Unless you’ve been living under a rock, chances are, you’ve probably heard of NFTs and why they’re the hottest new investment trend this year. Not only is the world of NFTs exciting and new, but it also seems to be very lucrative, if you know how to play the game. There’s plenty of money to be made from NFTs, so you better catch up if you want to keep up!
Even though it’s still in its early stages, there are still plenty of things you can learn about NFTs right now. If you’re looking to refresh your memory or learn a thing or two about NFTs, you’ve come to the right place. Here’s everything you need to know about NFTs, what they can offer you, and how to get involved. Learn the ropes now and stay ahead of the massive wave that’s about to hit!
What is an NFT
Before you can learn about the many financial benefits of NFT trading, you first need to know what they are. NFT stands for “non-fungible token” which basically means that it is a unique item that you can trade for something else. Fungible items are things that you can trade for other, similar things. For example, you can trade one bitcoin for another bitcoin, or trade one currency for another and this is considered fungible trading.
Since NFTs are non-fungible, you can trade one for another completely different one, each with its own value and popularity. From digital illustrations to video game accessories, to online collectibles, anything can be an NFT. At the moment, the most popular and lucrative form of NFTs is digital art. These digital items can be valued at insanely high amounts, so it makes sense why so many people are flocking to buy some.
How to collect and trade NFTs
If you’re familiar with trading cryptocurrencies, you’ll get the hang of NFTs in no time. NFTs are linked to the blockchain network, so the best way to start trading is to take a note from crypto traders and look for an online trading hall.
Since NFT trading is still rather new, it’s a good idea to find a marketplace that is accommodating and easy to use. Those at jungle say that marketplaces should be for everyone, from early adopters to expert traders. Once you’ve found the right marketplace, you can start browsing for art and projects that you’d like to invest in.
It’s easy once you get the hang of it, and there are plenty of benefits to trading and collecting NFTs. If you’re still not convinced, here are some of the main benefits of collecting NFTs to help you make up your mind.
Flexible and transferable
An important benefit of NFTs is their transferability into other markets and mediums. This is clear in the video game industry, where many video games offer exclusive in-game content. These in-game extras are usually not cheap and can only be used within the confines of the game and its environment. This can be a wasted investment should the game shut down or the item goes out of style.
NFTs can allow you to take in-game items out of the game, to make the most of their investment. With NFTs, gamers can experience a whole new world of gaming, and game developers can find a new way to turn a profit. The opportunities are endless when it comes to NFTs in the digital world as a gamer.
Authentic artwork
If you’re an art-lover or connoisseur, it’s easy to see why making the change from physical to digital art is a good idea. One of the main benefits of collecting NFTs is that you get to own your own digital pieces of art. Because these art pieces are one-of-a-kind and are created on the blockchain, they have a unique digital signature. Thanks to the blockchain, the artwork is protected from copies, modifications, and replacements. By purchasing and collecting NFTs, you become the proud owner of authentic and highly valued artwork, which you can do as you like.
Boosts inclusive growth
NFT sales benefit the market in many ways, starting with boosting inclusive growth. In the digital artwork industry, NFTs bring content creators together from all walks of life. Through NFTs, creators can interact with their consumers directly and get recognition for their work. At the same time, buyers have more liquidity variety through NFTs.
Although the bulk of the NFT market is artwork-related, there are plenty of real-world benefits to be had in different industries. If these industries were to take advantage of the NFT asset format, they could share in some of the success. Anything from the precious metal to the real estate industry can stand to gain from adopting some of the NFT asset formats.
Be on the right side of history
Last but not least, one of the more interesting and exciting benefits of getting involved with NFTs is all the possibilities it entails. Since NFTs are still in the early stages, who knows where things might be headed in a couple of years. When it comes to investment trends, it’s always a good idea to try to stay ahead of the curve, to experience the most benefits. If something new and exciting is just around the corner, now might be the perfect time to hop on this trend and take advantage of it. Choosing to invest in NFTs today might make all the difference for you in the future, so make the most of it!
So there you have it! Anyone can collect NFTs if they have the right resources and know where to look. Once you start collecting up NFTs, you’ll notice that these digital assets are very flexible and transferable. Owning digital assets allows you to transfer them and use them outside their original medium and universe. NFTs are unique, and authentic pieces of art that are unlike anything else in the world, too!
By investing in NFTs, you enrich yourself, the digital art community, and help support inclusive growth. NFTs help connect artists and creators to passionate investors, as well as open doors for other industries to improve. Last but not least, although it’s in its early stages, NFTs are on the rise, and if you want to be on the right side of history, you better get on the bandwagon!
