Despite all the buzz, it can be challenging to discover lucrative non-fungible token (NFT) projects. That’s not to mention creators that launch scam assets that crash after impressive short runs. Nonetheless, you can use these straightforward rules to find the best NFTs for long-term investments.
Invest in Projects that You Like
Firstly, focus on non-fungible tokens that attract your interest. For instance, if you love fashion, you can check what leading brands have for the NFT market. Different market participants have varying choices. Don’t just rely on your social influencer. The notion is to select the best project that will match your preferences and investment portfolio.
Research
Research is a crucial term, especially when talking about investments. After finding your favorite NFT, it is time to understand everything about the project. That might not be as simple as reading reviews from other users. As mentioned, investors have their unique preferences. When researching non-fungible tokens, you have to get your figures dirty. Dig deep about the project, creators, and community.
Invest Wisely
As the rule of the game, invest what you can afford to lose. The NFT market remains a volatile space. And the last thing you may want is to lose your family’s fortunes due to a failed project. While you don’t want to imagine negative returns when investing, the market has its realities. You may have heard about non-fungible tokens that lost value after eye-catching buying prices.
Are NFTs Here to Stay?
True enough, the NFT industry lost its 2021 upward steam, with most projects losing their floor prices considerably. Moreover, the technology seems new and complex for many to understand. That does not mean NFTs are dead.
Recently, Animoca brands co-founder Yat Siu told Bloomberg that the NFT market remained stable despite the deteriorated activity. He stated that the industry continued to accrue massive sales – $24B in 2022. Siu added that NFTs made $4.7B in sales in 2023 Q1.
Some Top NFT Projects
- Art
- Event Tickets
- Photography
- Games
- Films & Videos
- Music
- Sports
- Virtual Fashion
- Collectibles
- Physical and virtual land
- Virtual Fashion
The NFT market remains stable with massive sales. Some top NFT projects include art, event tickets, photography, games, films & videos, music, sports, virtual fashion, collectibles, physical and virtual land.
