If you’ve been following the cryptocurrency industry, you may have noticed very little hype around non-perishable tokens, unless you were locked into an NFT-resistant cache last year.
Originally designed for use in trading card games, NFTs can represent all unique assets whose rarity and ownership can be demonstrated on the blockchain. Since then, NFT technology has utilized a number of assets in the game, digital collectibles, unique works of art and more as the technology has evolved.
But if your nickname is not Guggenheim, you do not understand why adults are so passionate about Doctor Who or Star Trek, and your gaming career is to download Candy Crush to your mobile phone shortly, why bother?
Well, because some of these digital assets are sold for obscene money. And if you are reading this, it makes a lot of sense to point out that you are probably interested in digital assets and the opportunities they offer.
Gold is not all that glitters
Of course, when there are obscene amounts of money on the table (which seems as simple as chasing an old tweet on the blockchain), every binary wrestler and their mothers, from Anaheim to Zanzibar, will try to attend the event.
The ensuing gold rally led to a boom in the NFT market compared to the original coin supply bubble in 2017. Litecoin (LTC) creator Charlie Lee has warned the BBC that the NFT bubble may soon burst. Ironically, Lee created an NFT in the process, which eventually sold for 5 Ether (ETH) and may have had real value given its position in the crypto industry.
As with the ICO boom, there are definitely projects of dubious value; Although this time, estimating this value is often a little more subjective than just due diligence on the myriad tool token project this month.
In contrast to the initial boom in coin supply, NFTs can go far beyond a diverse group of futuristic and technology-minded investors, bringing blockchain technology and ultimately the preferred payment method, cryptocurrency, to a much wider audience.
A new scene has emerged around NFT trading as an initial investment strategy. Some of the major players in space have answered Cointelegraph’s question: “Why should investors pay attention to NFTs?”
You know this is the next big thing
Danny is passionate about art and has invested in exclusive collectibles, virtual lands and blockchain art for the past two years. He first discovered Bitcoin (BTC) in 2013, and after seeing cryptocurrencies radicalize the financial world, he was convinced that “NFTs will code everything else.”
“Investing in something that could go mainstream, with the support of [artists] individuals and projects, was a win-win scenario,” he said. Danny believes that we are still in the early stages of NFT adoption, and that “there is still a lot of NFT opportunity and innovation.”
Zurab heads Caselotti Bitscale Capital, which supports several NFT-related projects, including Flamingo DAO, an independent digital organization focusing solely on investing in NFT assets. He believes that anyone who is thinking of investing in art should pay attention to the NFT market:
“Collectors can get amazing artwork from home, and artists can reach a much wider audience and make money from the art.”
He also said: “People really love the comfortable feeling of being digital.”
But I do not have a degree in art history
So for art, fun or profit, if anyone wants to get into NFT … where do you start? How to sort hash masks from garbage masks (mark before anyone has ideas).
Andrew Street. This is the team (or artist), producer, token economy, society, market, data and risk. Then he should think about available assets:
Some projects are simple because they have an investable asset (Virtual Earth has NFT land), but for other projects it is very difficult because they have many different types of assets (Earth, elements, creatures, tokens, etc.). D.) “.
Priyanka Desai, CEO of Flamingo DAO, also believes that investors should dig deep, but play around to discover the mechanics of it all. “It all starts as a game,” she told the Cointelegraph that many participants are learning mechanics to see how they will use it for themselves.