During The NFT Moment on January 26th, Jeff Brown will reveal one of his favorite cryptocurrencies right now. Are you ready?
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Are NFTs Risky or Safe Cryptos in 2022?
First of all, an NFT or an non-fungible token is an non-interchangeable unit of data stored on a blockchain. Basically, once you have an NFT, it's yours and no one can change that record on the blockchain except for you.
At this moment you're probably picturing those 8-bit or finny monkey avatars that sell for thousands of dollars. That's how the media represents NFTs, and if you don't know what I'm talking about, you're in for a treat.
Now, there is nothing wrong with those NFTs avatars and some of them serve a purpose, but mostly are about prestige or being part of a club. Which means you can make a lot of money investing in NFTs like those avatars, and I know a good amount of people that do, but it's risky.
It's like with art, or other things that have subjective value, a painting can be worth $10 to one person or $10 million to another. Who really decides this value? The individual? The Market? Other people? A collection of all of them?
Now, I'm not going to pretend I know anything about art. Which brings me to the point why I haven't invested in NFTs like the ones mentioned above, and maybe never will. Why? Two reasons:
- Don't know know much about it
- Don't care much about it either
You see, you need learn a lot about these NFTs to be profitable as predicting future value is the key to success. Which means you need like it and care about it, or at least do all the for the money.
However, before you give up on NFTs is there a better way?
NFT Moment: Are NFTs More Than Just Avatars?
An NFT can be anything, a piece of art, a movie ticket, a digital item, or even a virtual car or a house. Where are virtual items priced the most? Video games and virtual worlds.
Woah, we went from little pictures to game changing technology, pun intended. Even if you hate games, or never played one, you can see the impact games had on the world for the last 40+ years.
At this point we have seniors that would bust some sweet moves playing arcade games in 1970s and 1980s. In fact, an average gamer in the US is 35 years old. This is not kids playing on their phones, it's adults with jobs and money.
I'm getting ahead of myself, but the future of NFTs is in games. Agree?
Jeff Brown from The NFT Moment Thinks So?
Now, I don't know what Jeff Brown thinks but with The NFT Moment he points out how some of the best performing cryptos in 2021 and 2022 are based around games, either their in game currency, token or NFTs inside these games.
You see, unlike the NFTs we see on TV I think NFTs in games and virtual worlds are going to be much more profitable than pictures and avatars. These will quickly get over saturated and while the originals will probably we worth a lot for a long time, the ones that are being pumped out by the masses will not.
On the other hand items that can be used in games, traded, sold or as barging rights have more value than the above. Especially as the game grows their player.
Now, I could be a 100% wrong and silly pictures will take over the world. While crypto games will not take off and die… But seriously, which one is more likely? People getting bored of silly avatars or people stop playing games?
Jeff Brown's NFT Moment
Make sure to check out The NFT Moment on January 26th with Jeff Brown for more information and his take on.
Also, if you want to dive more into NFTs and how to profit with them check out This docuseries about it.
Finally, Jeff Brown also has a whole take on tokenization that is full of golden nuggets if you're into investing and money making.
Any comments on the NFT Moment with Jeff Brown?