NFTs, or Non-Fungible Tokens, are digital assets that live on blockchain technology. Rapidly winning over everyone from traders to celebs, these tokens have become the talk of the town. Master investor, Justin Williams, explains the craze and why you, too, need to invest in NFTs today.
Non-fungible means something that is unique, non-interchangeable. NFTs are created in limited numbers. Justin Williams explains buying an NFT is similar to buying a signed copy of a book. Thousands of people might own that same book, but you are one of the few who owns one of the limited copies making your copy extra special. And invaluable.
NFTs allow you to own something unique, and that's exciting. For example, some high-stakes basketball match happens. A 7-second video captures the game-changing, legendary shot. This high-resolution footage is now made into 100 NFTs. Millions of curious souls, just 100 copies of the original footage. Owning one of the original video clips could prove to be phenomenally profitable. Why? Exclusivity carries tremendous commercial potential.
Additionally, Justin Williams says, military-grade secure networks and complex configurations make it virtually impossible to fake, alter, or duplicate NFTs making them unique in every sense. That, combined with their limited availability, gives rise to huge demand, effectively meaning that each owner sits on a gold mine.
These unique digital tokens have a lot to offer in terms of versatility. They are flexible assets that can be used in plenty of ways, making them the perfect investment to build a versatile portfolio. Owners can trade these digital collectibles on the global exchange, too. Their appreciating value, birthed by scarcity, makes them a highly favorable asset.
Till now, investors had stocks. Today, they have NFTs.
Per Justin Williams, we are witnessing the advent of a new, rapidly growing virtual universe - the metaverse. The steal-proof non-fungible tokens are one way that people can buy assets in the digital 3-D world. That can include investing in real estate by buying NFTs of a piece of land in the metaverse. With billionaire tycoons like Mark Zuckerberg taking a keen interest in the development of the metaverse, it will most definitely become a big part of our lives in no time. Following this, demand for NFTs will naturally spike.
Says Justin Williams, "No matter how you look at it, Non-Fungible Tokens are the future of clever investing. They're lucrative assets, and owning some would be a feather in your portfolio cap!"