Expert Entrepreneur Ryan Dean Hoggan On Why NFTs Could Be The Big Investment That Pay Off
With over 20 years in the game of entrepreneurship, digital and affiliate marketing, e-commerce, venture capital, and a player in the entire Blockchain space, Ryan Dean Hoggan, in an interview, talked about why NFTs could be a big investment earner.
Is There A Certainty of Making Profit In The Long Run With NFTs?
I can confidently say that, like all the blockchains family, NFTs come with high uncertainty but one that is exciting. We will see sustained growth in the NFT market, with plug-ins into cryptocurrencies and other blockchain technologies.
We are slowly opening up to newer blockchain technologies, and NFT is looking interesting for big investment payoffs. We are going to see investments in NFTs all over the place.
What Are the Complexities—and Accompanying Uniqueness of NFT?
We all know that data is fast becoming the new thing in terms of storage of value. Data, they say, is money.
This is why I like the description of NFT by Alison Mangiero, the President and Co-Founder of TQ Tezos, as “Unit of data stored on a blockchain which can represent any unique digital item” Interestingly, in this case, NFT data are worth whatever anyone is willing to pay. There is no limitation as to universal price cover.
From my experience in entrepreneurship, especially in real estate, I know that sometimes the activities of intermediaries can be problematic. This is another beauty of NFT.
Transacting through NFT would get more attraction for its peer-to-peer transaction, no stress, and cost of middlemen, brokers, or even banks. Just you and the seller. Recall Kevin O’Leary saying, “Disruptors are what make their investors rich.”
NFT’s Performance in the Market?
NFT articles as arts, collectibles, creative works, and others are mostly noble items that command ostentatious demands. People are willing to pay as much for these items. Securitized NFTs Arts provides a unique connection to the creator that does not come with any other art forms.
So long as the internet stays, blockchain technology stays. With blockchains staying, NFT’s future is looking bright with Nifty Gateway, Duncan, and Griffin Cock Foster Co-Founders of NFT working to expand platforms for trading or art collection for NFTs.
A study from NonFungible and L’Atelier shows that investment in the NFT marketplace tripled in 2020, with the total value of transactions increasing by 299% year-on-year to more than $250 million.
The profit analysis is also looking good, with a summation of up to $500,000 profits a single year. Some traders hit profits over $100,000.
What’s Your Future Forecast On NFT?
While some NFTs are selling at crazily impossible prices, drawing so many criticisms, the truth is that NFT goods’ prices might drop. But for a long time coming, NFTs would stay as a major investment channel.
The increased controversies and hype of NFTs is creating more interest and attention for the cryptocurrency, forcing people to acquire more education on how it works.
Do You Have Any Last Words?
With the virtualization of most human activities since the covid-19 pandemic, buying and selling not left out, we will see many disruptions and developments in a very new and decentralized economic order. Monies and investments would move quicker and more transparently for those who are prepared.