The web is exploding with the news about NFT. Reading about Grimes paying a few million dollars for an NFT, famous people putting their autographed tweets for sale as an NFT asset – what is next?
You may think this is just another wave of selling nonsense, but we can object: in fact, this is a genius blend of art and finance. So let us delve into the matter of what an NFT stands for.
NFT, or non-fungible token, means you can’t trade it for anything else. It is a unique, one-of-a-kind store of value. But, unlike Ethereum or Bitcoin, it cannot be exchanged for a similar item. And though working on blockchain technology, NFT is different.
What Can an NFT Be Like?
As you have already understood, this can be any unique digital file such as a piece of music, video, image, or meme, just anything that is likely to draw the audience’s attention.
If we compare this with physical art items, this is similar to buying a Picasso – only the artist holds the copyright, but anyone can buy the copy. The same is with the digital art collection. When NFTs are purchased, a buyer gets both the art in this file and the ownership in a sense.
For Whom Buying and Selling NFTs Is Profitable?
Let us first deal with selling digital artworks. Any person somehow connected to art or having talent in visuals has a chance to sell their item that in the realm of physical art would not be, to put it mildly, very popular.
Even if this art doesn’t sell much or get into top NFT collections, the marketplace will pay you a significant percent anytime someone decides to buy your artwork, or it changes hands.
Okay, then who is likely to invest in NFT and buy it?
Anyone who desires to support not yet famous artists and get the rights to use these files can purchase. Besides, you could turn the NFT you bought into a crypto coin such as Ethereum and those operating on the Ethereum blockchain. Or, if you are wondering how to invest in NFT and get super rich, buy one and wait until its value hits the sky.
A Practical 2-Step Guide On Investing In NFTs
Step 1 – Review Ratings at Top NFT Collections
Search the most reliable and efficient reviews.
- Top NFT Collections.
To get an entire review of available NFT platforms, Top NFT Collections will be a perfect place to look at. At TopNFTCollections.com, you can see the ratings of non-fungible tokens or a specific collection and decide if it is worth buying.
Step 2 – Choose Investment Platforms
So, what is the best NFT to invest in? Sorry, but there is no exact answer to this question since NFTs are speculative assets. Those that are trending now can lose popularity later. So, let us better focus on the platforms to invest in new NFT collections.
This place allows sorting over 33 million artworks by categories that include the most extensive collection of game items, photos, or for example, domain names. In addition, it allows the integration of the Coinbase wallet.
This platform is the best choice if you have an Ethereum wallet. Some NFTs here are auctioned, while some are sold at a fixed price. Rarible also gives its users rewards in the form of crypto tokens RARI.
Now, when you know how to invest in NFT art, feel free to try one of these places and invest in the next big thing within blockchain technology.