What is an NFT Avatar?

Each NFT avatar is completely unique, with an array of distinguishing traits (i.e., clothing, hairstyles, accessories, etc.). The avatars can be cartoon animals, humans or abstract creatures, with fantasy and science fiction elements. The market for NFT avatars grew rapidly in 2021, with numerous NFT avatars selling for millions of dollars.

What are NFTS & how do you use them?

NFTs are unique, immutable, and verifiable digital assets that can be used to represent anything from in-game items to artworks. One of the most popular applications of NFTs is in the metaverse, where they are used to create avatars.

How much does a NFT cost?

For instance, Visa purchased the Cryptopunk NFT "Digital avatar With Mohawk" for $150,000. Many other NFT avatar projects have also been well-received. Ten thousand Bored Ape Yacht Club NFTs were sold within a day of their launch, while the Penguin NFT Club sold a Pudgy Penguin for $469,000.

Should you invest in NFTs?

Often, a driving force in NFT value is celebrity engagement or endorsement. The World of Women collection gained popularity almost overnight thanks to celebrities like Gary Vaynerchuk and Logan Paul, as reported by Coindesk. If you’re looking to invest in NFTs in the long-term, you’ll have to keep your eye out for scams and hacks.