New research reveals how many NFTs you’d need to sell to buy some of life’s dream purchases
A new report suggests that photography-based NFTs are the most profitable, with sellers expected to earn up to 2,000% more than some other industries.
The NFT report, created by e-commerce expert Remarkable Commerce, seeks to highlight the true value of non-fungible tokens (NFTs) as Starbucks launches its new NFT community, Starbucks Odyssey.
Remarkable analyzed over 700 NFT collections on the market, 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 found how many NFTs the average person would need to sell 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 minimum price for an NFT photograph on OpenSea is almost £900 (897.15), compared to £38.45 for those in the business card industry.
the most profitable industries for NFT sellers
Established photographers considering switching to NFTs can expect to earn around £897.15 per item – 2,233% more than business card NFTs, which come in at around £38.45.
The survey also found that the average photography NFT seller would need to sell four NFTs to pay for an engagement ring, 23 to pay the average wedding bill and 29 to buy a Jackson Pollock painting – with the average painting selling for £25,771 .
Commenting on the survey, Brad Houldsworth, Head of Product at Remarkable Commerce, said:
“While they are still relatively in their infancy, NFTs have conquered the world. The monkey images have sold for hundreds of thousands of pounds, and a number of e-commerce brands are now looking to get a slice of the pie, whether it’s Adidas, Gucci or Selfridges.
“NFTs can help photographers get more credit for their work and get more direct revenue from their photos. As the world becomes more digital and the metaverse looks set to revolutionize the way many companies do business with and converse with their customers, it will be interesting to see how companies factor NFTs into their growth strategy.”
For the full survey, including a breakdown of costs by industry, visit: https://remarkable.net/downloads/nft-price-engagement-ring/