Connect with us
Apply Now

NFT & web3

Are NFTs Worth Investing In?

Technology is evolving rapidly with an ever-increasing shift to the digital world in recent years. NFTs have emerged as one of the hottest new trends, with investors all around the world vying to snap them up.

Non-fungible tokens, or NFTs for short, have actually been available since 2014 but didnt really capture the publics imagination until 2020.

The rise of cryptocurrency has helped the popularity of NFTs; with both using similar technology, the general public has been far more receptive to considering a less tangible type of investment.

But what are NFTs, and do they make a good investment? Here’s a look at NFTs in detail.

NFTS: The Basics

Collins Dictionary announced that its 2021 Word of the Year is NFTs – the perfect example of just how on-trend these items are.

With a unique identifying code, NFTs are one of a kind and have become extremely popular in the world of art, entertainment and creativity.

Whether it’s a piece of artwork, a video clip or even a colour, NFTs provide the buyer with ownership of the item. In some cases, the item will already have been seen by millions, but NFTs aren’t about reducing the audience: they allow an individual to claim authentic ownership.

NFTs use the same type of blockchain technology that is found in crypto, which is one reason why it’s very common to buy NFTs using crypto rather than traditional money.

Once purchased, the buyer owns the item, a fact that can be checked and validated at any time by the built-in authentication.

What Can Be Sold as an NFT?

There are strong links between NFTs and artwork, but they arent the only thing that the technology is being used for.

The wide application of NFTs can be seen in a new Megaways slot machine that features just some of the items which can be embedded in NFT tech.

Sporting clips, skins for video games, desirable avatars, music, GIFs, collectables – there’s no end to what NFTs can be used as a mechanism for.

Think of it as a digital collection, in the same way that you might collect a room of paintings or the copyright to your favourite songs.

Although there’s a real prestige in owning any of these items, the reason why NFTs are so popular is that they can be resold. And this is where you need to consider whether your NFT purchase will deliver what you want…

Are NFTs a Worthwhile Investment?

Some NFTs are changing hands for millions of pounds, so there’s unquestionably a big appetite for them right now. But before you start joining the crowd and splashing the cash, it’s worth considering whether NFTs will have an appeal that lasts.

The creation of NFTs means that artists can monetise their work in a way that would have been difficult before. But due to their relatively new arrival on the investment scheme, no one can offer any promises about their performance in the long term.

Demand will determine whether the NFT you purchase makes a good investment. If you don’t pick wisely, you could end up struggling to sell, or being forced to sell at a loss.

The general consensus for NFTs is not to invest too much money in them right now unless a piece is particularly meaningful. There’s no price for sentimental value, but if you’re only considering them for their resale potential, don’t put all your eggs into one basket just yet.

Continue Reading

Copyright © 2022 Disrupt ™ Magazine is a Minority Owned Privately Held Company - Disrupt ™ was founder by Puerto Rican serial entrepreneur and philanthropist Tony Delgado who is on a mission to transform Latin America using the power of education and entrepreneurship.

Disrupt ™ Magazine
151 Calle San Francisco
Suite 200
San Juan, Puerto Rico, 00901

Opinions expressed by Disrupt Contributors are their own. Disrupt Magazine invites voices from many diverse walks of life to share their perspectives on our contributor platform. We are big believers in freedom of speech and while we do enforce our community guidelines, we do not actively censor stories on our platform because we want to give our contributors the freedom to express their opinions. Articles are not commissioned by our editorial team, and opinions expressed by our community contributors do not reflect the opinions of Disrupt or its employees.
We are committed to fighting the spread of misinformation online so if you feel an article on our platform goes against our community guidelines or contains false information, we do encourage you to report it. We need your help to fight the spread of misinformation. For more information please visit our Contributor Guidelines available here.

Disrupt ™ is the voice of latino entrepreneurs around the world. We are part of a movement to increase diversity in the technology industry and we are focused on using entrepreneurship to grow new economies in underserved communities both here in Puerto Rico and throughout Latin America. We enable millennials to become what they want to become in life by learning new skills and leveraging the power of the digital economy. We are living proof that all you need to succeed in this new economy is a landing page and a dream. Disrupt tells the stories of the world top entrepreneurs, developers, creators, and digital marketers and help empower them to teach others the skills they used to grow their careers, chase their passions and create financial freedom for themselves, their families, and their lives, all while living out their true purpose. We recognize the fact that most young people are opting to skip college in exchange for entrepreneurship and real-life experience. Disrupt Magazine was designed to give the world a taste of that.