Shine Projects makes a big bold move in technology and security by gearing up for NFT
Shine Projects, India’s fastest growing Edtech Company is making a bold move by embracing NFTs and is working towards converting its Financial Markets course into NFTs. NFTs are digital tokens in the blockchain network. These tokens are non-fungible, non-interchangeable tokens who have their unique worth unlike cryptocurrencies which are equivalent to another cryptocurrencies of the same kind.
NFT is the future of digital transactions. It’s an entirely new and augmented form of ownership, and it’s all verified on the blockchain. As a buyer of an NFT, one would need a digital wallet to store it. Cryptocurrencies like Ethereum are used to purchase NFTs. The recent announcement of 30% tax on income from transfer of virtual digital assets like cryptocurrencies and NFTs in Budget 2022 is an indicator that the government is noticing the value of this digital asset.
Currently, NFTs consist mostly of Digital arts, Music records, etc. A digital course as an NFT is a move unheard of. This pioneering move is being made by Shine Projects which is working towards incorporating this technology in the company. With innovation as its core, Shine Projects is integrating newest technology to empower people. Sri Harsha, CEO & MD, Shine Projects (https://www.linkedin.com/in/venkatasriharsha) forecasts a 1.33 Mn USD from the sale of this NFT and the proceeds shall be utilized to develop their courses and also in starting an NFT Hedge fund which is a revolution in itself- The company said in a press release. The uniqueness about this NFT is that it’ll pay dividends to the NFT holders during the record dates (Once in a quarter).
Now coming to how can a person invest in NFT? To invest in NFT a person needs to one would require three things essentially: A Cryptocurrency, A digital wallet to store it in: (you cans choose Metamask) which helps you to store your crypto and facilitate the transactions while your purchase or sell an NFT and a marketplace (One of the most commonly used websites which caters to NFTs is: OpenSea.io) where you can buy or sell an NFT.
From a growth point of view, Investment bank Jefferies in its report favoured NFT by raising its NFT market-cap forecast to more than $35 billion for 2022 and to over $80 billion for 2025. According to the experts, NFTs are in their early phase but they are here to stay, adding that NFTs are going to attract a much larger audience in the upcoming years.