Digital artist Kat Mozgin about investing in NFT Sector
What are the factors that create value for NFTs?
Every NFT creates a different value. if it’s a ticket, pass, art, collectible, PFT etc … the factors that create the value to a holder is different from every NFT project.
Community, people behind the project and technologies!
What to consider when investing in them?
Most important is the team behind the project, then the community, followed by everything else. The team is the most important. It’s like investing in a small startup! Roadmap…
What are the risks?
Risks are binary! It’s either boom or bust. Because you can’t fractionalize NFT’s yet … you either win or lose on the investment.
Any project can be a scam. There are cases of hacking Discord channels / Twitter and replacing the crypto wallet with the address of scammers. That is why we register a legal entity ( Dao LLC ) to Dao
The potential for fraud?
Like with anything new, potential of fraud is big but more often than not … you have to click on something or give someone access to your wallet … so it’s all in controlling negligence and not clicking on wrong links.
A huge number of people simply gather an audience and, without the finished product, promise favorable conditions for investing, an increase in prices for an NFT collection, the values of the project itself. They deceive in the exclusivity of the collection of each NFT! Having collected the amount, they simply close the project. For our project we connect media companies and backup everything legally, so that a person trusts us not only by word of mouth!
Also, how do you pay taxes on the gains?
I choose not to answer that question as I’m not an accountant, but can tell for sure that whether you trade it or sell it and cash it out you have to calculate your realized gains and pay your taxes accordingly!
About the project Welfaro (part of Dubai Expo 2020 program)
Created by Kat Mozgin (photographer, digital/media artist, who graduated from Manhattan’s art and technology school; 2019-2022 STEP IT Academy)
‘We want to grab the world’s attention to the problem of waste sorting and recycling’
Holders of NFT tokens from our collection get a unique possibility to become co-ventures of a
waste processing factory.
Every person, who purchased our NFT art will get not only a share in the project, but also
receive profits from investments.
For more information:
twitter @KaterynaMozgin
