Do not FOMO into buying an NFT.
You're not falling behind. These are early days into this revolutionary technology and we're never gonna run out of JPGs to sell. NFTs are not a fad - they are here to stay.
With that settled, consider these 5 things before buying your first NFT:
1.) You need to spend $0 to witness this new approach to art:
Every NFT can be seen online for free.
You can view NFTs on galleries like oncyber.io , or exchanges like OpenSea. View the different projects being launched, observe, and appreciate the new artists coming up. Sit back and enjoy.
"But I'm looking to invest money into NFTs!" Well my friend, don't.
2.) Buy NFTs out of your entertainment budget:
NFTs are not an investment vehicle.
99% of NFT projects today are going to be non-existent in 5-10 years. When you buy an NFT, immediately mark it to zero on your balance sheet.
3.) Begin with a test-NFT:
See how it feels.
Do you like holding digital art? Do you feel like showing it off to your friends? If not, don't buy any more. If it does, buy your first non-test NFT:
4.) Buy 'at-the-floor':
Buying the lowest-priced NFT in a collection will provide you liquidity.
Search for collections with <0.03 ETH floor. See if you like their roadmap, community (Twitter & Discord), team, etc. Do you enjoy being a part of them?
5.) Buy art that you like:
There are way too many NFTs in the world to buy something you don't like.
You're gonna mark it to zero, remember? Might as well purchase something that you enjoy holding.