How to invest in NFTs

There is currently no regulated market for investing in NFT. In fact, it is normal that for many investors paying thousands of euros for digital images may sound crazy. But the truth is that many people are betting on NFTs.

The most difficult thing is to determine the value or growth potential of an NFT or a collection of NFTs, as it happens, for example, in the case of cryptocurrencies.

On the one hand, we have in mind this type of blockchain-related investments and we might think of trading (investments with very short term). However, on the other side of the scale, when we talk about art NFTs, we think that they revalue over time (or so it tends to be with art ‘to use’).

Therefore, it is important to consider the following before starting to invest in NFTs:

Read, research and understand this market in depth before ‘taking the leap’ into investing.
Choose a platform to buy NFT: Opensea, Rarible, Sorare, Minthana…
Analyze in detail what you want to invest in and soak yourself in the project: look at the person or people behind the project, developers, community, interest generated…
You should also take into account the time you are going to keep the NFT since part of the strategy of these cryptoassets is the revaluation over time. This is important to know how much you are willing to pay.

Once you have all this clear, enter any of the existing NFT platforms and make your investment with the steps they indicate. It will be essential that you connect your wallet to be able to proceed with the payment and even the auction. Take a look at its price history (if any), current bids for the work and review the information about the creator. Normally (as in the case of Opensea, the most famous NFT buying and selling platform), you can:

place a bid to become part of the auction. If accepted, your wallet will be debited.
Buy the artwork directly for the price you will see reflected. Of course, there are other ways to earn money with NFTs through different business models: being an artist and uploading your works or as a project developer.