Top 5 Reasons To Buy An NFT

NFT, stands for non-fungible token, is a digital asset recorded on a blockchain with a unique identification code, which means, they can’t be copied or replaced with something else. NFTs can be anything digital such as drawings, photos, music, in-game items, and more. But one thing that usually comes to mind when we think of NFT, is digital art.

But why spend money on buying NFTs when you can take a screenshot of any digital art from the internet? Or better yet, just simply right-click an image, and save as a JPEG, right?

Well, let’s see it this way, while everybody could have a JPEG copy of Van Gogh’s The Starry Night, there is only one real authentic version of it. When you have a screenshot of a picture online, you don’t own that image. With NFT, you can have digital ownership of that image.

Now, is simply having ownership of a digital asset enough reason for someone to buy NFTs? Let’s explore more about why you should buy an NFT.

1. To Support Artists

While artists are among the bravest human beings to ever take a road less travelled, many are still struggling to make it in this world. With the rise of excitement around digital art NFT in blockchain technology, this could be a game changer for them to have a platform to sell their art.

That being said, the first main reason to buy an NFT is to support these artists. It’s a way of empowering and financially supporting them.

With NFTs, artists get paid for royalty every time their NFT is sold or changes hands. Because of no involvement of middlemen, they will have 100% rights to their art. Which makes it an ideal way for artists to earn income.

By buying an NFT, you’ll not just get the ownership of a beautiful art, you can make the artist’s day, and support their business too!

2. To Collect Art

Everybody can be a collector of NFTs. Collecting art isn’t something new, we could see the same thing happen to physical art. Whether you’d like to own a painting to frame it on your wall, or purely for the feeling of knowing that you own it, NFTs give the same value as physical art. Some might say that this is the future of fine art collecting.

But should you actually buy NFTs? Some people, they’d like to own something just for the sake of owning it. The scarcity aspect makes NFT an appealing asset and there can only be one owner of the NFT. It’s a form of possession, the joy of owning something that is unique. To collect and own something unique and rare may be the reason why you should buy an NFT.

Buying an NFT allows you to have basic usage rights as well, such as being able to post the image online or use it as your profile picture. This basically gives you the bragging rights that you own the art. So hey, bragging rights might be enough reason for you to buy an NFT, no judgement from me on that part!

Now, we’ve talked about supporting artists, collecting arts and bragging rights. But is there another reason why you should buy an NFT? Let’s say, a reason that involves money & profits? Let’s find out more.

3. To Gain Profit

An NFT cannot be replaced or duplicated, therefore it produces scarcity, and as a result, gives value to the art piece. Some might see this as an investment opportunity, because each individual NFT could increase in value, due to their uniqueness. It’s like a rare Pokemon card. Yes, I am comparing NFTs to Pokemon cards. The rarity of a Pokemon card makes it expensive over the years, and the value keeps on increasing as long as there is a demand for it, and how much money someone is willing to pay for it.

So, who knows if your collection of NFTs could bring you lots of money one day. Bear in mind that the value of an NFT can also fluctuate based on popularity and hype. If you buy an NFT with the hope of only gaining profit one day, it's best to just forget about it, because some people buy NFTs not just to gain profit, but to support communities.

4. For The Community

One of the reasons that you might want to buy an NFT is for the community, for a sense of belonging. For some people, buying an NFT isn’t about owning a unique digital asset or to gain profit, but they might say that talking about NFTs in an online community is half the fun. It gives them a sense of identity.

NFT communities are important to bring together like-minded individuals to share common interests, collaborate, give support to each other and even to have fun. To be among these supportive communities, you can start with purchasing an NFT.

5. For The Utilities

Being in an NFT community could come with perks. Many creators have created exclusive offerings accessible only to NFT owners.

So, buying an NFT could benefit you by not just owning a digital asset that is not available to anyone else, but also would give you exclusive access to certain perks, such as entry into an exclusive group, physical goods, an early access to upcoming NFTs, and more.

In the end,

it’s a matter of perspective on whether you should buy an NFT or not. It’s either you’re buying it from the perspective of an art lover, or an investor, it really comes down to your own motives eventually. Let's wrap up the top 5 reasons to buy an NFT:

• You have a passion towards art, and would like to support your favourite artists, or you happen to stumble upon an NFT art that caught your attention that makes you want to buy it, I’d say go for it, what are you waiting for? Go ahead, purchase the NFT and make it yours.
• If you’re already a collector, or just starting out to be a collector, why not buy NFTs that would give you the same amount of joy of collecting a unique and rare physical item?
• For the risk takers, to make money by purchasing NFTs in mind, make sure to do your research beforehand. I’d say, be extra careful when making this kind of investment, but to each their own!
• If you’d like to do it for the community, whether you’re an artist, a buyer, or supporter, all the more reason to join Pentas. And remember, purchasing an NFT could come with perks too!

It’s never too late to purchase your first NFT, take your first step with Pentas, now.

Let us know if you have other reasons to buy an NFT in the comments!