What you need to know about NFTs and the blockchain
Move over cryptocurrencies. There’s a new kid on the block(chain) – non-fungible tokens (NFTs). And if you’re an investor, you need to know about them. Because there is real money being spent, and fortunes being made.
For some people, cryptocurrencies represent all that is wrong with unbridled capitalism, ultra-low interest rates, investor behaviour and even millennials. For many investors, if not most, ‘cryptos’ represent a parallel universe.
NFTs have become one of the hottest topics in the cryptosphere. And yet, despite a rapidly growing adoption, NFTs are an enigma to almost everyone outside the blockchain omniverse.
Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
Wil Chan
:
Amazing article. Great to see such a topic on your website. Real money is being spent and fortunes are being made – this is so true
Ricky Leong
:
Back in 2000, I remember laughing about how some kid sold his air guitar on eBay for $15.
Now people are spending hundreds of millions on air collectables. Call me a Luddite, but I don’t think NFTs will gain mainstream appeal anytime soon. And so we may be about to see another bubble pop.
Chris
:
The real question Roger, is “who controls the exchange platform ?” (e.g. as the ASX is to shares), because if you can find that, then you can find who “clips the ticket” and thus, makes money.