The first half of 2021 was quite eventful, especially in the world of technology, with the arrival of a unique phenomenon. What was the phenomenon? Non Fungible Tokens or NFTs have caught the attention of almost everyone starting from curious internet users to large corporations. The formidable growth of popularity for non-fungible tokens in recent times has been responsible for driving demand for NFT careers.
Non-fungible tokens are obviously an explosive trend currently in the domain of blockchain with capabilities for transforming the representation of digital ownership. However, it is difficult for beginners to find the ideal path for building a career in NFT, especially considering the fact that it is a completely new technological intervention. The following discussion can help you find pointers for career development in the field of NFT.
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Is It Reasonable to Pursue Jobs in NFT?
NFTs are new, and they bring a lot of advantages. However, being new also comes with certain setbacks, such as the doubts of candidates regarding NFT jobs. Would it be feasible to pursue a long-term career in a domain that has emerged only in recent months? Well, there is a lot of hype around NFTs, and that is a good reason to invest your efforts.
On the other hand, beginners might also have concerns regarding the NFT ‘hype bubble’ bursting in the future. So, it is clearly evident that you should develop a clear impression of NFTs and how they work. In addition, you would also need a brief overview of the existing NFT market for understanding the market potential of NFTs. The fundamental goals of NFTs and the existing market statistics could show you the true potential of NFTs beyond the million-dollar NFT sales.
What Actually Are NFTs?
Almost every definition of NFTs points out the fact that they are digital tokens. It’s quite obvious, isn’t it? NFTs are different from any other digital token due to non-fungibility. Now, what is fungibility? Fungibility basically implies that any item, currency, or product could be exchanged for similar units. For example, if you have a ten-dollar bill, you could get two five-dollar bills in exchange for them or just another ten-dollar bill. Non-fungible tokens are the exact opposite of that.
Any non-fungible entity does not have any other identical equivalent with which you can exchange it. Take the example of a book written by a renowned author. Even if there could be many other copies of the book, they cannot be exchanged with the author’s original book. This would bring us to the topic of proving which one is original and which one is not.
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What are the Reasons for Increasing Demand for NFT Career?
Your search for NFT jobs might get easier with an understanding of what goes behind the working of NFTs. Non-fungible tokens leverage blockchain technology and smart contracts for offering the value of authenticity, flexibility, immutability, security, and transparency. They are basically digital assets on a blockchain in coded form.
The code for the NFT would link to the place of storage of the NFT and allows visibility into the ownership history of the digital assets. In this case, blockchain offers a reliable certificate of authenticity, thereby supporting reliable tracking of ownership to avoid counterfeiting.
After their inception in 2014, NFTs have come a long way in becoming one of the prominent topics of discussion in the world of tech. The year 2017 witnessed the rise of NFTs on Ethereum with new standards such as ERC-721 and collectibles such as CryptoPunks. With a total of $2 billion in NFT sales only for the first quarter of 2021, the NFT market definitely looks promising.
Looking at 2020, the total NFT sales amounted to $250 million, thereby proving the potential for growth of NFTs in the future. While there is no specific estimate of NFT salary, the promising numbers in NFT sales show that you can definitely earn a lucrative salary.
With so much hype about non-fungible tokens all around, are you wondering about their advantages? Here’s a detailed guide on the Advantages Of NFTs.
Pointers for Developing Your Career in the NFT Space
Now you can see how NFTs are more than just a few million-dollar sales. It has the potential to change the way we own assets and exert control over money. As a result, the prospects for a career in NFT definitely seem promising in present times. Although you can hear a lot of hype around NFTs, the same is not applicable in the case of NFTs.
Enterprises need professionals with NFT expertise such as NFT artists, marketing professionals, developers to leverage the power of these new digital tools. On the other hand, it is also reasonable to wonder how to find the best NFT jobs in the market. Here are some helpful pointers which can show you the way.
Develop Your Skills
Understanding the fundamentals of NFTs and looking at the market statistics would not help you build your NFT career. They are essentials for any beginner to identify the potential for career development in NFTs. However, you have to go through professional training and know NFTs on a more technical level.
You should try to discover online courses and study materials to help you build your knowledge of NFTs. The majority of NFT jobs would require you to dive right into the practical work. You could go through NFT whitepapers and documentation to strengthen your fluency in NFTs.
The more you study about them alongside reflecting on real-life examples, the more you can learn about them. Keep in mind that NFTs are a completely new concept, and the field does not have many experts yet. So, you should try to capitalize on this opportunity as fast as possible.
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Do Your Research
One of the prominent factors in searching for jobs in the domain of NFT would obviously refer to research. As a matter of fact, this is one of the golden commandments of job searching. You need to find out the top players in the NFT space and stay updated with their latest news.
With NFT being a completely new space, it is important to take a look at how the big names or pioneers made their way in the industry. Knowing how the pioneers started off in the domain of NFTs, you can definitely find the confidence to build your career in NFT.
You should also turn your attention towards researching the whole NFT domain and the art. In addition, you should also take a good look at the critics and different collectors of NFTs. Obtain an in-depth understanding of the technology underlying NFTs and find answers which could set the foundation for your NFT career.
Find the Groundbreakers
Prior to 2021, many people had never even heard of NFTs. So, it implies that anyone interested in NFTs could start their career in this field. However, you should try to look out for key individuals in the domain of NFTs. Industry experts, NFT traders, and collectors could offer reliable inputs for establishing your career path in the domain of NFTs.
Try to find out the academic and professional background of key people in the NFT space alongside their skills. Use the information to compare with your skills and find whether you are truly prepared for jobs in NFT. When you know you are fit for the NFT market, you are more likely to make your way easily through NFTs.
Another common addition among best practices for a job search in any field would refer to networking. The benefits of professional networking in finding suitable jobs are unquestionable. You can start with communities, and the best choice to start with would be the NFT artist community. NFT artists are quite active on social media such as Twitter and Reddit and engage in interactions with their followers.
Aspiring NFT beginners could easily discover opportunities for finding advice from the artists and content creators established in the domain. Candidates preparing for NFT jobs could find the community as a helpful environment for following artists and engaging with each other. The relatively small size of the community, with the industry being in its initial stages, is a prominent factor for boosting ease of access to expert advice.
Most important of all, you need to understand that the existing NFT market community relies profoundly on developing relationships alongside supporting each other. With the prolific opportunities for community support, it is important to find the scope for building your professional network. You can easily build connections in the NFT community on social media to expand your professional connections. As a result, you can easily find information about any promising NFT projects you can work on.
Practice Your NFT Skills
NFT creation basically involves encoding assets in the form of smart contracts on the blockchain. As an NFT developer, you would have to work on smart contracts. So, you need to show your skills as an NFT creator for achieving your desired NFT career objectives. The possibilities of a candidate landing up with an NFT job depend a lot on what they can contribute to the project.
Generally, NFT projects have many people working on them with different roles. So, you need to establish your capabilities for contributing value as an NFT developer with strong command over smart contracts and programming skills. As a smart contract developer, you need to have fluency in Solidity programming language. You can try out your skills in dummy projects and hone them for real NFT projects.
Build Your Potential to Deliver Value
The promises of a career in NFT do not rely only on your skills for creating NFTs. All the blockchain and smart contract programming skills in the world won’t get you anywhere if you don’t understand how they bring value. You need to understand how NFTs appeal to the buyers and, at the same time, know their value for different use cases.
As an NFT creator or marketing professional, you need to understand what the NFT can actually achieve. The understanding of the value of NFT could support aspiring beginners in discovering the best ways to create and implement NFTs. For example, NFT creators could identify novel elements which could maximize their value for buyers.
Don’t Stay in One Place
Candidates looking for NFT jobs should also note that NFTs are not limited to the field of artwork and collectibles only. The possibilities for applications of NFTs in many other sectors such as fashion, retail and online commerce suggest many possible career avenues in the NFT space. Therefore, you could have the advantage of choosing the sector you would like to work in with a career in NFT.
Among other factors responsible for developing NFTs, the ownership and control advantage of NFTs is an appealing factor for many industries. The emerging examples of real-world use cases of NFTs such as real estate and tokenization of licenses and certifications show noticeable prospects for their adoption in other sectors. So, you don’t have to worry about staying restricted only to a specific sector for the rest of your career.
Wondering how fungible and non-fungible tokens are different from each other? Here you will find the detailed comparison between fungible and non-fungible tokens.
Tips to Begin Your Own NFT Enterprise
Pursuing an NFT career does not mean that you must work on the NFT projects of other people. On the other hand, you can take the initiative to establish your own enterprise in the field of NFT. The huge amount of money involved in the NFT space presents a clear case for setting up shop in this industry. Here are some promising ideas which you can try out for beginning your own NFT venture.
- Start your own NFT online course
- High demand for secure and encrypted brokerages can help you earn commissions on NFT sales
- Publish your own NFT e-book
- Become a digital NFT artist and create digital, abstract art
- Write an NFT blog and create a forum related to the blog
Unlike many other sectors, the NFT market is comparatively new and would go through different stages of development. The same is applicable for your pursuit of career development in the field of NFT. You may not land up with success initially. However, you need to keep going on to find suitable prospects for building your fluency in NFTs. Professional training courses can help you get the conceptual understanding required for venturing into NFT careers.
On the other hand, only your practice can set you apart from the competition when it comes to jobs in the NFT landscape. Following the best practices for career development in NFT could help you find promising NFT projects for working on. At the same time, you also have the option of leveraging different ideas for setting up your own NFT venture. Start discovering more about NFTs right now for bright career opportunities.
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*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. Do your own research!