Sibel, the maverick NFT entrepreneur whose stunning rise in the world of NFTs is inspiring millions, is a passionate supporter of NFT projects based out of Turkey. Her secret to success lies in discovering opportunities in markets that have much to offer but little competition because people are unaware of them. Turkey is one such destination, she says.
Turkey: An Emerging NFT Powerhouse
When Turkey’s currency, the Lira, started losing its value, Sibel had the foresight to understand that this challenge for the country also presented an extraordinary opportunity to adopt cryptocurrency and NFT technologies. She pursued the relatively unexplored Turkey market with a passion and became one of the early entrants, which allowed her to dominate the NFT market in certain pockets of Turkey.
According to Sibel, Turkey’s NFT landscape is now rapidly heating up, just the way it is happening elsewhere in the world. With the awareness and encouragement from NFT leaders such as Sibel, many renowned artists from the country are now at the forefront of the adoption of NFT. Some creative technocrats also use AI and machine learning to craft exceptional NFT artwork in Turkey.
Innovative Platforms to Build and Sell NFTs in Turkey
With project support from Sibel and other like-minded NFT global champions, the Turkish people are now utilizing several innovative platforms to create and sell NFTs. Presently, one of the most popular NFT marketplaces is OpenSea.
Sibel recommends new and upcoming NFT projects such as Genesis Mint. “With the Genesis Mint, you don’t just get an NFT PFP; you also get tokens airdropped to your wallet,” she says. The Turkish market also offers alternative options for individuals who don’t want to pay a high gas fee. For lesser-known artists, eco-friendly platforms are now available in the NFT space, Sibel says.
Low Regulation in a Growing NFT Market
In Sibel’s view, while the NFT transaction volumes among Turkish consumers are rising fast, there is little to no regulatory framework at present to tax these transactions in the country. She believes that since the overall market for NFTs is set to grow exponentially in 2022, it is only a matter of time before Turkey’s regulatory agencies develop and introduce new laws.
Sibel says this will be a positive step in the long run because some regulation is needed to protect consumers. It will only give an opportunity for further market expansion.