Category: 2. What are the Risks of buying NFTs?

Though the risks above might have out the fear of God into you it is worth balancing out the pros and cons of buying NFTs before deciding whether it is something you want to pursue. Pros The application of NFTs is expanding across different industries and use cases so understanding how they work is a…

The biggest security risk from buying NFTs comes from attempts by hackers to access your crypto wallet. The most common type of wallet for buying NFTs is a non-custodial browser wallet like MetaMask. Non-custodial wallets put you in complete control of your crypto assets – including NFTs – but require you to protect a fail-safe called…

Though the concepts behind the blockchain can be tracked back several decades widespread use of blockchain-based applications has only taken off in the last few years.  The speed of adoption of new use cases, such as NFTs, has left regulators playing catch-up, exposing buyers to significant hazards, the most significant being plagiarism. Though a non-fungible…

Given that a significant number of people buying NFTs are motivated simply by speculation the biggest risk associated is the potential loss in value.  Risks from loss in value of NFTs There can be no better illustration of this risk than the sale of the first tweet by Jack Dorsey bought by Malaysia-based businessman, Sina…

Though much of the hype around NFTs has focused on creating art that reflects the ethos of the crypto scene, their applications extend far beyond creating cool profile pictures linked to a blockchain. Enjoy it as any other form of art – Many NFT owners use them as a display of wealth, flexing on Twitter…

An NFT is a digital record, like a receipt, proving ownership of something (either physical or digital) such as a collectable item, like the pixelated drawing on a Punk Alien.  It is a record of when the item was created – or minted to use NFTs unique terminology – how much was paid for it,…

Non-Fungible Tokens, better known simply as NFTs, have quickly become one of the most popular applications of blockchain technology. Though there are a huge number of potential use-cases the focus has been on the speculative trading of NFTs as collectable art, inspired by eye-watering valuations of early collections. Opportunity is, unfortunately, always accompanied by opportunists,…