Crypto newbies often make the mistake of thinking that all NFTs in a collection cost the same. But NFTs are different from fungible tokens like Bitcoin in that regard. Each Bitcoin can be exchanged for and are equal to another, but that’s not the case with NFTs. Each NFT is a unique token, which means there’s only ever one of whichever NFT you’re buying.
Typically, NFTs come in collections — some popular examples are Bored Apes, CryptoPunks, Meebits, and Hashmasks — but each NFT within the collection carries a different value. Each NFT’s price differs depending on its unique qualities or utility. For example, only 4.7% of Bored Apes have red fur, and just 2.5% have a biker vest, according to NFT Stats.
The rarer the traits of a Bored Ape, the higher its price. You want to confirm the rarity of an NFT’s traits before you make a decision — that’s the surest way to improve your chances of getting an NFT with a lot of growth potential. You’ll want to choose the NFT that shares the least amount of common traits with others in the collection.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Gaming News Click Here
