Why Do People Buy NFTs?

Why Do People Buy NFTs?

Why Do People Buy NFTs?

So, there’s just a cute image or animation with the proof of ownership right, and then suddenly it is worth ten million. So, how is it explained, and why do people decide to buy NFTs?

The answer will be different for all types of NFTs as they’re all not the same. Ao, before we dwell on the grounds to buy them, let us see what types of popular NFT collections there are for this moment.

  • Functional NFTs

These collections are just like VeeFriends and Bored Ape Yacht Club. Items from such top selling NFT collections give owners exclusive perks and opportunities, from taking part in business events to having access to closed Discord channels of like-minded people.

These are items that, except for the uniqueness, are increasingly trending. For instance, they may concern about current cultural or political events and, therefore, find appeal to huge audiences and go mainstream. One of such NFT top collections is Crypto Punks.

In the opposite case, when the theme of an NFT collection isn’t familiar and appealing to most viewers, the chances of selling it are slim.

  • Aesthetic or passion NFTs

This is simply digital art to create something beautiful and outstanding. As a rule, it doesn’t have additional features layered on digital assets.

  • Utility NFTs

These are the best NFT collections when it comes to the use of NFTs in the real world. For example, they might open the door to exclusive events, offer tickets, albums, and even luxury cars.

So, apart from the reason of having a certain utility or just owning items from top NFT collections like pieces of art, another overall reason is to resell the NFT someday.

Read Also: What Would Be the Profitable Business Models in Metaverse?

Another big reason to purchase digital art is if you believe that this investment will soon become traditional. Not to say that NFT sales will replace all conventional money but just view it as an ‘alternative’ form of investment. If you had adopted this point of view back when the Bored Ape collection appeared and hadn’t sold the item, today, you would be enjoying the pure return of $70,000. Still, you need to be careful with projects that copycat the existing ones, even if they are popular. Their value is bound to go to nothing.

Whatever your reason for purchasing NFT collections, this will be right for you. Buying what has the highest value in your eyes might now seem a very lucrative purchase, but it can be the most valuable asset to you. The good point is that the sphere of NFTs brings freedom of expression and choice: not every other user has to agree with you about how valuable non-fungible tokens are.

Where Can NFT Enthusiasts Buy Digital Art?

Today the best places to purchase NFT top collections are NFT marketplaces. Most of them are bought with crypto coins such as ETH and, more rarely, Polygon and Solana.

Even beginners can quickly find their way around buying top NFT collections. Even if they have no crypto, fiat currency is easily converted to digital at exchanges like Kraken and Coinbase.

Among the most trusted platforms to buy top NFT sets, there are:

  1. com
  2. OpenSea
  3. SuperRare
  4. Rarible
  5. Foundation
  6. Mintable

Before actually purchasing any new game or image NFTs, we recommend you check which of the upcoming collections are still available and relevant. See full info on such NFT collections at TopNFTCollections.com, where all the recent top sales are ranked, and advice on buying them is given.

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