Article Author – Fracas Digital
Despite NFTs being around since 2014, they seemed to burst onto the scene in 2021 as a new and trendy way to buy, sell, and own digital art online. NFTs continue to be increasingly popular among creators and buyers alike due to their non-fungible nature and the ease at which transactions can be made online to a wide global market. Although we may have now all heard of NFTs, what investment benefits do they hold? This article by Fracas Digital NFT will give an outline of what NFTs are and why they make the perfect addition to any investment portfolio.
The first reason why we should invest in NFTs is because of the financial benefits NFTs can provide. Right now the market is booming. OpenSea alone has more than 700 NFT projects with 80 Million NFTs already being traded, this number is increasing by the day. It is always a great time to start to get involved with the metaverse as opportunities are endless and ever expanding.
Anyone is able to invest in NFTs, provided they have cryptocurrency and a digital wallet, making barriers for entry relatively low. Allowing for access to global markets through the online space. Transactions can be made quickly and securely through blockchain technology making investments not only easy but also fast and accessible.
Further, advantages of blockchain mean that an investor’s ownership of an asset is more secure and also more transparent. Transparency has always been something the traditional art market has lacked with its seemingly closed off nature and the opaqueness of buyers and transactions. This is a thing of the past. The NFTs space thrives on transparency, meaning safer transactions for all and ultimately the benefit of creators.
These advantages ultimately lead to great portfolio diversification. Not only is a person’s investment portfolio made broader and more robust through NFTs, investors can also learn first hand of the benefits of using blockchain technology and get to grips with the workings of the NFT marketplace and what the metaverse has to offer. Online transactions are quickly becoming the norm and even set to take over from the traditional methods of trading information. As mentioned, blockchain technology allows for increased security and this extends to data protection where it cannot be accessed by others or fall victim to human error.
Being able to learn about the NFT marketplace is invaluable information and insight into a market only set to increase in popularity. Investors can become self-taught experts of the online marketplace and use it in their own businesses with the approach of Web3.0 increasingly set to take over.
To finally look at the benefits for the art lovers, NFTs function like any other artwork. Collectors are able to add pieces to their collections in the form of NFTs and it is but another way that art can be appreciated, bought and sold. The NFT marketplace offers a rich variety of art available to be bought that would not be possible in the traditional marketplace due to much higher barriers for entry. NFTs are a great investment into art, whether you are concerned about the financial side or not.
With all the concern about the great financial benefits that can be had through the creation and trade of NFTs, it is important to see art being at the art of the marketplace. The space should be for art lovers to enjoy and provide a refreshing alternative to creators who want greater autonomy over their pieces. This article has outlined but a few of the many amazing opportunities the boom of NFTs and developments in blockchain technology have to offer on the sale of art online. NFTs should be invested in for they have the potential to enrich our lives, whether that be monetary or through the enjoyment looking at, and creating, art can bring.