The world of investing continues to evolve, and every year seems to introduce new opportunities to earn serious money and build wealth. Besides, disruptive ventures and innovations are known to make investors rich.
As a new investor, you should be careful when choosing which investments to venture into. Some investments or ventures can be susceptible to manipulation and fraudulent schemes. But this is not the case for NFTs.
In this post Ryan Hoggan lends his voice. But first, who is Ryan Hoggan? And why you should listen to him on NFT investments?
Ryan Hoggan is an experienced entrepreneur, venture capital investor and a prominent market player in the blockchain sector.
What are NFTs
NFTs are non-fungible tokens that serve as a unique digital property. They are stored on a blockchain and represent storage of value that can be monetized. NFTs include filtering counterfeits and are backed by authenticity checks and originality receipts.
NFTs include digital works of art or creative products. So, they can be bought or sold on the decentralized blockchain market. Unlike most fungible cryptocurrencies, NFTs have an expansive market with buyers and sellers able to transact on multiple platforms.
Why are NFTs Important to You as a New Investor
Ryan Hoggan believes that NFTs have huge market growth potential due to their connection with cryptos and blockchain. He is confident that the NFT market will soon witness huge investments. Besides, investments in the market increased by 299% YoY to triple the total value in 2020.
A total sum of $250 million was traded in NFTs in 2020, with even some traders reaping huge profits above $100,000. Also, he explained that he felt that CoinGecko’s report on a $550 million market cap was explosive.
After all, Ryan believes that NFTs are worth what any buyer could be paying. He thinks that NFTs could be the next big investment that pay off.
Furthermore, he believes that NFT transactions will gain substantial attraction in the P2P market. What this means is zero stress, cost of brokers, middlemen, or even bankers. It is a seamless transaction between the buyer and the seller.
According to him, NFTs have a bright future ahead of them because they will exist for as long as blockchain exists. And blockchain will continue to exist for as long as we have the internet. Also, there are already big corporations working to build larger market platforms for trading NFTs.
So NFTs are here to stay! Ryan Hoggan believes the NFT market will experience sustained upward growth in the long term.
The debates around NFTs People are beginning to gather increasing interest from the public. So, people are working on learning more about how it works. And NFTs look inciting huge investment payoffs.
Closing Thoughts
No doubt, NFTs are a disruption that is set to establish a new decentralized trade order. Today, digital currencies and investments are moving faster than ever before. And NFTs are penetrating the investment market at a time where they can easily become a force to be reckoned with.
So, just like in real estate investing, there is no better time for investors to position themselves to become market pioneers in a potentially lucrative venture. Ultimately, NFTs could be the game-changer in the fast-evolving digital world of blockchain technology.
