Non-fungible tokens, or NFTs, are digital goods with unique ‘footprints’ that prove their ownership and authenticity. Like cryptocurrencies, NFTs store data on a blockchain and can prove authenticity using the transaction history. Unlike cryptocurrency, each NFT is unique and cannot be exchanged with another even if they are similarly valued. Because of this, NFTs are often used to sell digital art and similar collectibles as unique, verifiable, and easily-tradable assets. In this way, NFTs can even be seen as an evolution of more traditional art collectibles and actually share many of their advantages. At the same time, development has made NFTs more unique than over, and there is no better time than today to buy NFTs.
Why buy NFTs
NFTs are investments and stores of value
Like fine art pieces, NFTs can be purchased as investments and are generally expected to maintain their value. The current NFT market is bigger than ever, with sales ranging between 10 to 20 million USD per week. Like traditional artworks, rarer pieces tend to fetch a higher price. Limited art collections such as Cryptopunks and Cool Cats, which contain 9,999 pieces of digital art, can sell for anywhere from thousands to millions of dollars. Rarer individual pieces, such as Pak’s The Merge, can sell for as much as 91.8 million USD.
The Fraternity Apes Party is an upcoming limited collection made up of 3,333 apes with two things in common – a love for NFTs and a passion for raging. The value of each Frat piece, however, goes further beyond the digital art pieces themselves. Its example can show how NFTs can have added value that cannot be found in traditional collectibles.
NFTs represent communities with specific interests
Behind the digital art, each NFT often represents a community with a common defining goal or interest. For example, The Honey Bee Club aims to use NFTs to help raise the world’s declining honey bee population. At the same time, there are also more general interests like Crypto Baristas, whose buyers are united by a common love of caffeine and company.
The Fraternity Apes Party community, on the other hand, is united by their love for rage and party. Through this passion, the Frat has also attracted top-class members like celebrities, influencers, and entrepreneurs. Such personalities include serial entrepreneur Carter Jamison and digital branding prodigies Luke, Jordan, and Jackson Lintz. To attract such members, the Frat offers exclusive services specially catered to its members, another aspect commonly found in NFTs today.
NFTs are keys to exclusive services and content.
To build their community and further add value to their tokens, NFTs often lock exclusive services and content behind the purchase of their NFTs. One of the most well-known examples is Stoner Cats, which locks an exclusive adult animated series to owners of Stoner Cats NFTs.
For Fraternity Apes Party, the community is planning a slate of the world’s wildest exclusive parties throughout 2022 to build a stronger network of NFT minters. At the same time, a percentage of the proceeds will also go to a rainforest charity, while ticket giveaways to exclusive events like concerts and celebrity meet-and-greets will also be done to boost membership.
The Fraternity Apes Party will be minting a total of 3,333 pieces in its first drop of the year. 333 people could take part in the presale and mint as many as 3 NFTs each. And of course, the first drop will be followed by a banger mansion party in Miami which is open to all holders. Three lucky presale participants would even get a free flight to Miami just for the special occasion! Other benefits include private masterminds, a community wallet for various spending, donations to help the rainforest, and much more.
While waiting, you may follow the project through their Instagram @fraternityapesparty or by joining their Discord channel.
*This article has been paid. The Cryptonomist didn’t write the article nor has tested the platform.
Source: https://en.cryptonomist.ch/2022/02/11/three-unique-reasons-to-buy-nfts/