Wall Street, Memes and NFTs

By Nico 4 weeks ago

Who would have thought that random contents made in online platforms such as wepik or any other, could transform into products sold for thousands of dollars as NFTs?
Just a bunch of people saw that, there was a business ready to explode in the world of memes, and here we’ll show you a little bit of how everything works.

How Did This Story Begin?

 

Dissaster Girl NFT Illustration

A few weeks ago, a piece of news opened the doors of a new market, for thousands of content generators all across the world.
“Disaster Girl” (this meme) was sold for over $ 500.000. So that girl who smiled over a flaming car, now has turned into a woman who smiles over her bank account.

The other news was this. Nyan Cat (a youtube video that in 2011 went viral and invaded every single platform, showing a cat merged with a toast flying through space), was sold for $ 580.000 marking two milestones:

  1. Chris Torres, its creator, woke up half a million dollars richer (who wouldn’t love that?).
  2. Every single content creator online, thanks to NFTs, has a new market displayed in front of them, with the possibility of earning money out of any creation.

How Do NFTs Work?

NFT stands for Non-Fungible Token, a kind of crypto token. Digital assets that can be seen but not touched and, most importantly, can be sold and bought. Just like gold increases its value because people say so, NFTs turn valuable the same way. It’s the same thing that happens with stamps, that increases their worth when collectors buy them. 

The main characteristics of NFTs are:
-They are permanent.
-Can’t be replicated.
-Can’t be faked.
-You can prove who’s the author or who’s the actual owner of the NFT.

One could wonder, how can I claim the ownership of a gif, if everyone is using it without asking anyone?

Well, with blockchains (a technology that has been available for more than 30 years), basically you can trace the movement of any content, leading to the original product.

Blockchains also allow us to detect if the NFT is a different version of the original, who’s modified them, and more, thanks to code tracking.

And so, a door opens to every content creator across the world to sell their productions exciting in a new way.

Sharing a picture, an illustration, a logo, a presentation. Any kind of contribution you can provide on the web, can be transformed into an income.

NFTs Applications

If someone wants something, someone else is selling it. Internet works the same way. That’s why every day there’s new places where you can find NFTs. Some of them are:

-Digital Arts
Like the previous examples of Nyan Cat and Disaster Girl. Any content creator that comes up with something such as memes, can sell them online.

-Collectables
The same way some collect stamps and baseball cards, others collect digital assets such as gifs and icons.

-Videogames
Inside certain games (most of them online), you can buy different kinds of objects. And yes, there’s an NFT market for that.

-Sports
When, for example, a club or institution releases a video with the best moments of a certain team, they’re really releasing content. And, like any other content, you can buy them as NFTs.
Practically, where there’s the internet, there’s a market for NFTs. In other words, any digital creation can be sold and bought.

Other Famous NFTs Sellings

 

Nyan Cat Illustration

These landmarks add to an everyday growing list that includes:

-The selling of actress Lindsay Lohan’s selfie for a rough sum of $17.000, which later on was resold for $57.000.
-A LeBron James gif for $100.000
-A Mark Cuban (one of Dallas Mavericks investors) tweet for almost $1000.
-”Hairy”, an animated clip with a song from DJ Steve Aoki, for almost $888.888.

Truth be told, some memes made history on the internet.
That makes us wonder, which one do you think should be the next big “sale”? Tell us in the comments below.

By Nico

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Comments

Reply to André

André
André

3 weeks ago

I love those grotesque sketches of faces back in the early days of memes. The originals would be worth gold today! Congratulations on your article.