NFT an investment megatrend? EMH - One stock to watch and … a bullish ASX
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NFTs, or non-fungible tokens, will become an integral part of the “tech investment megatrend” of the next decade, says the CEO of independent financial advisory and fintech organisation deVere Group.
NFTs are digital collectibles that are encoded onto a blockchain - the same technology on which cryptocurrencies run - creating a unique digital watermark showing ownership and the digital rights to that collectible.
Green says, in recent months many major global sports franchises, fashion brands and household name artists and musicians have launched NFTS.
In April, auction house Christie’s sold “Everydays” the First 5000 Days,” a digital artwork in JPEG form by an artist known as Beeple, for US$69.3 million – making it the third-most-expensive work ever sold by a living artist.
“The temporary drop in NFT transactions in the last few weeks is not surprising. It’s still a very new market that many investors still do not understand or even know about.
“However, technology will inevitably be the investment megatrend of the decade and, I believe, that we can expect NFTs to become an integral part of this.
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