The popularity of non-fungible tokens, or NFTs, has exploded recently. As a result, seasoned investors have taken the challenge and decided to upscale their assets. Moreover, collectors, artists, and speculators support the movement as cryptocurrencies have skyrocketed in price.
In some instances, people have spent millions to acquire a single digital art piece. They trade these assets on NFT-specialised marketplaces with crypto and fiat currencies. Some of the most prominent examples include the pixelated CryptoPunks, Beeple, Pak, and XCOPY’s pieces.
If you want to get a hold of the trend, consider investing in non-fungible tokens. But what is the best way to invest in an NFT, and where do you start buying? Before making the first move, it might be better to understand this asset class. This blog explores the ever-growing craze for NFTs and the various types available on the marketplace. It also lists the non-fungible tokens worth investing in and some of the most promising NFT trading platforms on the wide web.
Why Are NFTs So Popular?
Besides being a novel trend and new things excite people, non-fungible tokens are an innovative approach to collecting. And before we discover the best way to invest in an NFT, let’s see why NFTs are gaining traction:
Limited Supply
Typically, buying digital media, including apps or movies, allows you to procure an unlimited amount of these. Conversely, NFTs are scarce. They usually get issued in limited collections, and you can only purchase a few before the issue sells out. Restricted stuff usually incurs a higher value.
One-Of-A-Kind
Non-fungible tokens are unique. In short, no two NFTs are visually identical or interchangeable. So unlike other assets like dollars, for example, each NFT holds a different value due to its distinctive coding on the blockchain. In addition, there are almost no limits to entering the market.
Trackable Ownership
When you own an NFT, you can track it on the blockchain. This layout creates opportunities for new digital business models and investments. For instance, companies and artists can sell NFTs and earn a percentage of the revenue from each sale. So, if a specific NFT increases in value or is in high demand, the owner can reap exceptional benefits.
What Is The Best Way To Invest In An NFT?
Let’s explore the digital assets you can trade now that you have a clearer picture of the inherent value. Depending on your preferences, you can decide which one is the best way to invest in an NFT in your specific circumstances.
Sporting Moments
Sports is one of the most prominent categories in the NFT marketplace. Many renowned brands like the NBA and ATP have resorted to selling ownership of video clips and images from critical in-game events. For instance, Australia Open sold individual items from the tournament as NFTs, including the umpire’s chair.
The projections are that, soon, tokenised sporting moments will be invaluable. Hence, many sportspeople and athletes support and sell NFT collections.
Digital Collectables
If you’re looking for the best way to invest in an NFT, try CryptoPunks. These are a collection of 10,000 unique digital characters created in 2007. Backed by non-fungible tokens, one CryptoPunk NFT sold for approximately $23 million in Ethereum tokens early in 2022. However, experts believe that this space has grown oversaturated.
In-Game Items
Many rare NFT tokens have come into existence thanks to gaming titles known as P2E. Users build their crew and earn digital tokens as they move through different worlds in the game. Also, players buy NFTs that are most likely to maximise their earnings.
Physical And Virtual Real Estate
Real estate is an appealing segment of the NFT marketplace. Such assets get represented by an NFT, and the traditional property sells along with its token. More strikingly, a four-bedroom house in Florida sold for $653,000 in Ethereum.
As for the virtual property, Decentraland is a great example. This 3D gaming world sells virtual land represented by a genuine NFT to players, and they can also build real estate. In December last year, 100 virtual islands living on the Sandbox platform (Metaverse game) went for over $4.3 million.
Which Are The Most Underrated NFT Platforms?
Though you can pick from numerous NFT platforms available online, each offers a different set of features and benefits. Plus, the fee structure can range from 1% to 15%. Here’s an abbreviated list of top NFT platforms to choose from when looking for the best way to invest in an NFT:
MakersPlace
Digital assets offered on MakersPlace are authentic and unaltered creators’ works. Since they are signed, the person who buys the original NFT is the only owner of the unique art price. As an immersive platform, MakersPlace allows members to buy and sell with cryptocurrency. Duplicated products remain non-genuine and non-signed. To do so, MakersPlace curators vet and approve all digital pieces and thus guarantee their quality.
Singularifty
Next on our list, Singularifty is your best way to invest in an NFT in the field of sports collectables. As a top sports NFT marketplace, the platform takes pride in one-of-a-kind digital editions. It curates NFTs thoroughly so investors can be 100% confident in what they’re getting. Besides storing and managing account keys for NFT assets, users can mint their non-fungibles. Creators can also guarantee that the copies are scarce and genuine on the blockchain.
GameStop
As an upcoming NFT platform committed to blockchain gaming, GameStop is a novel and exciting NFT marketplace. It has expanded due to selling video and NFT games created by talented developers.
GameStop focuses on in-game items, including digital properties, costumes, and weapons. The platform also strives to partner with video game giants to offer collectable NFTs that appeal to the fans of popular franchises.
Singularifty Helps You Invest Safely
Considering the vast NFT marketplace and the array of platforms promising to multiply your assets, picking one can be challenging. That’s why NextHash has created a robust NFT platform, which is 100% safe and convenient. Whether you’re a crypto whale or an individual sports fan, Singularifty offers unique virtual collectables.
Moreover, Singularifty supports content creators and is your best way to invest in an NFT with a high ROI. Navigating the platform is seamless, and you can find many helpful tools for trading. Take the challenge, and be the one to procure scarce sports NFTs with a far-fetching potential.