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Everydays——The First 5000 Days

This work will be the first purely digital non-fungible token (NonFungible Token) artwork sold in this way. In less than 15 minutes after the official auction started, the bid for this work has reached 1 million US dollars.

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"CROSSROAD" video screenshot

Nearly everyone in the cryptocurrency community has been talking about NFTs recently, and the reason behind this is that NFTs represent the future of digital content. NFT is an on-chain programmable, tradable, permissionless and DIY "digital Lego" for the digital age. These "digital LEGOs" represent a game-changer for creators of all stripes.

For new things in this digital age, it is one thing to stay at the discussion level, but it is another to try to add NFT to the portfolio. Look at the likes of Mark Cuban (owner of the NBA team Dallas Mavericks) and Chamath Palihapitiya ( The CEO of social capital company, a billionaire investor who previously led American retail investors to beat Wall Street institutions) bears the brunt of participating in the NFT economy. How should you participate in this once-in-a-lifetime event?

This post will show you how to build an NFT portfolio in a variety of ways, including buying NFTs directly, buying NFT platform tokens, or buying NFT index fund tokens. Of course, we still need to do our own research, this guide just provides some ideas on how to get started.

There are many ways to get your exposure to NFTs, and you can choose the one that suits you to grow your portfolio.

The easiest way is to buy NFT assets within your psychological price range from projects and creators that you think are worthy of attention. You can manage these NFT assets in the same way as ERC20 tokens, such as through hardware wallets or similar MetaMask Such a browser wallet.

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Source: opensea.io

In addition, there are some specialized NFT marketplaces, such as SuperRare and Nifty Gateway, which specifically target NFT encrypted artwork. You can buy NFT artworks through these two platforms, but before that, you need to prepare some ETH to buy or bid for these NFTs.

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Source: superare.co

Once you have your cryptocurrency and wallet ready, you can go shopping. Head to the marketplace of your choice and connect your wallet, then you can start collecting those NFT assets.

Make a budget, and then look for NFTs within your psychological price range. Some NFT assets that attract your attention may be extremely expensive, and it is difficult to judge whether it is right or wrong to allocate these NFT assets. What you need to pay attention to is that NFT is liquid Investing in these assets is not a guarantee that you will make a profit.

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Ethereum ERC20 tokens can represent anything through asset tokenization, so we will see many ERC20 tokens around the NFT ecosystem.

For example, governance tokens like Rarible's RARI or Axie Infinity's AXS. These are all NFT-focused projects and as such are likely to benefit from the NFT boom.

These tokens allow holders to govern these projects from the bottom up and co-own them as a community rather than a corporation.

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Source: axie.substack.com

Next are some functional tokens, such as MEME of the Meme protocol, and SAND tokens of the Sandbox game platform. By utility tokens, we mean that these assets provide some advantage or utility to the holder, and some functionality cannot be accessed without holding them.

For example, the Meme protocol is an NFT liquidity mining project that requires users to pledge MEME tokens to get NFT airdrops, while SAND tokens are the native token used to pay for Sandbox games.

These assets capture the growing demand for these NFT projects, so they are an alternative investment avenue.

The final category of NFT-centric ERC20 tokens are fractional ownership tokens, such as NIFTEX’s sharded NFT, or Metapurse’s B20 token.

NIFTEX is a platform that allows users to convert their NFTs into easily tradable and liquid ERC20 tokens, so when it comes to splitting the ownership of NFTs, NIFTEX is a good avenue, it currently has about 20 NFT shards The market is available.

A similar idea is adopted by Metapurse’s B20 token, which has split ownership of The Beeple 20 series of artwork. With works by Beeple headed to auction at Christie's, this could be a unique way to acquire his artwork.

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More and more NFT holders are interested in mortgage their NFT on NFT mortgage lending platforms like NFTfi to lend cryptocurrency.

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Source: nftfi.com

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We are already starting to see the rise of NFT index funds that track NFT assets.

One of the pioneers here is NFTX, which focuses on building index funds to track the price of specific NFT categories, such as Zombie CryptoPunks or Origin Axies.

In other words, if you want easy and smooth access to Zombie CryptoPunks in your portfolio, you can buy a fraction of the PUNK-ZOMBIE tokens, similarly, you want to participate in Origin Axies, ORIGIN-AXIE tokens is also like this.

These NFTX index funds are currently highly liquid on Sushiswap, and the index funds available for trading include:

Summarize

The NFT economy is heating up at an unprecedented rate, and people are realizing the potential of these assets. Therefore, any savvy crypto investor should consider how to participate in the current boom.

There are many ways to participate in the NFT economy. You can invest directly in NFTs, buy NFT-centric ERC20 tokens or NFT index funds, and even lend cryptocurrencies to borrowers who want to use NFTs as collateral.

Of course, all methods here are risky! So be careful when investing in new assets and approach your NFT strategy with a lot of due diligence and consideration of risk.

As long as you spend more thought on your NFT collection, you will have more and better opportunities to create a strong NFT portfolio!