The world of digital investments offers a near constant level of innovation, and recently blockchain technology has come together with art investing to create quite the hot market.
Non-fungible tokens, commonly known as NFTs, are the digital assets at the center of the latest investment trend. They’ve gained attention from tech-savvy investors and could lead to a new highly speculative digital age in art investments.
But as NFTs and their variants rise in popularity among both crypto enthusiasts and other investors, an intense debate is growing about the effects of NFTs and whether or not the market is in a bubble.
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Here the Investing News Network (INN) takes a closer look at the NFT craze and the almost unthinkable amounts of money being made by some early entrants.
What is an NFT?
NFTs are created around a specific item, whether it be digital or physical, and the ability to buy an NFT is based on blockchain technology.
Some of the most popular NFTs include pieces of art such as images, videos or GIFs. The flexibility of NFTs has allowed for some offbeat choices, like when Jack Dorsey, the co-founder of Twitter (NYSE:TWTR), sold his first tweet for US$2.9 million.
These digital assets aren’t new, but the recent explosion in interest can be traced back to a growing understanding of blockchain technology and the...
Read Full Story: https://investingnews.com/daily/tech-investing/blockchain-investing/how-to-invest-in-nfts/
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