NFT stands for a non-fungible token, and every token is unique—that’s what non-fungible is (money is interchangeable or fungible).

Real-world digital art, music, videogames, or app purchases become NFTs with blockchain technology, and when NFTs get sold, the buyer’s data is embedded in the token to prove ownership.

As NFTs got more popular and transactions sped up, some owners managed NFTs as they’d always done with cryptocurrency. For example, they used mobile apps for web-based cryptocurrency exchanges like Coinbase Global, Inc., Binance, or FTX.

While managing NFTs on a smartphone is easy, it’s also more convenient for scammers to hack into these sites and steal NFTs.

There are definite opportunities to create wealth through NFT investing, and it’s more accessible and more secure, thanks to the benefits of tokens and blockchain technology.

Be careful when adding NFTs to your investment

portfolio and limit any single-asset risks that could derail your wealth-building.