Clancey Braxton Yohman Shares: How The NFT Landscape Is Changing
These unique, blockchain-based assets are currently trending in the digital marketplace. As an investor, you must follow the market closely. The NFT landscape is changing, and you need to know how.
Clancey Braxton Yohman, a veteran in Cryptocurrency and NFTs, shares how the NFT landscape is currently evolving in an interview below.
How Is The NFT Landscape Changing?
Clancey Braxton Yohman: The NFT Landscape is continually changing, in fact a lot of businesses are entering the NFT space. This is also due to the rapid digital development across the world. Currently, the NFT landscape is shifting towards utility.
NFT utility is what gives its owner real benefits, privileges, rewards, and rights. It makes NFT more than a mere digital asset.
What Are The Top NFT Marketplaces?
Clancey Braxton Yohman: One of the top NFT marketplaces is the Opensea marketplace, launched in 2017. It is currently regarded as one of the most popular and best NFT marketplaces in 2022.
The platform is also beginner-friendly as it educates beginners on engaging and purchasing NFTs. The platform also accepts Cryptocurrency, such as USDC, Solana, and Ethereum, for NFT sales.
The Binance NFT marketplace is also one of the top marketplaces. The NFT marketplace was launched in 2021, and it features beginner-friendly onboarding.
The platform also has low transaction fees and smart contract compatibility. The platform focuses on its users’ education, making it the first choice for persons new to the NFT marketplace.
The transaction charges are also an impressive 1% compared to the 2.5% charge on Open sea.
Other top platforms with impressive NFT marketplaces include; SuperRare, Rarible.com, and NBA Top Shot, among others.
Are NFTs And Cryptocurrency The Same?
Clancey Braxton Yohman: No! NFTs are not the same as Cryptocurrency. It is a big misconception if you think that they are. Although they have some similarities, they are different digital assets; they are stored with digital records on a blockchain network.
While Cryptocurrencies have equivalent values and can be exchanged for one another, NFTs cannot. They are unique assets with intrinsic value. Also, while Cryptocurrencies are monetary units and can be used as an alternative to money, NFTs serve as digital ownership of assets.
How Can You Buy NFTs?
Clancey Braxton Yohman: You first need to have a digital wallet, especially one that allows you to store Cryptocurrency and NFTs. Afterward, you need to purchase Cryptocurrency. Platforms like eToro, Coinbase, etc., will enable you to buy Cryptocurrency with your credit cards.
You need to check the Cryptocurrency that the NFT marketplace accepts to know which one you’ll buy. Afterward, the NFT would be sent to your wallet, and it becomes yours till you decide to sell it.
Is NFTs Worth The Hype?
Clancey Braxton Yohman: NFTs are digital assets. Just like physical art, it is the profit that matters. Apart from ownership of social NFTs that make you part of a community, the ability to sell NFTs at a much higher price than you bought them matters.
So, yes! NFTs are worth the investment if you know how to manage them, just like any other investment.