The potential of NFTs is undeniable, but the risks and rewards can be head-spinning. In this week’s Crypto for Advisors newsletter, megdematteo highlights what to look out for when considering an investment in the world of NFTs:
by frustrated collectors who were tired of waiting for the project to deliver on its grandiose promises. But Merchan, surprisingly, isn’t terribly concerned about the state of his Pudgy Penguin NFTs, noting the promise inherent in what the situation demonstrates.
The Pudgy Penguins project stands a chance, Merchan argues, because the process of replacing the leaders was community-driven, public and more or less democratic. When it comes to long-lasting value, investors should think into the future about ways that NFTs can integrate with existing infrastructure, argues Merchan. Through smart contracts and QR codes, NFTs have the potential to unlock greater value in both theConsider the club scene. “People go to the club party, they order bottles, the promoters are there,” Merchan said. “The club is always looking for ways to keep people coming back and excited about their brand.
“I’m really investing in the community, or at least the potential of the community to come out of these NFTs,” Merchan told CoinDesk. “If you look at it from the outside, they’ve been failures – almost all of them. But the energy is actually really strong.”
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