The cryptocurrency market has only seen growth in the last few years. Although the general market fluctuates a lot, the blockchain, in general, has gained worldwide popularity. People have begun raising their voices to integrate blockchain technology into various parts of their lives, including governments.
Protection of endangered species is one of the many things that millennials concentrate on.
It is by far greater than what the previous generations had in terms of conservation. In this article, we will look at why animal NFTs are becoming popular among millennials.
What Are Animal NFTs?
NFTs are often referred to as non-fungible tokens and they can be collected by people by paying for them with cryptocurrencies. You cannot, however, have them copied or replaced. The animal NFTs are also known as crypto artworks.
They are very limited in number and are considered expensive possessions. Animal NFTs were created to raise awareness and funds for 10 critically endangered species. There have been a lot of funds created by using the millennials’ purchasing them.
The Top 5 Reasons For The Popularity Of Animal NFTs
There are many reasons for millennials to have fallen in love with animal NFTs. However, we look at the top reasons why millennials have fallen in love with them. In the process, they have also made it popular for people of other generations to collect them.
Unlike the generations before or after them, people born during the period 1981–1996 have a particular concern for animals. In this specific period, they have seen many animals go extinct. They have begun to understand the importance of conservation.
The understanding of the need for animals to coexist with human beings is something that is now understood. With each animal going extinct, there are consequences. The food cycle is beginning to change, and more problems with the environment are presented these days.
This awareness can be due to the internet and technology millennials have access to. The news of extinction or the need for conservation spreads faster than wildfire. Therefore, they are more inclined to do their part in the protection of animals that are endangered.
2. Need for Funds
Everyone now understands that conserving endangered animals is not possible without adequate funds. Funds should come in such a way that they are dedicated to the purpose of conserving the top 10 critically endangered species of animals.
Therefore, they have started collecting animal NFTs. These NFTs are a great way to contribute to the process of conservation. There has been a lot of money collected and used towards the conservation and preservation of these animals.
The news about the need for money also spreads faster among millennials. Animal NFTs can contribute better and faster towards this cause. It helps them achieve their goal of raising massive amounts of money that only goes towards this purpose.
3. Social Media Platforms
One has to give it to the social media platforms available today. These platforms are a way for everyone to understand why these animals are so critical to the ecosystem. By creating awareness among others, they are slowly but surely getting there.
They have formed groups on social media platforms and started creating awareness of these projects. Popular personalities from different industries have also begun contributing to the need for conservation, understanding, and raising funds through websites.
These factors prove critical towards the cause of conserving, preserving, creating awareness and raising funds for these animals. The revolution this has created would have to be due to social media platforms, the internet, and the forums on it.
4. Continued Royalties
Despite the animal NFTs being brought or sold, they continually send royalties to their custodians of animal NFTs. It becomes a way that, despite being bought or sold, they would contribute to the welfare of the critically endangered animals that are around now. Some NFTs like Patient Panda NFT give royalties to prevent extinction of those endangered animals.
It means that, regardless of how the animal NFTs are used, they continue to contribute to the cause. It would be to protect, conserve, raise funds, and create awareness of the most critically endangered animals in the world right now.
If continued royalties were not part of animal NFTs, they would not have gained the popularity that they have at the moment. The royalties inevitably keep going to the custodians of the animal NFTs. It is unlike how cryptocurrencies are traded in the market.
5. Purchase is Simple
The person purchasing the animal NFTs can choose to remain anonymous. It is because you need a cryptocurrency wallet to acquire it. Purchasing through them would mean that you could remain anonymous without being traced. The ease with which it happens is astonishing.
People who trade with cryptocurrencies prefer to remain anonymous. Therefore, anyone who purchases animal NFTs can also remain anonymous. You need not use your financial credentials to purchase animal NFTs. All you need is a cryptocurrency wallet.
You can go online and purchase it with your cryptocurrency wallet and the available cryptocurrencies in it. Since blockchain technology is involved in every transaction, there are no chances of a person being traced or robbed of their crypto.
Unlike trading cryptocurrencies, buying animal NFTs has money going towards a good cause. Therefore, there is no need for anyone to think they are personally benefited by it. Despite the potential profits you can earn by selling them, you are constantly contributing to the preservation and conservation of wildlife.
The reasons we have listed above are the simple ones that have made animal NFTs relatively popular among millennials. Even if you do not belong to the millennials, you can still contribute to this good cause by purchasing animal NFTs as collectibles, starting from today. Every penny you spend on them will continuously serve the cause for years to come.