As explained earlier, NFT crypto tokens are unique digital assets that are not interchangeable like fungible tokens. These unique tokens then act as the ownership of other assets including, pieces of art, songs, videos, and real-world assets. Each token points towards a link of metadata that could be storing an image, audio track, or similar data. While NFTs provide the ownership of this metadata, it doesnât mean that it canât be copied. Anybody can copy the metadata but the unique address helps in identifying the real owner of the asset.

How to Invest in NFTs?

Now that you know what are NFTs, you must still be wondering how to invest in NFTs. Most of the Non-Fungible tokens are traded against cryptocurrencies like Ethereum, Solana, Binance Coin, etc. More and more projects are also allowing purchases in Fiat but the process is not that smooth. If you already have cryptocurrencies and a web 3 wallet, then you may buy non-fungible tokens from online NFT marketplaces. The most famous marketplaces are Opensea, Rarible, Solsea, Solart, CNFT, etc. If youâre a beginner then you may invest by taking the following steps.

Are They a Good Investment?

If you have some capital to invest then you must be googling âare NFTs a good investment?â. Â The answer to this question depends on multiple factors and may vary for different investors. Even before this question, one must learn âwhat are NFTsâ, first. One must keep in mind that just like other crypto assets, Non-Fungible Tokens are very volatile. Several new projects launch each day. While many of these collections give 10x returns, many also end up going below their mint price. Therefore, rigorous market research must be done before buying any NFT from the marketplace or minting a new one. Just like other risky assets, one must only invest what theyâre willing to lose.

If youâre wondering where to buy NFTs, then the biggest platform in the world is Opensea. Opensea currently supports buying, selling, and minting on Ethereum, Polygon, and Klayton blockchains. Opensea boasts a daily trading volume of more than $100 million as per Dapp Radar. In December 2021, the monthly trading volume on Opensea surpassed an eye-popping figure of $3 billion. This increase in volume is due to the insane amount of hype on social media. Several celebrities like Eminem, Justin Bieber, Jimmy Fallon, and Paris Hilton have already jumped on the bandwagon. Such celebrity endorsements have further increased mainstream interest.

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