Beginners Guide: Collecting NFTs & Crypto Art
Beginners Guide: Collecting NFTs & Crypto Art
If you've finally learnt about what NFTs are and you are ready to invest into it... make sure to read this article to know what you should look out for!
*To exclaim, this is not financial advice. Do not invest in ANYTHING without taking the risk of losing your money.
If you have no idea what NFTs are, look into this article!
What should you look for?
The Crypto Art / NFTs industry is slowly blowing up, less than a month into the new year — we’ve seen multiple big sales & influential people talk about NFTs openly to their huge following. This means that projects are slowly going to increase in size and it will be hard to distinguish the good from bad. The real from fake.
Now, its impossible to get into every successful NFT project, so my advice would be to look for the niche that you may know about and read about it. If you like Basketball, then the perfect place for you would be NBA Topshot.
Many projects are based around something that can’t be read without you actually looking into the project, this is based around many forms of value such as Scarcity, Tokenomics, Community & etc. CryptoArt is a tough one especially if you’ve just learnt about the space.
Here is the vague things to look for in value terms:
Scarcity
Sales History
Current Holders
Artist / Developers behind the “project”
Now, this is about Crypto Art and NFTs in general, every project slightly varies. Collecting isn’t as easy as it seems if you want the value of your portfolio to consistently increase compared to buying into stocks or sh*tcoins.
When we talk about Crypto Art, you aren’t just investing into an artwork but the future of an artist. Long term investments into a human being to better their career which will boost your piece if invested into the right person.
However, BUY art you LIKE.
Don’t buy it just for an investment because you’ll most likely lose money with that mindset. These things listed above do not correlate to my concept of —
“The 1st Collector”.
Research into these main points. I believe in Crypto Art and NFTs, for the collecting *part* of it — you can’t explain how *value* is determined in one article post. I shall start posting a series soon if you guys are interested!