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Are there advantages to holding an NFT?

Holding an NFT gives the owner certain benefits. These advantages vary depending on the NFT owned and the project it comes from. For example, I own 3 Jailed Baby Ape Club NFTs, and by having them, I have access to a chat where only verified holders can participate. I can also play a P2E (play to earn) game, I have access to free personalized clothes, and I automatically have access to parties with all the holders, like the one I was invited to in Los Angeles. NFT creators generally have several giveaways, and NFT holders are automatically entered in those giveaways. The more you hold, the more likely you are to win.

Are there any risks in investing in an NFT?

NFTs are not without risk, however. Unscrupulous developers will sometimes sell their NFTs through their website at a specific price and then invalidate those sales or transactions to buyers who are unable to reclaim the money from their virtual wallets. In a nutshell, buyers have been duped into investing in projects they were interested in or believed in, only to have their investments stolen from them and the developers vanish.

You’ve laid out a potential pitfall, but are there examples of successful projects?

There are plenty of successful projects. A project called Clone X - X Takashi Murakami is an example, with 18.6 thousand NFTs held by 7.8 thousand different people. Their floor price (cheapest possible NFT to buy) is 6.595 Ethereum (€14,196.62 as of 22 January 2022)-- a pretty steep floor price. Judging by this price, this indicates that it is a very successful project. It was predicted to skyrocket in 2040. When the developers announced a collaboration with Nike, it gained popularity, and more people started buying their NFT. Not only is the value of each single NFT very high, but the creators are also able to deliver some unique and never before seen merchandise that only holders are eligible to buy. Adidas and Prada have also partnered to launch their own collection of NFTs and exclusive merchandise that only holders will have access to. Car manufacturers like Lamborghini are planning to create NFT projects. They have released some information on what they are preparing, but they still haven’t clarified what the holder's benefit is going to be. I bet it will likely be a pretty sweet deal for the holder.


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