{"id":71157,"date":"2022-04-28T05:56:02","date_gmt":"2022-04-28T05:56:02","guid":{"rendered":"https:\/\/www.justwebworld.com\/?p=71157"},"modified":"2022-04-28T05:56:22","modified_gmt":"2022-04-28T05:56:22","slug":"is-nft-worth-the-money","status":"publish","type":"post","link":"https:\/\/www.justwebworld.com\/is-nft-worth-the-money\/","title":{"rendered":"Is NFT Worth the Money? Discover the Basics"},"content":{"rendered":"<p>You\u2019ve heard of that exciting acronym: NFTs. Maybe you\u2019ve seen it in the form of memes and GIFs boasting expensive price tags, or as a profile picture or ticket granting exclusive access to a virtual or in-person event.<\/p>\n<p>If you are thinking of investing in NFTs, you need to know the basics. Keep reading for everything you need to know about <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.nonfungiblefilms.io\/\" target=\"_blank\" rel=\"noopener\">NFTs explained<\/a><\/span>.<\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-71159\" src=\"https:\/\/www.justwebworld.com\/wp-content\/uploads\/2022\/04\/NFT-Worth-the-Money.png\" alt=\"Is NFT Worth the Money?\" width=\"565\" height=\"412\" srcset=\"https:\/\/www.justwebworld.com\/wp-content\/uploads\/2022\/04\/NFT-Worth-the-Money.png 565w, https:\/\/www.justwebworld.com\/wp-content\/uploads\/2022\/04\/NFT-Worth-the-Money-300x219.png 300w\" sizes=\"(max-width: 565px) 100vw, 565px\" \/><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.justwebworld.com\/is-nft-worth-the-money\/#What_Are_NFTs\" title=\"What Are NFTs?\">What Are NFTs?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.justwebworld.com\/is-nft-worth-the-money\/#Cryptocurrency_and_Digital_Wallets\" title=\"Cryptocurrency and Digital Wallets\">Cryptocurrency and Digital Wallets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.justwebworld.com\/is-nft-worth-the-money\/#Figuring_out_Your_NFT_Price_Point\" title=\"Figuring out Your NFT Price Point\">Figuring out Your NFT Price Point<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.justwebworld.com\/is-nft-worth-the-money\/#Selecting_an_NFT_That_Works_for_You\" title=\"Selecting an NFT That Works for You\">Selecting an NFT That Works for You<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.justwebworld.com\/is-nft-worth-the-money\/#Whats_Worth_it_For_You\" title=\"What\u2019s Worth it For You?\">What\u2019s Worth it For You?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.justwebworld.com\/is-nft-worth-the-money\/#The_Bottom_Line\" title=\"The Bottom Line\">The Bottom Line<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_NFTs\"><\/span><span style=\"color: #993300;\">What Are NFTs?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"https:\/\/www.fool.com\/investing\/stock-market\/market-sectors\/financials\/non-fungible-tokens\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline;\">Non-fungible tokens<\/span><\/a>, commonly referred to as NFTs, are digital tokens that represent ownership of unique assets or items. NFTs can range from GIFs, digital images, to tickets and virtual clothing.<\/p>\n<p>NFTs have taken the world by storm in recent years, and now represent a robust multi-billion dollar market.\u00a0 But is the hype worth it, or will the excitement about NFTs fizzle out as quickly as it has glowed up?<\/p>\n<p>NFTs aren\u2019t just pictures online or screenshots from internet culture. NFTs have expanded into a multi-billion dollar industry that connects artists with buyers, and contains expansive projects with multi-year plans. NFTs aren\u2019t just digital pictures in galleries, they are legitimate tokens that represent unique assets.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cryptocurrency_and_Digital_Wallets\"><\/span><span style=\"color: #993300;\">Cryptocurrency and Digital Wallets<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Another thing to consider when deciding to purchase an NFT are the costs associated with acquiring digital assets. You will need a place to store your NFT, and oftentimes those storage spaces are in the form of a digital wallet which costs money.<\/p>\n<p>Many digital wallets can exist in a cloud-based format, wherein your cryptocurrency and NFTs live in a virtual wallet that you can access via the internet. However, the more secure option is more likely to be an offline option, or a cold storage hardware solution.<\/p>\n<p>This can be an external harddrive, or an offline hardware wallet that can hold your crypto and NFTs without the risk of someone accessing them through the internet.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Figuring_out_Your_NFT_Price_Point\"><\/span><span style=\"color: #993300;\">Figuring out Your NFT Price Point<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The price points for NFTs can vary greatly, and often coincide with the project\u2019s rarity, <a href=\"https:\/\/www.justwebworld.com\/best-nft-marketplaces-to-buy-and-sell-nfts\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline;\">marketplace<\/span><\/a>, and associated perks and benefits.<\/p>\n<p>For example, the <a href=\"https:\/\/opensea.io\/collection\/cryptopunks\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline;\">CryptoPunks<\/span><\/a> minted in 2017 were given away for free, but are now reselling for millions of dollars. While the majority of NFTs selling are in a lower price range between $500-$1500, there are a number of NFTs that are consistently selling for millions of dollars.<\/p>\n<p>Whatever NFT you choose to purchase is going to be based on your price range, investment commitments, and interest in the NFT project.<\/p>\n<p>How much you\u2019re willing to invest is up to you, but be sure to conduct research about the type and scale of the project you\u2019re interested in and some comparable NFT projects and how those projected values line up.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Selecting_an_NFT_That_Works_for_You\"><\/span><span style=\"color: #993300;\">Selecting an NFT That Works for You<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Asking whether an NFT is worth the money is a complex question. When you choose to invest in stocks, or join a gym, is there a guarantee of a return? No. There\u2019s never a guarantee when you\u2019re dealing with a market, and in the case of the gym\u2026 well, your return comes when you work for it.<\/p>\n<p>Though going to the gym and purchasing an NFT aren\u2019t the same thing, there\u2019s always a level of risk involved and a level of reward. NFTs comprise a multi-billion dollar industry, and there\u2019s good reason for that.<\/p>\n<p>NFTs open up access to a number of exciting digital and real-world opportunities, and it all depends on the kind of NFT \u2013 and it\u2019s associated perks\u2013 that you want to pursue.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Whats_Worth_it_For_You\"><\/span><span style=\"color: #993300;\">What\u2019s Worth it For You?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Do you seek a more connected digital community? Are you an art collector? Do you get joy out of internet culture, memes, and GIFs? Perhaps you\u2019re a serious gamer and want to honor that commitment. Whatever your motivation for purchasing an NFT, there\u2019s an NFT for every interest and the potential with NFT continues to be virtually limitless.<\/p>\n<p>NFTs are also a really compelling argument for committing to a more accessible internet space. Built on blockchain technology, NFTs are examples of what a decentralized, more transparent marketplace can look like online with offline counterparts.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_Bottom_Line\"><\/span><span style=\"color: #008000;\">The Bottom Line<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>As with any investment, it\u2019s suggested that you conduct thorough research before investing. What are your investment priorities? How might you go about thinking through what kind of NFT is best suited for your personal and financial goals?<\/p>\n<p>Build your virtual wallet, join marketplaces that have piqued your interest, and browse for an NFT that calls to you. Invest time, before you invest your money, into researching what the project is about.<\/p>\n<p>Read the NFT roadmap, their business plan, their commitments to you as investor, and what your return \u2013 aside from the financial growth \u2013 might look like. Will you get access to exclusive sales?<\/p>\n<p>Entrance into virtual or in-person concerts and events? Figuring out what kind of NFT you want can be the most difficult part. Once you\u2019re invested, make sure it\u2019s stored securely so that you can protect your investment as it grows.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You\u2019ve heard of that exciting acronym: NFTs. Maybe you\u2019ve seen it in the form of memes and GIFs boasting expensive price tags, or as a profile picture or ticket granting exclusive access to a virtual or in-person event. If you are thinking of investing in NFTs, you need to know the basics. Keep reading for [&hellip;]<\/p>\n","protected":false},"author":897,"featured_media":71159,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[16167,59321],"tags":[30983,54338,59322,59475],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Is NFT Worth the Money? Discover the Basics<\/title>\n<meta name=\"description\" content=\"If you are thinking of investing in NFTs, you need to know the basics. 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