Sure you need to hear it NFTs (non-fungible token), a new digital business model that has been taking over the world in recent years. But all this fuss is making life difficult for those who want to get into the business now and choosing a good project to start is quite complicated. Therefore Bit Magazine will show you in this article how to start investing in NFTs in a very simple way.
In general, and well summarized, the term NFT refers to an exclusive code that serves as a record of a particular digital asset. It allows you to confirm the ownership of a specific item, but this does not give it any value. It considers the value of an NFT to which project it belongs.
Non-fungal token fever
Although technology has been around for a long time, NFTs have become more popular in the last two years, especially after American graphic designer Beeple sold one of his pieces. $ 69 million (one of the most expensive ever sold).
After that, several other artists entered this market and each time the projects started to pile up with thousands of NFTs each time. Nowadays, you can simply find parts that are priced 20 BRL up to a trillion.
The entire transaction is done online through virtual store-like platforms. With them, you can also search for NFTs that interest you and sell yours.
It is important to note that different NFTs can be part of different blockchains (networks) and can be traded in different cryptocurrencies that transport these networks.
Because the market is free, the value of an NFT can be decided by the parties involved in the negotiation (sellers and buyers) without the intervention of the original creators of that art.
Is it worth buying in Brazil?
If you consider Brazil, the NFT market is still very new and underdeveloped, but the international market is very large and can be very profitable.
Although they can be quite profitable, the NFT market, like the cryptocurrency market, is very volatile. You can buy an NFT today and it will cost ten times the amount you bought in a week, but the opposite can also happen.
It is important to remember that, as with any investment, there are a number of variables that need to be evaluated before launching or sinking a project.
How to invest in NFTs
Investing in NFTs is fairly straightforward and requires almost no support. In the past, you needed exchanges like (brokers) Binance to acquire their first cryptocurrencies. However, there are already other simpler options available today that send your digital assets directly to your wallet, so you pay less for the gas fee, the amount charged for blockchain transactions.
NFT is one of the most popular markets today OpenSeawhere you can find pieces from famous collections such as Bored Ape Yacht Club.
The first step in investing in NFTs is to choose a project that interests you. This project will determine which blockchain and cryptocurrency you will use in your transactions.
After that, you will need to choose one of several digital wallets that support this cryptocurrency / blockchain / NFT. It is one of the most widely used metamaskaraa wallet that works as an extension for browsers and supports such networks Ethereum, Binance and polygon.
Lastly, all you have to do is add the necessary funds to get the NFTs and go to the appropriate NFT market. There, you complete the transaction and the NFT goes straight to your wallet.
And there? Did you like this tip? Comment there if you want to see step by step how to get an NFT!
Professional Writer, Social Communicator and Specialist in Web Content Production.
Letters – Bachelor of English and Administration. Director General of the Digital Communications Agency.