Given the fast-growth trajectory of this sector, you may want to consider pivoting your career ... [+] toward this direction. If you don’t currently possess relevant skills, consider taking relevant courses to upskill yourself. Getting in relatively early into a transformative sector usually leads to excelling quickly in your career.getty
In 2017, when William Quigley started an NFT platform, he wasn’t known as the “King of NFTs.” Instead, his Wall Street and tech friends wondered, with a little concern, what he was doing. In the early days, the Worldwide Asset eXchange (WAX) had around 400k members. It was decent, but not record setting.
Fast forward to 2021 and everything has changed. A confluence of events, including the pandemic sending everyone home and having extra free time, advancements in technology, the rise of public interest in cryptocurrencies, trading meme stocks online and a more comfortable feeling for new technologies, led to the boom in the NFT market. WAX rapidly grew to over 10 million members who are buying, collecting, selling and trading NFTs.
Quigley, the cofounder of WAX, a cryptocurrency and blockchain investor, the first institutional investor in PayPal, with over 25 years of experience as a technology-focused venture capitalist, explained NFTs to gain a better understanding of this explosive phenomenon. An NFT, he says, is like a tiny computer that could be programmed to send something back and forth through the blockchain. The embedded software coding shows ownership of the item. This creates trust nodes that you know what you own is authentic, genuine and provides trust.
People tend to visualize the Board Ape Yacht Club NFTs that could sell for large sums of money when the topic is raised. You may have recalled reports that Mike Winkelmann, better known as Beeple, sold a piece of work for $69 million at the prestigious Christie’s auction house. The sale placed Beeple “among the top three most valuable living artists.”
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