Is it a good time to buy nonfungible tokens? Expert answers

An NFT expert believes this is an excellent opportunity for investors in the space, as the floor prices of the most popular nonfungible token (NFT), collections fell along with the wider crypto market.

Ahren Posthumus (CEO of Momint NFT Marketplace) shared his views on compelling NFT use case examples, its role in climate action, and what NFT investors should be focusing on during this bear market.

Posthumus believes fractionalization of larger assets could be the next big thing in NFTs. The executive cites the stock market as an example and believes that retail investors will be more interested in assets if they can break down expensive assets into smaller, more affordable pieces. He stated that this is how the stock market worked for investing in companies and was wildly successful. This was explained by the executive:

“Perhaps the most useful blockchain application is fractionalized ownership, also known as tokenization. This is something that the public has never had before.

The NFT expert highlighted the fact that NFTs can contribute to climate action as well as positively impact efforts to address environmental issues. NFTs are often associated to artworks. However, the CEO of Momint stressed that they are digital certificates proving authenticity. It is therefore a great medium to earn carbon credits. Posthumus also explained that:

You can also launch NFT projects specifically designed to raise funds in support of environmental initiatives. You can use the NFT hype to raise funds and awareness for environmental causes.

The executive was asked if it was a good time for NFTs to be bought during the ongoing crypto winter. He said “yes”, but advised investors to verify the fundamentals and the value of the assets before they invest.

Finally, the executive stated that in times of recession the best investment option would be to invest in Ethereum (ETH) blockchain infrastructures. Posthumus stated that “some blockchain applications will triumphant, but most will fade into insignificance.”

Similar: Nifty News – Dr DisRespect launches NFT game to mixed reactions, FC Barcelona’s first NFT sale for $700K…

According to Nansen, NFT investors spent $963,227 Ethereum in the first half 2022. This is approximately $2.7 billion in NFT minting. Others blockchains, such as the BNB Chain (BNB), had $107 million worth NFT mints, while Avalanche had $77 million.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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