During the Coronavirus pandemic in 2020, NFTs exploded in popularity. We can clearly say so, taking into account that in 2020 only, the NFT grew by 299% along with $250 million worth of transactions.
Because of all of this, numerous investors from all over the world have been drawn to the exciting crypto universe and ever-growing crypto community. Collectors, speculators, and artists are also gathered in this popular movement as digital assets, in general, have skyrocketed in price.
The most successful NFTs to this day
Some of the most successful NFTs that have been sold for millions of dollars are digital art from Beeple, Dorsey’s first tweet and pixelated CryptoPunks character portraits.
It’s no wonder why many investors started using rarity tools and other valuable instruments that help them determine the rarity and thus the value of their preferred NFTs they wish to invest in. However, one of the main questions remains – how to invest in NFTs the best in 2022?
For that reason, we’ve provided you with a simple guide.
Step-by-step guide on how to invest in NFTs
If you are drawn to the NFT blossoming world, it’s helpful to know and understand this step-by-step guide on investing in NFTs the best in 2022. Let’s start with the first step:
- Buy Crypto for NFTs on a trustworthy platform: To purchase the desired crypto to facilitate your NFT investment, it is highly recommended to use a trustworthy platform. Make sure that your chosen platform is under FINRA protection.
- Make a deposit: Once you have been assigned to the desired platform, make a deposit, usually no less than $10. Search for the “ETH” in the search bar. Click “Trade” and enter your position size in the order box. After all, that confirms the trade.
- Transfer crypto to your wallet: The next logical step is to transfer crypto to your crypto wallet. It’s essential to open a wallet that supports NFT’s blockchain network you desire to buy. Transfer all your crypto holdings from the platform into the wallet when done.
- Create an account with Non-Fungible Token Marketplace: When you get crypto in your crypto wallet, you should create an NFT marketplace account. Click “Sign Up” on the marketplace homepage and enter all your details, with your username and a password.
- Verify your account by clicking “Connect to App” in your settings menu, or you can verify it via SMS with your mobile number.
- Buy NFTs: Browse the NFT marketplace and click on an NFT you want to buy. Non-Fungible Tokens will be listed for either a fixed price or an auction. Confirm your order and enjoy your purchase!
What to expect in the NFT world in the following years?
All those wondering whether NFT is a good investment should know the forecasts in the long run. According to experts, BFTs will be standard in investment portfolios in the next few years.
Even though they might be considered speculative assets that are primarily unpredictable, BFT Market is expected to grow by an incredible amount of $147.24 billion during the next five years, progressing at a Compound annual growth rate – CAGR – of approximately 35.27%.