8 Things To Look For When Buying An NFT

NFTs (aka Non-Fungible Tokens) have taken the crypto world by storm over the last year. Most importantly though, is the fact that they are rapidly moving into the mainstream world. 

8 Important Points To Consider Before Buying Your First NFT

Consider these top points before you spend your hard-earned money on a digital asset. 

1. Utility

The first and most crucial question to ask is, “What is the purpose of this NFT?” The answer will usually fall into one of the following categories: 

Art Metaverse  Gaming  Event/Entry Tickets  Music And Media  Trading Cards/Collectibles 

2. Artist And Team Behind The NFT

This is still one of the best measures of an NFT’sNFT’s future success. Do some research into the artist or team who created it.  

3. Platform And Token 

You can buy NFTs on a whole host of different platforms, whether Opensea, Solsea, Super Rare, Binance NFT, etc. 

4. Metrics

This is one area that is often overlooked. NFTs look like art, but they are still just digital tokens like cryptocurrencies. 

Things to look for are:  Owner %   Activity over time  Market Cap 

5. Authenticity

A simple point, but one that has caught people out. You need to verify that the NFT you are buying is, in fact, part of the collection. 

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