📈 Fed's first cut since 2020: Time to buy the dip? See Tech-focused stock picksUnlock AI Picks

This is how to make — and lose — a fortune with NFTs

Published 03/31/2021, 12:48 PM
Updated 03/31/2021, 01:00 PM
This is how to make — and lose — a fortune with NFTs
GOOGL
-
GOOG
-

The rise of nonfungible tokens, or NFTs, has been nothing short of astounding this year. Google (NASDAQ:GOOGL) searches for NFT are up over 600% since mid-February, hitting initial coin offering mania levels, and the top NFT platforms are turning over millions of dollars each day.

Suddenly weve got this fresh blood of people exploring the space with new eyes, says Goltra, who also heads up Binance Philippines, adding: Its refreshing to interact with new community members youre really inspired by the art, you have a lot of fun, and its kind of like a game to collect.

How do you spot value in an NFT?

Value drivers

What should investors avoid?

Is a potential financial return the best way to approach NFTs?

Are some NFTs undervalued/overvalued right now?

How important is it to understand the secondary sales market?

How can you maximize the chances of winning an auction?

What sort of budget do you need?

How do I research the market?

Final words of advice

Continue Reading on Coin Telegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.