The exponential growth in the NFT market in the past two years has brought many curious eyes to this technology. Several investors are starting to realize how good a deal it can be. Digital assets are a great way to diversify an investment portfolio, and it helps to take risks securely. However, how do NFTs make money? Why are NFTs valuable, and how can you make money with them?
Why are NFTs valuable?
The non-fungible tokens (NFTs) are a revolution in digital assets. They are tokens that can’t be reproduced or copied. A meme showing an NFT buyer being dumb for buying something so expensive while you can “have” it by taking a screenshot became popular, but is it true? Are people who buy NFT dumb?
Obviously, no. Yes, you can take a screenshot of an NFT, but that doesn’t make you own it. You don’t have the token itself, so you can’t capitalize on it. The real value of an NFT is based on its unique code. The code is what is valuable and not the content. Nowadays, everyone can have content, just like meme shows. But the only one who can own the singular part of it, the part that can’t be copied – the token – is the buyer.
NFTs are valuable because they are unique, which makes them rare. And, of course, it needs to be “wanted” by many people so that it can be expensive, so having a great base of interested consumers is also essential to make NFTs so valuable.
How can I make money with NFTs?
There are a lot of ways of making money with NFTs. Overall, the easiest way is to buy cheap NFT that you think can turn valuable in the following months or years. This is a risky investment since there’s no guarantee that you’ll ever make money back, but the chances are good.
NFTs become more popular each day, making them more expensive. Therefore, it is probable that you can make your money back and earn more within some months. However, you should research the market before making a decision to ensure that you bought the right NFTs.
An NFT project that is quite promising is the Tamadoge, a play-to-earn NFT. You can also invest in passive cryptocurrency mining and NFTs that you like and think will succeed. You can see all types of NFTs available in an NFT launchpad Solana, which is based on the Solana blockchain.
How can I buy NFTs?
You can buy NFTs from cryptocurrency and NFTs platforms or launchpads. Although there are many available, not all of them are safe, and they have different prices because of the fees. Therefore, pick one that is safe but doesn’t cost you much, like this Solana NFT platform, the Goose Fx.
Once on the platform, you must pick the NFT you want to buy and continue with the process. Remember that most sites use cryptocurrencies since they are based on blockchains.
Originally posted 2022-10-12 12:55:00.