InstaForex

Get acquainted with NFT who can earn a lot of money & talk about a lot of people

 


Have you been hearing about 'NFT investing' lately? So, what does that mean? Well, to satisfy your curiosity, check out this article!


What is NFT

NFT stands for non-fungible tokens. Reporting from the Etherum.org page, NFT is a token that we can use to represent ownership of our unique items.


Quoting from CNN, NFT makes it possible to digitize artwork assets and other collectibles into verifiable and easy-to-trade assets using blockchain.



So what is the difference with crypto money?


According to the Founder and Director of OneShildt Financial Planning, Budi Rahardjo, the two are indeed similar because they both use blockchain technology.


But the difference is that the amount of NFT traded can be much more limited than crypto. The artwork that is traded can be in the form of GIFs, tweets, virtual trading cards, images of physical objects, video game skins, virtual real estate, and much more.


"This NFT can only have one item in the world, so it is unique, this uniqueness gives identity to NFT, for example paintings by this artist, that artist, which is only one. And now these limited works of art can be digitized, then traded, even become collection-based investment assets," Budi said as quoted by CNN.



Not using ordinary money, but buying and selling digital art assets using crypto currency. It is known that a number of artists such as musicians are also influencers, to entrepreneurs spending a lot of money to have NFT versions of digital images, you know!


Can You Get Rich from NFT?


Launching from The Indian Express, a 12-year-old boy from England, Benjamin Ahmed became rich by selling a whale pixel emoji, his creation for 290 pounds.


Ahmed and his brother, made digital work thanks to the encouragement of his father who is a software developer. Apparently, they have also been learning programming languages ​​since the ages of five and six.


Understand the Risks

If you are interested in wanting to jump right in, then there are several things that need to be studied further. Budi continued, NFT is an instrument that can be an investment, but it should not be used as a financial goal.


That's because there are no clear regulations and trading schemes, so it's still very speculative. The reason is that from the start people wanted to have it because it was a form of appreciation for the work of art, and the price that could go up was just a bonus.


From the characteristics, according to Budi, the NFT has two asset values, namely real assets, namely NFT assets such as gold bars, property, and others. And financially it has the potential to increase in value even though it is not a deposit or stock.


The most important thing, according to Budi, is if you want to make an NFT purchase, make sure your financial condition is prime.

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