NFTs are the Future of Investing

Investors of all ages and economic backgrounds are partaking in a new and growing investment platform, NFTs.

Non-fungible Tokens (NFTs) are a specific or unique piece of art or collectible such as a domain link or a virtual property which is taking the investment market by storm.

NFTs are popular with the younger generation, but older investors have begun taking note of the market.

Jim Brody noticed NFTs from news stories and websites. He began taking an interest while utilizing tips on how to properly invest in NFTs.

Purchased with cryptocurrency, investors are buying and reselling with increased profit margins which can add to their monetary value.

However, people are still confused about how they work or what they can accomplish.

“If you’re investing in NFTs for the short term, you’re basically a trader,” said Brody. “If you’re investing in NFTs for the long term, then you’re an investor. There’s a big distinction between being a trader or an investor.”

NFTs are unique because they are limited. Investors who purchase NFTs increase their profit by reselling rare or popular ones, such as the Bored Ape Yacht Club and Crypto Punks.  

Websites such as OpenSea.io are marketplaces where NFTs are sold.

For the older generation of investors, NFTs can be compared to other investments which were popular in the past.

“Commodity investments have been going on for decades and decades,” said Brody. “And gold used to be a standard investment.” Brody said.

With NFTs and other investments, there are precautions which should be followed, and acknowledging risks are important.

Brody offers this important advice for new investors.

“Be careful. Do your research. Do your homework,” Brody said. “And start out with a small percentage of your portfolio. If you’re successful, maybe raise it in the future.”

Since NFTs cannot be copied, they can be passed down and resold. This contributes to their value and rarity.

Depending on who owned it before, such as a singer or athlete, it could increase the market price dramatically.

Although they may not be as popular as cash or gold, NFTs will become more of a proper investment term with technology and cryptocurrency continuing to rise.