NFTs, short for non-fungible tokens, are rapidly growing in popularity. Some would say that they’re the next big thing. So, what are they, and why should you invest in them? NFTs are digital assets that allow holders to have complete ownership over something specific, such as digital art, music, cartoons, etc. Those who’ve invested in them can hold, trade, and even sell them in the future, gaining more from their investment than they initially paid out. If you’re not already collecting them or even thinking about starting your own NFT project, it’s the perfect time to do so! Check out these six facts worth knowing about these incredible digital assets if you’re still unsure.
#1. NFTs Have Existed for Nearly a Decade
Although you’ve likely only recently started hearing about people buying and selling NFTs or working on projects involving them, the first one to have ever existed was released eight years ago in 2014, meaning these non-fungible tokens have been around for nearly a decade. And, the demand for them continues to grow at such a rapid pace.
#2. More Men Are Taking an Interest in NFT Investments
While anyone can invest in NFTs, statistics show that men are more likely to invest and collect than women. Some would say it’s because women are skeptical about the process. If you’re a woman, prove them wrong! Investing in an NFT could help you earn a greater return after several weeks, months, or even years.
#3. There Are Some Extremely Valuable NFTs
Would you believe there is a single NFT worth a whopping $91.8 million? Can you imagine owning such a valuable digital asset? Although it’s the most valuable of all NFTs bought or sold, hundreds of others are also selling for millions. It’s better to invest now than to hold off and lose out on a chance to earn.
#4. Lots of People Don't Know Anything About NFTs
Although the non-fungible tokens are undoubtedly gaining traction throughout the digital world, over 70% of American citizens still have no idea what they are and why they’re valuable. Those interested in investing in something with the potential to earn big would need to understand the value behind these digital assets and what they represent before putting out any money.
#5. People Are Spending Big Money on NFTs
While plenty of Americans don’t know what they are, millions of others in different countries are well aware and are making investments now with hopes of holding something with value in the future. So, how much money are people spending on these digital assets? Around $41 billion worth of crypto in 2021 alone.
#6. You Can Earn Passive Income with NFT Sales
If you’re a creator, whether you make digital illustrations, designs, songs, or other types of content, you can earn passive income by selling NFTs. While most aren’t as valuable as $91.8 million, getting around $200 or more for each asset sold is still possible. Why not jump on the chance to make money doing what you love?
Now that you know more about NFTs, including how long they’ve existed and how much they tend to sell for, consider investing in them or starting an NFT project of your own. The benefits are tremendous, and the high earning potential is there!