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Will I be able to sell an NFT immediately?
When buying NFTs on Arkade, it's important to keep in mind that they are illiquid assets, meaning that you need to sell them in order to see returns. One way to assess the demand for an NFT collection is by checking the transaction activity of the collection. The more activity, the higher the likelihood of being able to sell your NFT. Additionally, it's also important to keep an eye on the prices at which the NFTs are being purchased. If the prices are low, it may be difficult to sell your NFT for a significantly higher price, as it may not be perceived as a good value by buyers. Therefore, it's important to be aware of the current market prices and conditions before listing your NFTs for sale.
Additionally, it's also important to consider the uniqueness and rarity of the NFTs you are buying. The less common the NFTs are, the more valuable they tend to be. Furthermore, it's also important to consider the project's long-term plans and what's the utility of the token you are buying, NFTs that have a real-world use case and are part of an ecosystem tend to have a better appreciation potential than just collectibles.
Overall, it's important to do your own research and keep an eye on the transaction activity, market prices, and the uniqueness of the NFTs you are considering buying or selling on Arkade.
Last modified 9mo ago