For those who don’t know, NFT stands for “non-fungible token.” These are digital assets that are not interchangeable with traditional cryptocurrencies. Each NFT is unique and can be traded, sold, or auctioned off like any other physical asset. So the big question is: can I invest in NFT with as little as $100?
The answer depends on what you are looking for. If you are simply trying to buy an NFT as an investment, then $100 is probably not going to be. There are many platforms that support NFT purchases, but the prices can be pretty steep.
For example, the popular platform known as CryptoKitties supports NFTs worth around $100, but the average price for a CryptoKitty is closer to $23,000. It’s not too late to get started with NFTs, you need to have a little more money saved up.
However, that doesn’t mean you can’t get involved with NFTs somehow. There are a variety of possibilities to invest with a little amount or without breaking the bank.
Let’s see why one should not invest in NFT with as little as $100 and the possibility to invest in NFTs without spending too much money.
5 Reasons For Not Investing in NFTs with $100
Let’s have a look at the following reasons:
Low Benchmark
The most common reason people choose not to invest in NFTs is that the prices can be very high. The average price at a given marketplace is going to be quite a bit higher than $100. So, if you are looking to invest in an NFT as an investment, you need to have quite a bit more money.
For example, at Rarible, if you invest in an NFT that’s currently priced at $100, you are only going to get 1/10,000th of the NFT.
This low return means that you are not going to make much profit off of your investment, and it’s better to invest in something with a higher benchmark. For this, a few people look for ways to remove NFT from Rarible or their investment portfolio.
NFTs Can be Overinflated
Another reason people choose not to invest in NFTs is because the prices can be overinflated. It is especially true for popular or trending NFTs animation.
When buyers start a bidding war, an NFT can go up significantly. This makes it difficult to find a good investment, as you never know when the price is going to drop.
Difficulty in Finding a Market
Another issue with investing in NFT with as little as $100 is that finding a market for your investment can be challenging. There are a variety of marketplaces that support NFT purchases, but the prices are unpredictable. It means the less you are willing to spend, the fewer options you have for finding a market.
High-Risk Factor
If you invest even $100 in NFTs, you are taking on a high risk. It is because the prices can be very volatile, and there is no guarantee that you’ll be able to sell your NFT for a profit.
It can be true if you invest in an NFT that’s not currently popular. You could hold onto your investment long before someone is willing to pay what you ask.
You May Not be Able to Find a Buyer
Usually, not all, but a few buyers don’t look at cheap NFTs because they think the quality is not good enough. This results in many NFT investors being unable to find buyers, no matter how low the price.
So, even if you are willing to take the risk and invest in NFTs with as little as $100, there’s no guarantee that you’ll be able to find a buyer for your investment. Many people hate NFTs for this reason.
Possibilities to Invest In NFT With as Little As $100
Let’s see the possibilities to invest in NFT with little amount.
NFT Airdrops
For your concern, ‘Can I invest in NFT with as little as $100′, So yes, there are a variety of platforms that offer NFT airdrops. These platforms can distribute NFTs to their users for free or for a small fee. It is a great way to get your hands on an NFT without spending a lot of money.
Create Your Own NFTs
If you are looking to get involved with NFTs without spending a lot of money or even $100 bucks, you can always create your own NFT.
There are a variety of platforms like Opensea, super rare, and Rarible that allow you to create and sell your own NFTs. This is a great way to get involved with the NFT space without breaking the bank.
NFT Faucets
Another possibility is to use NFT faucets. It gives you a small amount of an NFT for free. This is a great way to start with NFTs without investing money.
Even it is better to spend your $100 on something else, like buying an NFT from somebody else or investing in a different crypto asset.
Creativity is key
If you want to get involved with NFTs without breaking the bank, you need to be creative. Creating your own NFTs is a great way to get involved with NFTs without spending a lot of money.
You can always look at the popular or trending NFTs and produce one that is very similar but at a fraction of the cost. It is a great way to get involved with NFTs without spending a lot of money.
Find a niche market
Do you even lift, bro? It’s a popular meme, and there are plenty of people who would love to have an NFT of it. However, it’s not the most popular NFT, and it’s not going to sell for millions of dollars. If you are looking to get involved with NFTs without spending a lot of money, then you need to find a niche market.
There are plenty of NFTs that are popular among a small group of people but aren’t popular among the general public. This way, you get involved with NFTs without breaking the bank.
Wrapping Up!
So your concern is whether you can invest in NFTs with as little as $100 or not. Yes, it is possible to do so, but obviously, after reading this article, you understand that it’s not without its risks.
The best approach is to be creative, find a niche market, or look for NFT airdrops and faucets. These are all great ways to get involved with NFTs without spending a lot of money.
Otherwise, the reasons not to spend your $100 on an NFT are numerous if you are not careful. So be smart and invest wisely!