Still, it is absurd to believe that NFTs are a smart and safe investment at this moment. “While NFTs are a useful tool that harnesses the power of blockchains, the notion that they’re a terrific or safe investment is wrong,” Thompson added. few years, as more and more people lose their jobs and housing after the spread of Covid 19, prices are seen to be growing exponentially.
In fact, on an average, renters spend more than 30% of their monthly incomes on housing. And on top of that property owners typically raise rents each year.
Since 2020, rent costs have increased more than 5 percent nationally, according to many insightful research on rental and housing around the world. There are much fewer homes available and homes are pricier than ever.
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Because of the following factors, NFTs have shown to be a beneficial investment: Creates Value for the Tokenized Asset: NFTs provide a means through which real goods such as art pieces can be tokenized, preventing duplication and granting sole ownership to the artist.
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What exactly are NFTs? NFT stands for non-fungible token, which implies there’s a wholly unique and non-interchangeable unit of data kept on a digital ledger that uses blockchain technology to establish proof of ownership hidden inside those odd artworks.
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NFTs can be anything digital (drawings, music, even your brain being downloaded and transformed into an AI), but the current buzz is focused on exploiting the technology to sell digital art.