I advise ordinary folk to steer clear of these exotic new digital assets. Current prices are high and the risk of complete collapse to zero is significant.
FTX crypto exchange has entered the non-fungible token industry by launching an NFT marketplace.
The marketplace also has other listed NFTs, such as FTX.US branded caps and others listed by third parties.
FTX has joined a growing list of brokerages that have entered the NFT space, including Gemini Exchange.
Crypto exchange FTX has joined the non-fungible token (NFT) space by launching its NFT marketplace.
The new marketplace will feature unique tokenized assets, allowing customers to bid on the asset of their choice. Some of the tokens have links to physical items and can be exchanged for their real-world equivalents.
Why put all savings into traditional forms of wealth such as land or shares? Why not into non-traditional forms such as Bitcoin and NFTs (non-fungible tokens)? These have made millionaires of initial investors. I advise.
If you follow either the Art world or the digital world, or both, you would have definitely heard of Vignesh Sundaresan, a blockchain entrepreneur of Indian origin, based out of Singapore, who was in news recently for buying a Beeple NFT created by artist Mike Winkelmann, for a whopping $69.3 million in an auction conducted by auction house Christie s!
NFTs or Non-Fungible Tokens are touted to be the digital answer to collectibles, in the same way as Bitcoins were to currency. In layman’s terms, non-fungible means something that has unique properties and cannot be interchanged with anything else. In short, they are crypto tokens connected to digital assets like digital art, music, films, in-game assets like NBA trading cards, collectibles etc; which are helping artists sell their art directly to art connoisseurs.