How to pick an NFT correctly ?
Three key factors to consider when assessing the value of an NFT are rarity, utility, and tangibility.
NFTs are more than collectables as they hold endless possibilities in real-world applications. The value of an NFT also differs for short-term or long-term holding depending on the asset the NFT represents. Collectors and traders can explore NFTs on byepix and observe premium auctions and mystery box lines from top brands and artists around the world.
.jpg?alt=media&token=7600342c-4246-43c1-8645-ad415ee49489)
It is hard to determine the exact value of an NFT because the asset class is relatively new. While tangible work of art like the Mona Lisa or physical collectibles like NBA player cards may have defined values, investors looking at NFTs may have a hard time when deciding whether collectible is worth their money and or they really want or need it. When NFTs begin to be used in many industries, three main topics will emerge to measure their value.
- Rareness
- Benefit
- Concreteness