It’s Don Jazzy again! If you ever heard that in a song then you know who Michael Collins Ajereh is.

Don Jazzy, 39, is a record producer, Brand Ambassador (recently signed by Quidax), audio engineer, record executive, singer, entrepreneur, Influencer and, NFT enthusiast. He is the founder and the CEO of Mavin Records.

The music producer has been seen in comedy skits and was cast in Moses Inwang’s movie The Last 3 Digits in Nollywood. His production discography is longer than the litany of saints.

Don Jazzy’s foray into the world of NFTs may have started in 2021, and even mentioned making about 300,000 dollars in minutes trading an NFT. We assume he has been in the crypto space longer than last year though.

Now, he got a Bored Ape Yacht Club item (8752) for over 319,000 US dollars. NFT enthusiasts all know how much that will be in another three months.

The Bored Ape Yacht Club is a collection of 10,000 unique Bored Ape NFTs— unique digital collectibles living on the Ethereum blockchain. The Bored Ape doubles as your Yacht Club membership card and grants access to members-only benefits, the first of which is access to THE BATHROOM, a collaborative graffiti board.

You are asking “Um… what’s going on here?” It is the NFT space expanding and attracting more people across the world.

What are NFTs?

Non-fungible token.

“Non-fungible” alternatively means that it’s unique and can’t be replaced with something else.

Non-fungible tokens (NFTs) are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other. Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can serve as a medium for commercial transactions.

Investopedia

An NFT is a digital version of real-world objects like in-game items, art, music, videos and are assets. They are bought and sold online, cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.

Many NFTs may not be new items and may already exist in some form elsewhere, like iconic video clips from NBA games.

NFTs are popular these days because they offer a unique marketplace for digital assets with even companies creating their own NFTs as part of their marketing mix. Besides these NFTs allow users a flexible way to store, control, and protect the information related to their identity.  NFTs creatives can also receive royalties from their NFTs and receive a percentage of future sales of their NFTs.

An NFT can never be changed, never be adjusted, and never be stolen, thanks to the principles of cryptography that make the blockchain unique. NFTs are designed to give you something that can’t be copied: ownership of the work (though the artist can still retain the copyright and reproduction rights, just like with physical artwork). 

Investors buy NFTs for many reasons. Some are keenly interested in owning the underlying asset, while others may perceive value in the asset being tokenised into an NFT. Others may invest in NFTs as a way to learn more about blockchain technology.

Choose your hustle wisely.