Can you make a buck in the crazy world of Non Fungible Tokens (NFT’s)?
Non Fungible Tokens (NFT’s) are digital assets (commonly but not restricted to images such as PNG’s or JPEG’s) that are minted on the blockchain. In other words, they are stamped as the original digital asset. Anyone can copy an image, but the NFT will always be the original and can therefore be assigned value.
The NFT market has taken off over the last two years and is currently worth over $40 billion, tipped to reach $100 billion by 2025. That’s a lot of money for digital assets that appear to have no intrinsic value.
How can you jump on the NFT bubble before it pops?
- Buy NFT’s from a platform such as OpenSea or Rarible and try to resell them at a higher price.
- Mint your own NFT’s and put them up for sale or auction.
- Create your own NFT trading platform.
NFT’s like cryptocurrencies are highly volatile, so be careful as you may lose a lot of money.
Similar posts you may like
- The real cost of buying cheap
A decision we all must make. Do I buy a 20-year-old car for $5,000 or a new car for $25,000 with free servicing and Read more
- Omicron – Will the ASX crash?
A new strain of COVID-19, Omicron, first detected by virologists in South Africa threatens to derail the fight against the pandemic around the world Read more
- Super Fund Trustee Company
A super fund trustee company is a type of special purpose proprietary company that is only permitted to act as trustee of a self-managed Read more
- Witches tax
In 2011 Romania started taxing witches, astrologers and fortune-tellers. Previously these obscure professions were Read more
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2