Simply Investing
Allegra & Victor return this week to explore an element of the "wild-west" of the cryptoverse - non-fungible tokens. NFTs are unique strings of code attached to digital assets and are secured through the blockchain, giving them the property of non-fungibility - each asset is unique and derives a singular value. We start off this episode by explaining what non-fungible tokens essentially are, how you would go about purchasing your first NFT, trading platofrms/marketplaces you can use to exchange NFTs, how NFTs are different to other cryptocurrency assets, and what the risks & benefits are of investing in non-fungible tokens. Whilst they are not new and have been around since 2014, NFTs have exploded in popularity in recent years. The market for NFTs was worth a staggering $41bn in 2021, an amount approaching the total value of the entire global fine art market - so this is definitely a space in the cryptoverse worth understanding! If you can't get enough of Simply Investing, follow us on IG @simplyinvesting_podcast!
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