NFTs Are Only Growing In Popularity But Will The NFT Trend Last?

Are NFTs going away anytime soon? Check out the video to learn more!

Welcome back to Bold TV with Philip Michael. Be sure to like, comment, and subscribe to Bold TV for other crypto news, and all things Bold.

There's a lot of hype around NFTs and is worth $7 billion!

But what does it all mean for everybody and where's it gonna go? Is it something that's a good investment?

People are starting to treat it as though it's a lottery ticket and that it's a gateway and possibility for you to get rich overnight. And of course, you'll see a lot of activity because of that. In reality, when you see something as an NFT, you have to find what a good use of it is.

A digital equivalent, for instance of an athlete, their sports card, a football player, or a basketball player, is something that creates the digital equivalent of a sports car that you might collect and you can do it digitally. You don't have to store it and it's safe that way.

We saw the rapper-singer Tory Lanez, he put out a million NFTs, a million tokens at a dollar each, which each token represented his album. So he sold his recording album as an NFT. It sold out in seconds!

Things like that where you see real utility, a real emotional connection, or tied to a community component, then after that people can actually share them and sell them. They can also resell them on the secondary market and make money from it.

With NFTs there’s a lot of interest, it is ripe for fraud, scams, and even crime. All together though we can see that NFTs are an interesting asset class.

Do you think we're just scratching the surface? Let us know in the comments below.

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