Art and/or Utility = How to Choose an NFT?

nft art and utility

Are you an NFT collector or investor? Do you look at NFT as a collectible artwork and/or as an investment like stocks? Whether you are new to the NFT space or an expert enthusiast, I hope to answer some of this questions and also add some NFT knowledge on this post.

Art

Everybody has an artistic taste and it is different for everybody. This aesthetics can be seen and feel when you first see an NFT art. The NFT space has all kind of artwork for your choosing, the most popular is probably the computer-generated art and photography that we widely see in the PFP (profile picture ) on many social media accounts.

According to this article, art is not the sole type of NFT we can admire and consume, we can also add music, video game items, trading cards/collectible items, big sports moments, memes, domain names, virtual fashion and other miscellaneous online items on the list.

What is appealing to one may be not so appealing to others. the range of artwork in NFT space are thousands. Animals, aliens, zombies, nature, land, planets, space… you name it they probably have it. Many creators are even making a derivative of this original and succesful NFT projects.

I am not going to say to choose an artwork that looks pleasing to you because you may have other reasons for your choice. Yes, it looks good on your digital wallet, on your Twitter or Discord, or on your mobile or watch, but one should be aware that an NFT also has a monetary value to it. A pleasant-looking NFT to you may not have a higher price value than a unique and not-so-pleasant-looking NFT from others.

NFT art grows its value in many ways. There’s the hype (could be short-lived), the announcements, the long term potential and many more, so sometimes it may be a good idea to keep an open mind and think of your NFT as an investment.

Utility

Some NFTs have an artwork that is so special and original that the art alone can carry the value of the project to its success. These projects are very rare though, and for majority of the project they need to come up with extra perks to incentivize collectors to invest with them.

As an investor, one credible way to measure a project’s potential, i think, is to also look and examine the utility of the NFT on its roadmap.

Many projects already have a prepared roadmap before the official launch, while others craft theirs before minting. As a collector, it is important to note how these NFTs can be useful and beneficial to you too.

Do you like the gaming part of the project? Do you want to stake your NFT for extra tokens? Do you want your NFT to breed? Do you want a free NFT airdrop in the future? Remember to go through all these added benefits of holding an NFT so you can decide what is the best bang for your buck.

Every roadmap follows a timeline when they can execute this developments. Periodically check if they are hitting their milestones so you know the project is moving along as expected.

Conclusion

Art + Utility + Execution is the ideal recipe that you would want on any NFT project. Art is just one piece of the puzzle; you may or may not go by what you like visually but do pay attention to the utility attached to the NFT art. Choosing an NFT should be guided by the idea that it will be an art and project that you support, a utility that is beneficial to you and be treated as an investment that will hopefully return a profit to your pocket.

Thanks for reading.

Jay

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