The NFT market seems to be in a perfect shape. The news about successful NFT sale deals flood media: NFT rock images (very crude quality) sell for 400 ETH a piece, a 14-year old schoolgirl became a millionaire selling beluga NFTs on Solana, the founder of Twitter sold the screenshot of the first test tweet for a little less than three million dollars… If you want to own an encrypted ERC-721 Bible verse, there you go, just prepare a couple of Ether coins.
Wow. How much more news like this are we going to see in future?
And how long is this going to last?
We are going to discuss this and the NFT ART token in particular as soon as we go over the basics.
NFT art finance price prediction: introduction
The latest market boom must be well-substantiated. Of course, the market sentiment plays a major role, but NFTs do introduce a new kind of value to blockchain.
NFT art finance price prediction: what is the intrinsic value of NFTs?
- First and foremost, blockchain cryptography makes it practically impossible to forge a digital asset. There cannot be an inauthentic NFT (an illegal copy of the original) on chain. The time stamps (or block number), creator data, and transaction history of a particular asset are always openly available on a respective blockchain explorer. Therefore, NFTs are verifiably unique and scarce.
- In the case of game assets, NFTs grant true ownership. Digital in-game objects can be traded, transferred, or used in different multiverse games.
- Finally, NFTs are more durable than material objects because their data is stored on a decentralized ledger, blockchain. To destroy an NFT one would have to take the whole blockchain down.
NFT art finance price prediction: what are the applications of NFTs?
We have just mentioned blockchain game items as one of the possible applications of non-fungible tokens; the other major sphere is digital art.
The most common form of art found on various chains is images and animations, but the team behind NFTART token took music into consideration as well.
NFT art coin price prediction: sell or accumulate?
Hope you forgive us for using the terms “coin” and “token” interchangeably. This is not technically correct but for the sake of simplicity, we stick to this wording.
A more or less accurate price prediction must be based on past performance, token economy model, usefulness, user base, and partnerships with other businesses. Let’s review these one by one.
NFT art coin price prediction: NFTART properties
NFT art finance is a Binance Smart Chain utility token, used on enter.art and enter.audio NFT marketplaces. The most notable property of the NFTART token contract is its deflationary model. 5% of each transaction are burnt, another 5% get redistributed between the token holders.
Its maximum supply is 100,000,000,000,000,000 (hundred quadrillion) tokens and roughly 30% of this number are currently in circulation. The Coinmarketcap team could not track the live data on this token, so the numbers are reported by the developers of NFTART.
NFTART launched in March 2021 without pre-sale; the price briefly skyrocketed and has been plummeting ever since. Even after a brief optimistic bitcoin surge this October, the NFTART price trendline continues to face downward.
It now trades on PancakeSwap for millionth fractions of a cent.
NFT art coin price prediction: Enter.art and Enter.audio
NFT-art.finance is the central website of the Enter ecosystem where you can acquaint yourself with the team, discover their roadmap and achievements, and take a look at their very brief Whitepaper.
In a nutshell, this project is built by artists for artists. The reduced transaction costs of BSC and underlying token economy ensure a low entry barrier for creators, offering means to profit long-term at the same time.
A visual art marketplace and an audio-focused one are already operational. Artists sell their creation for billions of NFTART tokens, which roughly falls into a range of 1-20 dollars. As the token itself is very volatile, it is impossible to predict one’s income.
You’ll notice that the platform creators are very serious about property rights, which means that you cannot submit your art with nothing else but your wallet address. The identity verification procedure won’t allow you to stay anonymous: if you value your ownership rights higher than privacy, check it out.
NFT art coin price prediction: NFTART team, partnerships, and social media following
Apparently, the team behind the Enter ecosystem never made popularity their priority (the stealth-launch of their token indicates that, for instance).
They did not list dozens of partners’ logos on their website. Nonetheless, 30K discord members is a powerful community to sustain the token price and drive it up when the right moment comes.
NFT art finance prediction: the market risks
As we said, the price history does not give us any reason to rejoice in anticipation of the upcoming “mooning”. After the speculative bubble of April 2021 burst, the NFTART price steadily crawled down. It briefly went up in October, but it was still nowhere close to the previous all time high.
Even if the price trend were optimistic, you would have not been able to make a realistic prediction. Remember how Bitcoin proponents prophesied its price to hit $100-150 thousand by the end of summer this year?
NFT art finance prediction: the threat of the bearish market
Everyone is into NFTs now. This excitement reminds us of the hype around ERC-20 tokens right after their appearance. The interest towards NFTs is likely to wane, too, and their prices will lower down as soon the market is flooded.
The demand for NTFART is already low; the project as a whole is immature. So when the bear market does come, the price will go even lower.
NFT art finance prediction: what could save the day for NFTART & the verdict
The Enter ecosystem needs a proper marketing campaign, influencer support, more collaborations, online exchange listings, and a bit of speculative trade.The unique deflationary economic model of the token has not been able to fuel its price so far. But when it gets more recognition, the results may be mind-blowing.
Consider NFTART a high-risk asset. It won’t hurt to diversify your portfolio with it provided that the majority of your assets are stable and reliable. Never invest the amount you are not ready to lose and be prepared to hold this token for years.