a Tips for Investing in NFTs by Sumit Selli | Aug 11, 2022 | Business, Sumit Selli, Wealth Management
While the recent NFT trend has caught the attention of investors, they may not have the necessary knowledge about what these are and how they work. UK investors should set up a few things in advance before getting involved. Often referred to as complex concepts, NFTs are pretty simple to understand. They are essentially digital tokens that can be stored in a blockchain and are unique assets that can be bought and sold. Continue reading this guide to learn more about this asset and how you can get involved.
Buying NFTs – How and Where? You’ll know how it works when buying NFTs if you have used a platform like eBay. In most cases, the marketplaces that sell NFTs function similarly to an auction house. You bid on the asset and wait to see if you’re the lucky winner. Some sites also have ‘Buy Now’ options, where the asset price is 몭xed. One of the main di몭erences between NFT marketplaces and other platforms is that the prices are usually listed in Ether units instead of dollars. This ensures that the currency’s value constantly changes due to the market’s volatility. Most NFT marketplaces require you to use the Ether currency to purchase their assets. This is because most of the NFTs are part of the Ethereum blockchain.