With everyone bearish, is it time to buy NFTs?

One of the most interesting innovations of the last few years is definitely blockchain technology. It became known through cryptocurrencies such as Bitcoin and Ethereum. Far less well known are so-called non-fungible tokens – NFTs for short. These are also based on blockchain technology but are not comparable to any digital currencies. Instead, it could be described as a one-off digitalthat serves, for example, as proof of digital music or works of art and thus represents their value.

See the current economic crisis as an opportunity

In recent years, the economy has staggered from one crisis to the next: be it a financial crisis, the pandemic, supply bottlenecks or – as is the case now – an energy crisis. The financial markets have not been shaken as they’ve currently been for decades. The result is price losses in all areas. Whether stocks, funds, cryptocurrencies, or even real estate record lower prices. This forces many investors to look for alternatives to their previous investments. When looking for new investment opportunities, more and more resourceful investors are discovering the opportunity to invest in NFTs. What makes them particularly attractive is that they have no instrict value. Instead, they have – similar to real pictures or works of art – a flucating price determined by the respective work and the interested party. So, if you invest in NFTs, you have made a similar investment as if you were to buy a picture or a work of art for your home gallery.

Which NFT’s are the right ones to invest in?

If you want to invest in NFTs as an investor, then you should pay attention to a few important framework conditions, especially in the current time. First of all, you have to know what to buy. For this, one should first research NFT projects like Cyber ​​Snails or others. For example, what is basically the only guide to Cyber ​​Snails NFT gives prospective buyers a comprehensive overview of places on the internet to buy Cyber Snails NFTs.

Now that you know where to buy what and what you are interested in as an investor – or what might promise a good increase in value – you should consider a few other factors when choosing the right NFT:

• Don’t go for an NFT that’s been around for a long time or that you see a lot of other prospects for. Especially with the latter, as an investor, you run the risk of paying too much and ultimately not being able to generate a .
• Consider whether this NFT could serve another function. For example, if an attractive mural or logo is offered, it could be useful for companies that want to become active in the metaverse. Corresponding NFTs can quickly increase in value.
• Build a network. Anyone who buys NFTs needs a network of like-minded friends and acquaintances who are also interested in NFTs and who talk shop and discuss new acquisitions. So, build up an appropriate network as quickly as possible to publicize your investments.

Of course, there is still a lot more that you should consider as a prospective investor in the area of ​​NFTs. But the points mentioned here create a first basis to avoid investing in completely worthless NFTs.

 Do Your Own Research