[03/03/2022] Companies such as Anheuser Busch (the parent company of Budweiser) and Adidas have plunged headlong into the world of NFTs, with seemingly huge success. Within 19 hours of launching in January, Budweiser’s 11,000-unit NFT collection sold out, netting the company $4.8 million.
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Analysis of the NFT market, which does not track all sales, still shows how big the business opportunity is: more than $77 million in NFT sales it trades every 24 hours, making it an obvious opportunity for companies to get into it.
The lure of large sums of money, as well as media attention, can draw organizations to the NFT concept. But before you fully commit to building your own collection, it’s important to understand the risks and rewards.
1. What is NFT?
It’s always a good idea to understand what you’re potentially investing in before jumping in. “What most people consider NFTs to be is an art,” says Nick Donarsky, founder Throttle system based in Madison,…
