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How can I invest in an NFT in 2022?

 


What are NFTs?

NFTs are non-fungible tokens. These are digital, unique objects based on blockchain technology. These objects are non-fungible, ie they cannot be reproduced. On the other hand, bitcoin, for example, is fungible, it can be reproduced extremely often.


Bored Ape

The special thing about the NFTs is that they are unique and cannot be copied. As a result, NFTs have become extremely popular, especially on the digital art market, in recent years. Digital art auctions emerged . The advantage is that ownership can be clearly proven by the blockchain and that counterfeiting is almost impossible.


What blockchains are NFTs based on?

By far the most important blockchain for NFTs is the Ethereum blockchain. Ethereum was the first blockchain to introduce smart contracts and could thus form the basis of decentralized applications. The Ethereum blockchain is the basis of a majority of the NFTs on the market.


Another blockchain that has made extreme strides in the NFT space in recent months is the Solana blockchain. Solana has the advantage that the transaction speeds are extremely high compared to Ethereum. The NFT collection "Degenerated Apes" triggered a massive surge in Solana's SOL token in 2021. 


There are numerous NFT platforms that mainly offer NFTs based on the Ethereum blockchain. There are also specialized NFT platforms for Solana NFTs where you can invest in an NFT in 2022. You can find out more about this later in the article.


What kind of NFT can you invest in?

The largest market where NFTs have gained an impact is the digital art market. In recent years, digital works of art have been created that are offered on digital marketplaces. Cartoon character collections like the Bored Ape Yacht Club are particularly popular .


Bored Ape Yacht Club

Furthermore, the area of ​​gaming should be mentioned here. You can now play decentralized games and purchase NFTs within those games. You can invest in an NFT, which gives you special privileges or advantages within a game.


The Metaverse is a topic that has been closely entangled with the NFTs since 2021 at the latest. The Metaverse represents a digital space where you can purchase NFTs. In the future, companies such as sporting goods manufacturers could use this to offer digital products in the form of NFTs. 


Where can I invest in an NFT in 2022?

If you want to invest in an NFT, you should use one of the major NFT platforms. You can find an overview of the NFT platforms here .


In the following we would like to briefly introduce you to the most important NFT platforms in 2022:

1. OpenSea

OpenSea is probably the most well-known NFT platform in 2022. On OpenSea you can invest in an NFT and also create and sell new NFTs. OpenSea has existed since 2017 and is considered the first NFT trading platform.  You will find a large number of different NFT collections there. You can purchase the NFTs on OpenSea if you connect your Ethereum wallet to OpenSea.

2. Rarible

Rarible is an NFT exchange that focuses primarily on the creators of the NFTs, i.e. on the artists. However, you can also invest in an NFT from the collections, buy it and sell it again. Rarible only opened in early 2020.  The marketplace is clearly designed and focuses on the creation process of NFTs.


3. Binance

Binance is the world's largest cryptocurrency. Founded in 2017, the platform has become the number 1 in crypto trading in recent years.  It is also possible to invest in an NFT in 2022 on Binance. The NFTs are traded on the Binance Blockchain. The Binance Coin is available as a payment option. 

4. Magic Eden

Magic Eden is one of the largest NFT platforms offering NFTs based on the Solana blockchain. Here you can invest in an NFT if you are a fan of the Solana blockchain. You pay with the SOL token. 


What should you consider when investing in NFTs 2022?

NFTs have become mainstream in recent months and years. With the digital works of art, some six-digit sums are converted. However, with its popularity, scammers are also becoming more common. Therefore, you should follow a few rules in order not to lose your money:


Only buy on established trading platforms for NFTs!

Don't buy on unknown platforms that don't have reviews and aren't used by the mass traders!

Don't fall for the supposedly extremely profitable deals that are aggressively advertised!

Do not trade with private individuals outside of well-known trading exchanges!

If you follow these simple guidelines, you should be relatively safe from NFT scams.

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