NFTs’ popularity has skyrocketed in the past few years, especially since 2020. Its market is so strong that it reached a valuation of $40 billion in 2021, a significant achievement. It is no surprise that so many people are suddenly interested in investing in NFTs. However, before starting to put money, there are many problems to solve, including which NFT marketplace is the best to use. Let’s understand more about the investment in NFTs and where we can safely do it.
But first of all, what is an NFT?
The non-fungible tokens (NFTs) are digital cryptographic assets with their own particular code and metadata. Therefore, it is impossible to have an NFT identical to the other. They can have the same visual content, but their code will differ, so they’ll have diverse values and importance.
NFTs’ value is based precisely on their singularity. They are expensive because they are rare and can only be possessed by a person. It is quite different from real-life artwork and other types of investment. It can seem confusing for those who aren’t used to it but don’t worry. With time you’ll get used to this idea.
Is it possible to make money from NFTs?
Yes, of course. NFTs are investments like any other, and they can make you significantly richer if you understand the market and when it is the right time to buy an NFT. For example, it isn’t a smart idea to buy a very expensive NFT unless you think it’ll become even more costly later.
Overall, people invest in the NFT while it is still cheap and wait until it is highly wanted, which is what they’ll value the most. Then, they’ll sell it and keep the profit. It isn’t that different from the logic used in cryptocurrency investment.
Actually, cryptocurrencies and NFTs are pretty similar since both are based on the blockchain system. Several blockchains are used for NFTs, but Solana is one of the safest and most famous. Many people are using it, and Solana NFT is an excellent way of getting used to the market.
Which NFT marketplace is best?
That’s a tricky question since each marketplace is excellent for a different type of person. So, it depends on what you are looking for. Some of the most used and known marketplaces are NFT Launchpad, Foundation, OpenSea, GameStop, Quint, Crypto.com, Binance, Nifty Gateway, Rarible, WAX, and DraftKings.
A Solana NFT launchpad that is known for being secure and easy to use is Goose FX. This DeFi platform also allows you to trade crypto and derivatives. Many options are available, and the website is straightforward and intuitive, so it is a good option for those who aren’t used to the NFT market.
Remember to research before buying an NFT to make sure that it is a good choice, and always be careful. NFTs are a high-risk investment, so they need the double attention that a typical investment does.