Join our community of smart investors

NFTs: Should I invest in digital sports cards and virtual real estate?

What economic crisis? The 'unreal economy' is thriving
NFTs: Should I invest in digital sports cards and virtual real estate?
  • Sales of digital assets known as non-fungible tokens have soared 2,500 per cent this year
  • Investors are making thousands trading these crypto products, which proponents say could soon form an integral part of the real economy

£57,000 for a virtual flower. £71,000 for a digital basketball card. £1m for real estate in a video game. It's not just bitcoin. People are investing thousands in a whole range of digital assets with even more dubious value.

From tweets to digital artworks, exclusive ownership of online content is now being sold through the same blockchain technology that underpins cryptocurrencies. Collectively referred to within crypto communities as non-fungible tokens, these pixelated assets are drawing record demand just as the price of bitcoin soars to new highs. The most successful NFT traders are apparently making profits of almost $500,000 (£355,293) in a single year, with some individual portfolios now worth in excess of $1m.

To continue reading...
OR
Register for free
Read 3 articles for free each month
Have an account? Sign in