YIELD App, a digital wealth management platform, has collaborated with African Blockchain University (ABU) to enrich African artists about the value they can get from the booming non-fungible tokens (NFTs) sector.
Speaking through the press-release, Sebastian Savolainen, YIELD App’s regional director for Africa, welcomed this move and said:
“Bridging the gap through education and providing access to digital assets is at the heart of everything we do at YIELD App and inspired us to help with this initiative… we hope to teach these inspiring and talented artists how to earn and invest their earnings from NFTs safely, and profitably.”
Africa Blockchain University is a non-profit institution committed to boosting blockchain technology across the African continent through project incubation, training, research, and policy advocacy.
NFTs and blockchain awareness will be created among African artists based on this collaboration, bridging the gap between traditional and digital art. Blockchain technology and decentralized finance (DeFi) skills are expected to create wealth creation avenues.
NFT defies the odds to become the 2021 word of the year
Meanwhile, according to Collins Dictionary, the word NFT has made headlines and caught public attention this year.
Experts at Collins suggest that they chose NFT to be the word of the year based on its “meteoric rise in usage” in 2021, rising by 11,273%.
NFTs are blockchain-based digital assets whose value is pegged to their uniqueness because they are non-divisible and have to be bought wholly. As a result, these traits create intrinsic value for NFTs based on their limited supply.
The NFT sector has experienced an uptick in activities, given that these tokens are different from coins like Bitcoin (BTC) because of fungibility. For instance, NFTs recently topped $10 billion in secondary sales, with ETH taking the lion’s share with more than $6 billion.
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