NFTs are a product of these innovations in finance. Kanye West, unfortunately, refuses to comment further on his decision regarding NFTs, except for a short statement that he prefers the “real world” and its “real products”. Although NFTs are digital collectibles, the returns are very much real, as per the observed trend.
It is not just Kanye West who has been approached with the opportunity of having his own NFT. Several of the most famous celebrities and renowned names all across the globe have wisely endorsed and dropped their own NFTs, giving it another layer of trust.
The first NFT, an artwork named ‘The First 5000 Days’, for example, was sold by the renowned artist, Beeple for the hefty sum of $69 million. Pop-culture influencers, Justin Bieber and Paris Hilton have already dropped their very own NFTs, and their fans could not be happier. Former First Lady, Melania Trump too did not leave any stone unturned, and dropped her very own NFT- ‘Melania’s Vision’, available for purchase on Solana.
The far-reaching possibilities of NFTs do not stop at art alone, Twitter founder Jack Dorsey recently sold his first ever tweet for over $2.9 million. Lionel Messi and Stephen Curry, the two sports legends in their own right, quickly dropped their own NFTs focused on their personal, collectible, digital art, and are now raging successes in the crypto marketplace as well.
Are NFTs the right choice for you?
The potential of NFTs is endless. Some of its many pros include its efficiency in the marketplace. NFTs, for example, connect artists and owners of works of art directly to their customers, erasing the need for middlemen, streamlining the trading process further.
What is incredibly unique about NFTs is that it is an investment tailored to the long-term vision. Since NFTs deal with distinct characters, like crypto art, that are only guaranteed to increase in value as years go by, all an investor does is sit back, relax, and reap the benefits.
For an artist like Kanye West, who has a diverse portfolio and is vocal about his varied assets, an NFT would be a good bet. NFTs effortlessly link the future of art, entertainment, movies, music, finance, policies, etc., with the advantages of a digitalized, decentralized exchange system.
NFTs are the bedrock for the age of digitization, with its anonymous, non-interchangeable, decentralized approach, users’ privacy remains safely guarded, and worrisome transactions are simplified.
NFTs also allow physical assets to be traded in a virtual format, thus, making it easier to trade, gift, or sell. This increase in flexibility and opportunity for diversification is unique to NFTs, features that many other cryptocurrencies lack.
There are a variety of NFT marketplaces to choose from, making your investing process smoother. NFTs are a tactical option to invest in, after careful consideration. NFTs, with their security measures, guaranteed long-term returns, and non-physical format are not just a fad.
Investing in NFTs now is a way to secure your future. They say strike when the iron is hot, and choosing an NFT of your choice will help you multiply your savings. Kanye West may not fully grasp the revolutionary nature of NFTs presently, but with NFT’s robust infrastructure and rising significance, he may soon change his mind.
