Written in Partnership with Amir Bakian
NFTs, or non-fungible tokens, are digital assets that are unique and irreplaceable. Unlike fiat currency or other cryptocurrencies, NFTs cannot be replaced if lost or stolen. This makes them appealing to collectors and investors looking for a way to invest in digital art and other rare items.
For tropoFarmer, an NFT enthusiast, the scarcity and desirability of NFTs are the two things that drew him into amassing a collection of his own. “I like investing in something that can’t be replaced,” tropoFarmer said. “It’s a way to support the artists that I like, and it’s also a way to get my foot in the door of a new and exciting market.”
The story of tropoFarmer’s NFT journey may not be all that different from plenty of other investors. His interest in cryptocurrencies and blockchain technology started during the 2017 bull run. He worked with an initial capital of $2,000, with high hopes of earning enough to quit his day job as a software developer. But, like many others, he lost nearly everything. Despite his losses, tropoFarmer didn’t dwell on it and decided to gather himself for what was about to come in the crypto space.
“I was pretty disheartened after my brief stint as a crypto trader,” tropoFarmer said. “However, I knew that the technology was sound, and I didn’t want to give up my investment. So, I started looking for other ways to get involved.”
It was during his search that he discovered NFTs. He was initially skeptical, but after doing some research, he realized the potential of the new asset class. “I thought that NFTs was an exciting concept. I liked investing in something that was scarce and had the potential to go up in value. I also liked the fact that there was a community of people who were interested in the same thing.”
TropoFarmer started buying NFTs in February of 2021. His first purchase was a digital Street Fighter art piece for $500, which had a burn mechanic that captured his interest. “I was pretty hooked after that. After that, I started buying more and more NFTs, and I even started selling some of my collection to other people.”
TropoFarmer has continued to invest in NFTs, amassing a small but growing collection. He’s even started experimenting with creating his own NFTs. Working with Beanie and other well-known figures in the NFT space, tropoFarmer introduced Bloot, a text-based NFT that uses a free-to-mint model.
“I’m bullish on the future of NFTs,” tropoFarmer said. “I think that they have the potential to change the way we think about art and investing. I’m excited to see where the market goes from here.”
As the interest in NFTs continues to grow, we’ll likely see more people like tropoFarmer who are drawn to the unique properties of these digital assets. With the right investment strategy, NFTs could provide a way to earn a profit while supporting the artists and creators that you’re passionate about. TropoFarmer’s story is just one example of how NFTs are changing the landscape of investing and art collecting.
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