While most people are still trying to understand what cryptocurrency is and how the blockchain technology works, there is a new investment method in the NFT world. Would you like to meet the Yat?
A Yat consists of a string of emojis that are currently available for use as a URL. It can be used to make electronic payments soon, according to its creators. It may look and sound strange, but many investors are already flocking to this method, and willing to spend big bucks.
Now for more background on the company which invented the Yat. Yat Labs is the company which developed this technology and has sold 160,000 units since February 2021. The value of the yats sold so far amounts to $20 million. One buyer spent $425,000 to buy a single emoji character key, and another bout a two emoji combination of moon/rocket ship for $200,000.
If you want to buy these characters, you can get a range of one to five. Some cost just $4 and most 3 emoji combos cost hundreds of dollars. Most Yats are available in a combination of 3 or 5. The popularity of the emojis determine the price. And most of the Yat combinations have already sold out, especially the eggplant set. The site accepts credit cards, GPay and even crypto currencies.
If you are interested in buying one- or two-character yats, you will have to buy them at a virtual auction and not directly from the site. Be prepared to pay a hefty price as they can and do escalate, at auctions.