James Brockhurst quoted in Citywealth on non-fungible tokens
Private Client Senior Associate, James Brockhurst’s comments have been featured in a Citywealth article entitled ‘NFT Mania: innovation frontier’.
The article examines the recent rise in popularity of the non-fungible token (NFT) art market that has become a powerhouse industry overnight. It considers what investors should know before adding NFTs to their art collection.
James comments: “Potential buyers should research the credentials of the provider, especially if taking part in a token pre-sale. They should also research the supply cap. For example, if an artist sells 20 NFTs as part of a collection, the tokens may attain collectible status. If however the artist floods the market with hundreds of new NFT works, the investment will lose value. Investors should also make efforts to negotiate prices directly with the seller, rather than purchasing at the listed price.”