Even though NFTs seem to be everywhere now, there are probably still a lot of people wondering what all the fuss is about. If so, it’s not hard to understand why. When you first hear about NFTs (non-fungible tokens), it sounds a bit odd. When you hear the prices that people are paying to purchase these digital assets, it can become more of a mystery. What is it with these non-fungible tokens? If it’s only for the fun of it – why are so many major companies spending so much money on NFTs and collaborating with crypto sites?
Digital art for millions
When you think about what a business might be using its money to invest in, maybe NFTs aren’t the first thing that comes to mind. Even so, in the last few years, it has come to the public’s attention that major brands throw insane amounts of digital art. For example, when Adidas used $156,000 on a digital piece of art.
Why should you buy a piece of art that you can never see in real life or touch with your own hands? Well, because it’s trendy and new. Since then, a lot has happened, and Adidas is now making its own NFT collections. Just as many other brands are getting themselves ready for the Metaverse.
Right now, it’s hard to tell where NFTs are going in the future. For now, it is all over the place. And when something is trendy and widely popular, chances are that the big companies are going to jump on it. Which is exactly what happened with NFTs. Besides being in on the trends, there is also a potential earning from buying these NFTs. It would be silly to invest in something without the possibility of cashing in on your investment. And since the popularity of NFTs has only gone one way, it might be a good investment for these major companies. So, in general terms, big brands are buying NFTs to potentially make a profit but just as much to engage with their customers – which is what branding is all about in 2022.
New NFTs are trending
In the NFT world, things always move fast. Many new trends are emerging all the time and all sorts of new collections are brought to the surface. Check out buynft.com to learn more about the new trends and find out if you should tag along and get yourself involved. If a company is interested in purchasing an NFT, it’s all about knowing what’s trending and perhaps even seeing the trend before it hits.
It’s the same thing for any other investor. If you want to buy an NFT, you should do it when the token is as cheap as possible, so you have a potential chance of selling it with profit – unless it’s a collectible of yours of course. Even though you might look at the big brands and get inspired, there’s good reason to approach this investment with some caution. Buy them for the fun of it and only with money that you can afford to lose.