The NFT market shows some signs of a cool-down, but it doesn't seem as dramatic as some experts predicted. While the prices of most cryptocurrencies went down, NFT traders still make money. Buying NFT drops at low prices and selling high works as a short-term investing strategy.
Can NFTs be long-term investments?
Now experts and investors ensured that the crypto market doesn't drive NFT prices. It has made NFTs attractive assets for many investors during the latest crypto crash. Investors have started investing in NFTs instead of buying crypto, which drives crypto prices down. It drives NFT prices up because demand picked up in response to the behavior of these short-term investors.
Still, this trend will not last long because NFT activity will be falling off. High inflation, a rise in interest rates, and a decrease in employment lead investors to flee modern investments like crypto and NFTs and put money into safest assets like bonds.
But the NFT market won't crash. Venture capitalists have invested significant money in the NFT market, and will keep it buoyed for as long as needed.
Our world is changing. NFTs adoption and the next cycle of economic growth will boost the NFT market. This is why it makes sense to invest in NFTs for the long term.
There are many different types of NFTs, collections, and projects out there, and it can be hard to know which ones are worth investing in. How to create a lucrative long-term NFT investment portfolio?
If you want to invest in NFTs, you should follow basic investment rules. It is a good idea to start by doing your own research. Study various NFT marketplaces to find an intuitive and user-friendly, secure one. Then you should scout for the right NFT project to invest in. Some investors invest in utility collections. Other investors prefer rare collections to invest in. Utility and rarity create NFT value. NFT gains value with time and its price can go up by 10,000%. Patience is key for long-term investors.
You do not need to start bidding on million-dollar NFT projects. Collections that range from $50 to $500 can be good investments. Also, you can invest in an ownership percentage in NFT projects instead of buying NFT collections.
There are some popular collections that can be interesting for NFT investors.
Crypto Baristas. This project is interesting because it has long-term goals. One of these goals is to improve the sustainability of the coffee supply chain.
Doodles project is one of the NFT collections that has taken the NFT market by storm.
SkinDrops is an NFT-exclusive collection of unique weapons that can be used to access the metaverse.
To buy NFTs, you need some cryptocurrency. The safe place to exchange your fiat money for crypto is the EvBlock site (powered by EVANERA, a fintech company from Switzerland, Reg N. CHE-265.995.382) https://evblock.com/