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INVESTING INTELLIGENTLY IN NFTs
5 tips from our partner 7investing on NFTs
How can you avoid making mistakes when investing in NFTs?
Our CEO Hoda Mehr met up with 7investing’s Simon Erickson and Steve Symington to chat about the NFT world. Here are 5 gems from their conversation:
1️⃣ “Invest like an art owner.” It can be tempting to flip NFTs for a quick profit as this emerging market begins to take hold, but thinking (and holding) longer-term could add a couple of decimal points to your gains! 💰
2️⃣ The NFT market will continue to be volatile, but there are some stocks that are adjacent to the industry and could benefit from further growth in the industry. Companies like Cloudflare (#NET) are adding NFT support to their internet infrastructure services.
3️⃣ How do you evaluate an NFT? Just like any collectible, it’s about uniqueness, identity, and most of all PEOPLE. The bottom line is, the price is determined by what people are willing to pay! 📊
4️⃣ Most NFTs can (or need to) be bought with cryptocurrency. Regardless of how they are purchased, your ownership of an NFT is saved on blockchain technology. Stocks like Coinbase (#COIN) are the basis of the infrastructure for the NFT consumer’s world.
5️⃣ There will likely be an eventual “race to the bottom” in the NFT industry in terms of fees and other structures. Take Robinhood’s (#HOOD) zero fees model, for example! There’s been a lowering of the barrier of entry for retail traders as brokers compete for userbases.
Catch the rest of the conversation here!
BONUS NFT COLLECTION
Check out the Non-Fungible Token (NFT) collection on Stock Card
💥Bonus💥: Your best bet may be investing in large companies with game plans on how to profit from NFTs. Check out the NFT collection on Stock Card with 33 stocks to kick-start your research!