Advantages of NFTs

According to CNBC, Here are the main advantages of NFT,

• NFTs provide a record of authenticity and ownership held and verifiable on the blockchain.

• They’ve fashioned a new market to create wealth, with high growth potential.

• NFTs generate efficiency with (smart) contracts by streamlining processes and eliminating intermediaries.

• They empower a new marketplace for artists, allowing them to sell directly to collectors and receive royalties whenever the art is resold.

• NFTs can potentially add diversification to your financial portfolio, as the economy and companies prepare for what’s next in a post-pandemic world. (That’s of course, only if you have the risk tolerance and liquid cash to invest at all.)

• Some NFTs give you real-world perks such as access to high-end events, groups, or associations depending on who the creators are.

• It is a very volatile investment. As with most art, digital or physical, the value of it is relative and based on what someone is willing to pay for it. That’s the “unique” nature of an NFT, which can be viewed as both a pro and a con.