NFTs (non-fungible tokens) ARE HOT!
NFTs are a relatively new technology that make it possible for anyone to truly own digital content such as items in video games, digital works of art, music, videos, etc. These assets are "non-fungible," meaning they can't be replaced or exchanged with an identical asset of the same value. Every NFT is one of a kind. Only one person can own a specific NFT at one time. NFTs can be traded on a marketplace, and each NFT's transaction history is recorded on a blockchain.
This could revolutionize so many industries. Photographers, musicians, digital artists, content creators, and writers could tokenize all of their work and no longer worry about people stealing their intellectual property. For example, if an artist wants his/her drawing to be extremely rare, he/she can choose to make only 5 copies in existence. Or think about how much the music industry has suffered since the Internet found its way into every household. NFTS could make it possible for musicians to receive royalties every time their songs are played or shared.
And don't even get me started on the video game industry. For example, imagine if every item in Fortnite was tokenized. The developers could release a rare skin, say.. 10 in existence, and the scarcity alone would give it insane monetary value. Then what if the players could trade their skins, emotes, or whatever. Being able to earn or find rare items in video games would be a huge incentive for so many gamers.
The possibilities are endless with blockchain technology. NFTs are super exciting, and that brings me to this little stock right here. YVR has a really small market cap compared to other companies involved with NFTs, so it has lots of room to grow. If you look at the chart, there are many bullish indicators which I've already demonstrated. In my opinion, this is just the beginning of the NFT craze, and if you're looking to get in, YVR looks to have one of the best risk/reward ratios compared the the others. If it successfully retests the old resistance as new support, I'd buy as much as I can if I were you.
This could revolutionize so many industries. Photographers, musicians, digital artists, content creators, and writers could tokenize all of their work and no longer worry about people stealing their intellectual property. For example, if an artist wants his/her drawing to be extremely rare, he/she can choose to make only 5 copies in existence. Or think about how much the music industry has suffered since the Internet found its way into every household. NFTS could make it possible for musicians to receive royalties every time their songs are played or shared.
And don't even get me started on the video game industry. For example, imagine if every item in Fortnite was tokenized. The developers could release a rare skin, say.. 10 in existence, and the scarcity alone would give it insane monetary value. Then what if the players could trade their skins, emotes, or whatever. Being able to earn or find rare items in video games would be a huge incentive for so many gamers.
The possibilities are endless with blockchain technology. NFTs are super exciting, and that brings me to this little stock right here. YVR has a really small market cap compared to other companies involved with NFTs, so it has lots of room to grow. If you look at the chart, there are many bullish indicators which I've already demonstrated. In my opinion, this is just the beginning of the NFT craze, and if you're looking to get in, YVR looks to have one of the best risk/reward ratios compared the the others. If it successfully retests the old resistance as new support, I'd buy as much as I can if I were you.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.