Is It Worth the Money to Invest in NFTs? 

NFTs or non-fungible tokens are a unique type of token that cannot be interchanged because of their individual distinguishing attributes. To put it simply, NFTs possess distinct attributes that make it impossible to replace or exchange them.  

NFTs are also ERC-720 compliant and are mainly used for storing crypto-collectibles like arts. They offer a means of proving ownership and authenticity and also allow crypto gaming. NFT tokens are basically the tokenized versions of real-world or digital assets.  

It was in 2017 when NFTs first gained momentum after the launch of CryptoKitties, a type of crypto game. Being the original pioneer of NFTs, CryptoKitties gave players the ability to collect, sell and breed virtual cats, and store genetic materials.  

By December of the same year, there were already skyrocketing CryptoKitties transactions on the Ethereum network that amounted to over 12,000 transactions, resulting in an increased birthing fee for the kittens.  

NFTs were also contributory to the development and growth of virtual lands, leading to land ownership in the digital realm. The virtual lands’ economic potential is quite significant since this gives investors a chance to establish a secure and solid business for online sales or advertising in the virtual world.  

OVR, a platform powered by Ethereum blockchain and augmented reality, is treading this path by giving users the chance to become virtual landowners with the use of a non-fungible token called OVRland. 

Why Consider Investing in Non-Fungible Tokens Today? 

NFTs are proven to be profitable investment forms because of several reasons, including the following:  

• NFTs create value for tokenized assets.  

NFTs develop a medium where physical items such as works of art can be tokenized, which eliminates duplication of these artworks and limits ownership exclusively to the artist. In turn, this creates scarcity for the work of art, and its value as a result.  

• NFTs offer investors better liquidity. 

By tokenizing assets, investors are given better liquidity over the assets they own whenever they need it. A good example of this is when the virtual landowner decides to rent out their virtual space to influencers or advertisers for a fee and still retain land ownership at the same time. In this case, the owner still owns the virtual land although a part of this is liquified in the form of rent.  

• NFTs offer development and growth potential. 

NFTs have the potential for the development and growth of the land sector. Associating NFTs to pieces of land has proven amazing potential for development and growth. In real estate, for example, ownership and control of virtual lands endow you with the power to choose what to do with your land.

For instance, you can opt to rent out the land or establish a secure and solid business for online sales or advertising. 

If you are still on the fence about whether you should invest in NFTs or not, hopefully, the information mentioned above would have convinced you that this is a form of investment that will be worth your money, especially in the long run.