How to Sell NFT Profitably: Token Choice and Industry Prospects

Interest in non-fungible tokens has grown significantly this year. This led to the emergence of a large number of new NFTs. Experts talked about ways to effectively work with the new industry and make a …

Interest in non-fungible tokens has grown significantly this year. This led to the emergence of a large number of new NFTs. Experts talked about ways to effectively work with the new industry and make a profit

Non-fungible tokens (NFT) have become one of the trends in crypto investment in 2021. This asset class has experienced several waves of popularity in recent months. The first surge in investor interest in NFT came in the spring. In the first half of the year, token sales reached a record $ 2.5 billion – 26 times more than a year earlier. At the beginning of summer, interest in the industry slightly decreased, but already in August there was a new boom in NFT investments – the monthly trading volume on the largest NFT marketplace OpenSea reached $ 3.4 billion.

Against the background of growing investor interest, the supply of NFT also grew – many new tokens appeared on the trading floors. experts explained whether it is possible to make money by reselling little-known NFTs and whether it is worth investing in this industry.

Many nuances

The NFT sphere is the most difficult for investments due to the non-obviousness of the intrinsic value of assets, says Nikita Soshnikov, director of the Alfacash cryptocurrency exchange service. He recommended not to bet on this industry for young and inexperienced investors, since even professionals cannot always work comfortably with NFT.

When choosing NFT tokens for speculation or long-term investments, the expert recommended to be guided by the reputation of the asset issuer. For example, if it is a well-known basketball or football club, then the chances of growth, or at least the absence of a sharp collapse, will be greater, Soshnikov explained.

“In addition to the reputation of the project issuing NFTs, one should also look at the liquidity of tokens in the secondary market. In the primary market, demand is easy to manipulate, while in the secondary market there is a true demand for these assets, ”the expert added.

Working with art

Since the technology of non-fungible tokens is already widely used in art, then in order to find promising investments, it is necessary to use the resources where the worthwhile work is presented, says Elena Buidalina, product manager of Erachain. In her opinion, you can look for works of art on the Foundation, MakersPlace, marketplaces. Urban Files and others.

“To do this, you will have to start studying the art market as a whole, not just cryptoartists. For example, watch out for Marco Melgrati, Emanuel Dascanio, Andrei Berger, Elena Sheidlina, ”the expert explained.

Buidalina advised those wishing to trade NFT in the field of art to find artists participating in the Art Life festival on social networks and subscribe to their updates in order to be the first to receive news about the release of new works.

When reselling NFT tokens, the author's name plays a very important role, Buidalina noted. According to her, even in the secondary market, NFT from a well-known artist will most likely be bought as soon as possible, unlike art by a random author, which can be sold for months.

Working with NFT in the field of art is not much different from ordinary art, says Vladimir Smetanin, CEO of the Swiss financial company Newcent. In his opinion, the best strategy for non-professional collectors in this market is to buy the work that suits you. The main thing is that the price for this work is profitable, Smetanin explained. He believes that in this case, buying NFT can be a good investment.

Industry development

Now the NFT industry is just emerging, Soshnikov emphasizes, and for this stage, a large number of "garbage" projects is normal. Over time, such projects will leave the market by themselves and the industry will become more stable and predictable, the expert believes.

“The real NFT boom is yet to come,” predicted Soshnikov.

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