NFT Coins Spring To Life As This High Risk Crypto Sector Faces Five Key Hurdles In 2023

NFT Coins Spring To Life As This High Risk Crypto Sector Faces Five Key Hurdles In 2023

Share to Linkedin A billboard that reads, "I hate NFTs!" is seen behind people sitting on the red steps in Times ... [+] Square during the 4th annual NFT. NYC conference on June 20, 2022 in Manhattan. (Photo by Noam Galai/Getty Images) Non-fungible tokens (NFTs) are clawing back to life after an awful year, with Enjin coin up over 70% this month, and NFT marketplace Rarible (RARI) and the Flow FLOW2 blockchain known for NFT developers are both beating bitcoin. They have a long way to go to recover from last year's 80%+ wreckage. NFTs January pep is no sign of a turnaround. The idea is that NFTs were collectible art. Great, you own a ten-second soundbyte of Tom Brady and paid $100, 000 for something that will be lost on your laptop or stuck on a pen drive in your desk drawer in the home office. Meanwhile, retail investors just bought in, hoping gamers would spend crazy money buying fake swords and cute characters for some Axie Infinity playtime. "It's possible to make money by buying and selling NFTs, but they should not be treated as an investment tool," says Sagi Maman, CEO at Xternity in Tel Aviv, a