Since early 2021, Non-Fungible Tokens (NFTs) have gained huge traction with more than $26.9 billion spent across the industry. Sold as digital art or gaming assets, an NFTJ is a token of virtual ownership of a collection or individual pieces, such as GIFs, digital prints, videos or avatars for gaming. In other words: it’s the art collectables of the future.
NFTs can be bought and sold like any other thing. However, unlike your average item in the store, these assets are unique and cannot be replicated. They are a kinda new way of appreciating art. But will the market keep growing? And are they a wise investment?
The reason behind NFTs remarkable success
What makes NFTs more popular than other cryptocurrencies could very well be their creative potential. With each asset being unique, there is joy to be had from finding, selecting and buying NFT collections as you effectively get a piece of digital art. What’s more, the gaming industry is rapidly expanding its use of digital avatars and other assets, enabling gaming fans to invest in the games that they love. It’s a hobby and investment paired into one, a fun alternative to traditional investing. To get started, you can get introduced to NFTs here. There are a lot of marketplaces popping up, and plenty of artsy collections to admire.
What to look out for if you decide to invest
If you decide to buy digital collectables like NFTs, then the same rules go for all other kinds of crypto investment: Do your research and stay safe. While there is no reason to panic, it’s good with a bit of common sense to stay clear of scammers and put your money in the right place. The simplest way to do that is to turn to the experts for advice before you hand over your money. After all, investing is a skill that must be honed and nourished. You need to find the best way to buy – and there are hundreds. From marketplaces to auctions to instant clicks.
Why the fun is likely to continue
Great, you’ve invested in a few NFTs. But how do you know they will become the asset everyone claims it to be? Well, some experts believe the recent success is a bobble destined to burst, while others predict ever-larger growth. One thing that speaks in NFTs favour is the way it has turned traditional art collecting on its head by reshaping art in every possible way, making collecting more accessible. And with the booming gaming industry taking part, it’s hard to see why the bubble would burst. After all, digital assets are the future and NFTs can be whatever we want them to be. It boasts endless potential – especially for upcoming and established artists who can use NFTs as a new way of making money from their artwork. It gives new creatives a chance of financial success.