For the past year to a year-and-a-half, non-fungible tokens (NFTs) have been all the rage. In March 2021, a digital artist named Beeple sold a collage of his art titled Everydays: The First 5000 Days for more than $69 million. Since then, NFTs have been the coolest thing on the block since crystal meth. Good thing they’re not as deadly.
From CryptoKitties to CryptoPunks, NFT investors have bought and sold billions of dollars worth of tokenized digital art. But why?
Why Are NFTs So Popular?
The most expensive NFT ever sold was a piece called The Merge. It sold last December for $91.8 million. The top 10 best-selling NFTs of all time grossed a total of over $500 million collectively. But what are the buyers doing with them?
Most people buying NFTs are doing so to make a profit. They want to buy low and sell high. But there is an inherent risk in collecting digital assets just to resell to another buyer. For one thing, crypto itself has high risks. But buying tokens in the hope that they increase in value takes that risk one notch higher. That may be why more than half of all NFT investors are losing money.
The second highest reason people buy NFTs is to become a part of a community. After all, humans are social creatures.
There are other reasons to buy NFTs, though. Some people just like to collect digital art. In fact, 12.4 percent of people surveyed said that’s why they purchase NFTs. Others like to access games or other tools, which some NFTs are programmed to do.
For that 12.4 percent that collects digital art, there is not something else that can be done with those NFTs, but it could cost $9,000. NFT frames are starting to catch and that could allow collectors an open passage to putting their NFTs on display in their physical abodes for no other reason than to impress their friends.
What Does an NFT Frame Cost?
People have been known to do all sorts of things to impress their friends. They’ll spend hundreds of dollars on expensive jewelry, thousands on automobiles, and even more on big houses. But if you really want to impress someone, hang that Bored Ape on your wall.
If you spent millions of dollars acquiring your favorite digital artist’s winged war babies, you’ll certainly want to display them in the best frame money can buy. On the other hand, if all you have is a Loopy Donut, then you probably don’t want to spend a fortune. There’s an NFT frame for everyone.
Here are some of the best NFT frames on the market, from the lowest price to the highest:
- Netgear has a smart picture frame for $299.95.
- You can build your own NFT frame for a measly $360.
- Tokenframe digital art displays start at $333 and go up to $2,777.
- BlockframeNFT frames start at $565 and go up from there.
- Samsung has a digital photo frame for $1,699.
- Lago sells their luxury NFT frames for $9,000.
As you can see, there are different price points based on collectors’ needs, but if you’re looking to frame your NFT, you’re going to need something more than your smartphone.