New research reveals how many NFTs would you need to sell to buy some of life’s dream purchases
A new report suggests that photography-based NFTs are the most lucrative, with sellers expected to make up to 2,000% more in revenue than some other industries.
The NFT report, created by ecommerce specialist Remarkable Commerce, looks to highlight the true value of non-fungible tokens (NFTs) as Starbucks debuts its new NFT community, Starbucks Odyssey.
Remarkable analysed over 700 NFT collections on the marketplace, OpenSea, to reveal the most profitable areas of the industry – and those where people would have to sell hundreds of NFTs just to match the average salary.
As part of the research, Remarkable Commerce also discovered just how many NFTs the average person would need to sell in order to be able to afford some of life’s most ambitious purchases, including a house deposit, an engagement ring, a new car and even a Jackson Pollock painting.
The average floor price for one photography NFT on OpenSea is almost £900 (897.15), compared to £38.45 for those in the trading card industry.
The Most Lucrative Industries for NFT Sellers
|Industry||Median Sale Cost in £ (Converted from Ethereum)||Rank|
Established photographers considering making the move to NFTs can expect to earn around £897.15 per item – 2,233% more than trading card NFTs, which fetch around £38.45.
The research also found that the average photography NFT seller would need to sell four NFTs to afford an engagement ring, 23 to foot the bill for the average wedding, and 29 to purchase a Jackson Pollock painting – with the average painting retailing for £25,771.
Commenting on the research, Brad Houldsworth, head of product at Remarkable Commerce, said:
“While still relatively in their infancy, NFTs have taken the world by storm. Images of apes have sold for hundreds of thousands of pounds, and a number of ecommerce brands are now looking to get a slice of the pie, whether it be Adidas, Gucci or Selfridges.
“NFTs can help photographers to be better credited for their work, and make more of a direct income from their photos. As the world becomes more digital and the metaverse looks set to disrupt the way that many businesses trade and talk to their customers, it’ll be interesting to see how businesses consider NFTs in their growth strategy.”
For the full research including a breakdown of costs by industry, please visit: https://remarkable.net/downloads/nft-price-engagement-ring/
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