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NFT|CRYPTOCURRENCY|FINTECH
Non-Fungible Tokens (NFT) are increasingly popular items among crypto enthusiasts. Many investors use this crypto craze as an “exit strategy” for their crypto investment gains.
Some have made a tremendous amount of money with cryptocurrency, so when they moved some or all of their money out, they created or bought NFTs. These digital ledgers have allowed some folks to strike it rich with seemingly, little actual work on their part. But looks can be deceiving.
This phenomenon is partially due to the accessibility of platforms like OpenSea, “the world’s first and largest NFT marketplace.” There are hundreds more, such as Axie Infinity, Rarible, Nifty Gateway, Decentraland, SuperRare, and others. NFTs seem to be sold and traded at rates far higher than other types of artwork. But are they really?
Have you purchased a Rembrandt or a Picasso? I’m certainly not saying these are comparable to the masters, but as they say, “beauty is in the eyes of the beholder” or HODLer. Scarcity and the possibility of reselling these for a colossal profit make them a popular commodity amongst art lovers and those invested or interested in cryptocurrency.
Can you strike it rich with NFTs?
Artists and traders have made millions of dollars by creating, selling, and trading NFT properties on OpenSea. Digital illustrations can command tens of thousands of dollars on their first sale, and they are known to appreciate in value…
