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Are you considering buying your first NFT? That’s a question that many people coming into the crypto and web3 space will ask themselves regarding if it’s worth the risk or not.
Buying your first NFT is a big decision, especially if you are brand new in the crypto world. It’s a question of whether to put money into a project or not and if you’re willing to dedicate time to researching NFT projects .
Some people may find themselves skeptical about the NFT space, as the things you hear might not always be positive. It’s natural to be worried about failed projects and those that turn out to be complete scams.
While all of these concerns are completely valid, they shouldn’t scare you away from buying your first NFT. Despite what you may hear, not all NFTs are expensive or scams. There are plenty of new opportunities arising all the time, not all of which are incredibly high-risk.
The NFT market as a whole is still young and is in the midst of welcoming new individuals. Still, considering the volatility of the market, it’s best to ensure you’re in good financial standing before diving in.
If you have already made sure of that, then great. Let’s check out some reasons why you should buy your first NFT.
One of the biggest perks of getting your first NFT is that you’ll come to learn more about how Web3 operates. NFTs are a gateway to immerse yourself in the new world of web3 , which is defined as the next phase of the internet.
You’ll slowly learn about NFT uses and discover that NFTs can play several different roles in the next phase of the web. Some NFTs will act as a piece of art or a collectible, while other projects will have actual utility behind them.
As you experience and learn about these new technologies, you will come to realize how new this market is. NFTs and web3 are still in the early adapter stages, meaning that everything moves fast, and their technology will evolve right before you.
Buying into NFTs now could mean that your knowledge will be ahead of the curve by knowing web3 inside and out. Ultimately, this early knowledge could turn into potential career opportunities in the future or just be useful knowledge depending on the direction the future takes.
To stretch your potential learning further, NFTs can also be your gateway into crypto and blockchain technology. Just purchasing your first NFT will be a trial by fire on conducting and managing crypto transactions.
For some people, NFTs will be a fun way to expose themselves to the world of crypto and learn more about how different cryptocurrencies work. Others may learn more about how to read market trends and the proper time to buy or sell.
Both options are valid ways to learn about blockchain technology but don’t underestimate how much you can learn from buying NFTs. Along the way, you’ll discover how to set up wallets, purchase crypto from an exchange, send crypto from one wallet to another, and buy/sell NFTs on marketplaces.
If learning about web3 and blockchain technology isn’t what you are looking for, then it might be worth looking at the social aspect of NFTs.
Even though NFTs are digital, they open holders up to exclusive communities where they can make new friends and connections. Having useful connections and friends can be very valuable in the long run.
Communities like these are usually full of like-minded people who also bought into the respective project. When joining such communities, meeting all sorts of new people with the same interests and goals is possible.
Professionals in various industries may also be hanging out in some of these communities. You never know if you may run into a business owner or executive in these groups. Who knows, you may even meet a friendly bunch willing to help you launch your own project .
While we’ve only just touched the surface of NFT perks, you may find plenty of others. Keep in mind that not all of these perks are guaranteed for every project, and it’s important to read a project’s roadmap to see if they promise any of these rewards.
Here is a brief list of different bonus rewards that you can potentially find.
An airdrop is a commonly found bonus where holders are given a share of a project’s newly released token, new NFT, or another digital asset right into their crypto wallet.
Projects might also reward their holders with exclusive merch. This can be physical merch or even digital accessories.
Exclusive “holder-only” meetups and events are also a way for projects to showcase their appreciation. These could be in-person or digital meetups on a metaverse platform. Sometimes they may even take place at a mansion or yacht.
Many existing projects look to collaborate with each other, and this includes getting whitelist spots for each other’s communities. Getting whitelisted means that you can dodge the queue for new projects and have a guaranteed NFT mint when a collection drops.
For NFT games and metaverses, rewards are granted to holders by giving access to in-game earnings. If an NFT can be used in a game, then it might grant the holder better earning rates or even the ability to create other NFTs, known as breeding.
Generally speaking, collecting or investing in NFTs might not be for everyone, but buying at least one is something everyone should consider. You never know what it may lead to.
If you want to dive deeper into the NFT world, join our BingX Community to earn and learn more about the Metaverse, Web3 and gaming!
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