What are NFTs? | Marvin Germo
MMGM-Logo

Do you want to Make Money and Grow Money?

YES, I want it!

What are NFTs?

By: Marvin Germo | March 20, 2021

After you’ve invested in stocks, cryptocurrencies, mutual funds, and other common portfolios, now what? Do you stop from there? I suggest you diversify your portfolio if you can. If you have more money to put in investments, don’t hesitate to regularly top-up. As early as now, you should be working on your financial security. And, in terms of cryptocurrencies, it’s actually not only Bitcoin and Ethereum where you can invest. There are also NFTs worth investing in.

Let me share with you what NFTs are and how they actually work. I hope that by the end of this blog, you can already fully assess if this investment is worth the money!

What are NFTs?

NFTs are collectible digital assets that are currently of good value today. They form part of cryptocurrency. NFT stands for a non-fungible token, which is almost similar to cryptocurrencies like Bitcoin and Ethereum. However, unlike these cryptos, NFTs are non-fungible. This means that every NTF is unique and is unexchangeable. What makes it more unique is that it stores information that makes it a pure currency. NFTs varied a lot. There are those that form part of a music file, crypto, or any digital art. Its worth is like any other collector’s item but since we are talking about digital here, you don’t get any physical asset. Instead, you get a JPG file.

Catch me in my live training events! (quick plug)

The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing.  I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the training below.

Stock Smarts Zoom Technical Analysis
Stock Smarts: Live Traning Fundamental Analysis

NFTs and Ethereum

NFTs and Ethereum are connected to each other. NFTs form part of the blockchain Ethereum, as individual tokens that can store extra information. That information can be used in different forms of digital arts, music, video, etc. What’s more interesting here is that NFTs are valuable like those cryptocurrencies. They are sold like any piece of art and their value is set by the market and depending on the demand.

Where can you buy NFTs?

Like cryptocurrencies, you also need a platform where you can buy NFTs. However, not all kinds of NFTs are available on just one platform. You also need to consider what you are buying. For example, if you are interested to buy baseball cards, then you can head to websites like digitaltradingcards. There are other platforms but again, consider the type of NFT you are planning to buy. We’ve mentioned video games earlier. In video games, the ownership doesn’t shift to you when you buy it from the gaming company. This means that you are only allowed to use the game, not own it. But with NFT, the ownership transfers to you, which means that you can sell it in a gaming platform and buy a new one as an investment.

What makes NFTs controversial?

Well, people are more concerned that the creation of NFTs is consuming a huge amount of carbon footprint. NFTs are known to use a large sum of energy before they can be created. So even if an NFT is just a simple GIF, it can already consume so much energy that can equate to your annual consumption of electricity at home.

NFTs are investments. Don’t forget to research more on the types of NFTs so you can use your money wisely!

I’m excited to share my 5th book overall and the 4th book in the Stock Smarts series, Stock Smarts: Breaking the Resistance – How to time your traders perfectly. The heart of this book is to teach you strategic ways on how to come in and buy and sell stocks in a way where you come as the market is headed up and come out as the market is headed down. The book is now out and exclusive via Marvin Germo Book Orders.
For more details and to order my other books: Marvin Germo Book Orders

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

To join a stock market mailing list – click this.