Why I finally decided to invest in NFTs by finding utility projects with value

Minimizing investment risk when buying NFTs

NFTs are all the rage. Some people call them modern art, equal to precious stones or other luxury goods. Others think NFTs are a great way to store and move money around while some go as far as to consider them nothing more than JPGs and even a Ponzi scheme. The real truth is likely somewhere in the middle and depends on who you ask and more so — which project.

NFTs are not new. They have been around since 2012 when colored coins known as Bitcoin 2.x were introduced. It would take years until a wider market became aware of them and even then, they were thought of as little more than “receipts” for ownership. Like any Nascent industry, NFTs, what could be done with them and use cases grew as time passed. NFTs were soon applied to real world activities, digital collectibles, in-game assets, identity verification and pieces of virtual worlds to name just a few applications.

We soon saw many artists, musicians, athletes, brands and a plethora of other entities minting their own collections targeting their fan base with “original art” and later access to experiences attached to the NFT in some cases as a value and use case. Hundreds of millions of dollars were collected in the process. With discussion of wash (fake sales to increase prices) sales aside, before we knew it, some of these NFTs were valued in the hundreds of thousands of dollars or more. Seeing a stampede of new NFT collections…