NFTs are becoming more prominent in the modern age. Last year was a terrible year for the crypto market. Despite this, NFTs sales were still growing every day. Data shows that 2022 saw a strong start to the NFTs market, which helped to make up for the weaker months.
One report states that the NFTs market generated $24.7 billion in organic trading volume across all blockchain platforms and marketplaces in 2022. The total of $25.1 billion reported in 2021 was slightly less than that amount. These are the top 5 factors that contributed to NFTs’ sales last year, despite the market crash.

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Investment Opportunity
Because of their unique qualities, NFTs are often considered an investment opportunity. Because they are not easily divided, each NFT can have a greater potential value than any of the cryptocurrencies that were used to buy it. They are a good investment for anyone looking to make a profit. Their value is highly dependent on demand and the price someone is willing to pay.
Also read: What is NFTs rarity? Why is NFTs important to have a high degree of rarity?
Digital Store Capital
NFTs are a digital storehouse of capital because of their ability to hold value. NFTs can be considered a safe and stable investment option, as they are not subjected to inflation like traditional currencies. However, experts warn that this is not always true. Some experts believe that the value of NFTs could drop by as much as 90% over time.
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Tax Advantage
NFT may offer tax advantages over conventional bonds or stocks. This is because NFT is considered a property and is subject to capital gains tax.
Digital Ownership

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It is safe to verify digital ownership using NFTs. It is almost impossible to steal or forge an individual NFT. Each NFT is tracked and verified via a decentralized blockchain. They are ideal for protecting digital rights, especially when it is related to tangible assets such as real estate.
Long-term Value
NFT investors believe that they have long-term value and potential. NFTs can be any digital asset, including art and collectibles. Some NFT projects are rare, like CryptoPunks, which was one of the first NFT-related projects. CryptoPunks are well-liked by the community and often sell for six to seven figures each.
Also read: What is Real Estate NFT? What is its impact on the real estate sector?

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The content presented may contain the author’s personal opinion and may not reflect current market conditions. Before investing in cryptocurrency, do your market research. The publication or the author are not responsible for any financial loss.

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