Non-Fungible Tokens, or NFTs, have been making waves in the world of cryptocurrencies.
You’ve probably heard of people becoming overnight millionaires from the sale of NFTs, or you might even have some friends who flip NFTs with crazy returns (I’m talking five to twenty times profit).
On the flip side, you’ve also heard of numerous NFT hacks/scams, one of which saw a hacker stealing US$625 million from the largest NFT game, Axie Infinity.
Are NFTs the angel or the devil to your personal finances?
Source: Giphy
If you’re wondering whether you should even touch NFTs, much less “invest” in them…
Here are the arguments for and against owning an NFT.
TL;DR: Should you “invest” in NFTs?
There are plenty of reasons to own an NFT. However, investing in an NFT at present is still considered speculative.
For the average investor, only put in money that you can afford to lose or avoid it completely....