Caleb Hawk ’ s Pudgy Penguin
Pudgy Penguins
Pudgy Penguins are a limited collection of 8,888 unique penguin character NFTs . They ’ re becoming increasingly popular as digital collectibles , and they also afford owners the chance to join and collaborate with an online community
Down to Business
How do NFTs work as collectible investments ? NFTs have the potential to increase in value over time just like traditional collectibles . Factors that impact an NFT ’ s value include rarity and scarcity , popularity and cultural significance . If you own an NFT that grows in value , you have the option to trade or sell it and make a profit . Investing in NFT collectibles is similar to investing in the stock market and real estate ; it ’ s all about predicting popularity and value and then buying in at the right time .
What are the risks associated with investing in NFT collectibles ? NFTs fluctuate in value like any investment . That means anyone who invests in an NFT is at risk of losing some or all of their invested money . You can mitigate risk and make wise investments by looking into an NFT ’ s history , researching who created it and scouting out the online marketplace where it ’ s being sold .
Plus , as is the case with any new investment opportunity , scammers are on the prowl and preying on newcomers to the digital asset market . “ It ’ s a new piece of technology , so be careful . I ’ ve seen people lose lots and lots of money from clicking on a link they shouldn ’ t click on ,” Hawk said . You should only buy NFTs from reputable sellers and online marketplaces that have a good track record . OpenSea , Rarible and Nifty Gateway are among the most popular and trusted .
known as “ The Huddle ” that promotes positivity and productivity .
What else makes NFTs valuable for business professionals ? Hawk explained that buying into the NFT market is a tactical way to expand your professional network . “ You get access to a community of people that all have similar assets , and with that you have these connections . The networking opportunities that come from holding some of these NFTs are very valuable ,” he said . Businesses can also engage with customers and build brand loyalty by creating their own custom NFTs and using them as marketing tools .
What ’ s the future of NFTs ? As more people learn about NFTs and explore their potential uses , there will likely be an increase in the number of NFT marketplaces , the variety of NFTs available and the ways in which NFTs are used . “ It ’ s something that I think is going to be a major part of our future . You ’ re going to start seeing people use NFTs as tickets to events and memberships ,” Hawk said .
THE TAX MAN COMETH
In late March , the IRS announced some possible changes to the way NFTs are taxed . If the agency goes ahead with its plans , NFTs will be taxed as collectibles , meaning those in the highest tax bracket would see their NFTs taxed at the top long-term capital gains rate of 28 percent , instead of the current top rate of 20 percent .
Image courtesy of Puddy Penguins .
“ There are a ton of opportunities to dive in , learn and have fun . There are opportunities out there for sure , but it can be overwhelming , so just be careful .”
- Caleb Hawk , Chief Meme Officer , Pudgy Penguins
Local Brewed Option
0XCOFFEE
Founded by Wade Preston , co-founder of Prevail Coffee , 0xCoffee aims to build a global community through coffee and revolutionize the global coffee supply chain via blockchain technology . 0xCoffee ’ s Just the Drip NFTs each represent twelve retail bags of direct-trade , specialty grade coffee that can be redeemed by the owner at any time . Once all 12 bags of coffee are claimed , the NFT gives the owner 20 percent off coffee on the 0xCoffee website for life .
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