Ryan Kavanaugh and the NFT Revolution
Ryan Kavanaugh is an entrepreneur legend who’s been active in many industries. His most famous work has been with the social app Triller. As the predecessor of industry leader TikTok, it has several unique advantages but remains at the number two spot. That said, Ryan Kavanaugh has done much to increase the popularity of Triller such as giving users access to royalty-free music and partnering with many celebrities as well. Let’s take a closer look at Ryan Kavanaugh has applied his unique strategies to the latest investment craze, NFTs.
What Are NFTs?
NFTs are one of the most popular investment options on the Internet these days. Non-fungible tokens have been around for almost a decade but gained recent popularity due to their unique nature. Usually consisting of a piece of digital artwork, NFTs are tokenized and sold for various amounts. Since each NFT is encrypted, it is 100% unique and exists only within the digital space. The core concept here is that the purchaser owns the NFT forever, or at least until they decide to sell it.
Knowing a good investment opportunity when he sees one, Ryan Kavanaugh decided to get in on the NFT action. He has done this by creating several Triller-related NFTs in both video and still image format. Music NFTs have also been created featuring Dojo Cat, and Justin Bieber.
As you can probably tell, the NFT market is not unlike the art market. Value is subjective, and pieces are usually purchased with investment in mind. Understanding this fact has allowed Ryan Kavanaugh to strategically create and sell NFTs in a way that has not only been a wise investment, but also a means to increase the popularity of Triller. This two-pronged strategy is sure to pay off in the long run.
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