Money Mind tells you how to make the most of your money with tips for investors, business ideas for businessmen and analysis of the economy, companies, markets, financial products and trends. In this segment of Money Mind, Pamela On tells us more about the current NFT trends.

A non-fungible token (NFT) is a unit of data stored on a blockchain (a digital ledger) which can represent a unique digital item like art. An NFT is a cryptographic token, but unlike cryptocurrencies such as bitcoin and many network or utility tokens, NFTs are not mutually interchangeable, i.e. not fungible. (Wikipedia).

The following experts shared their take on NFT.

1) Journey Li, APAC Marketing Manager, Elliptic
2) Anndy Lian, Advisory Board Member, Hyundai DAC
3) Kelvin Goh, Head of Wealth Advisory, OCBC
4) Cao Yin, NFT Collector

"NFTs are not just for purely for collectables, right now at this current moment especially, I see a lot of these big purchases and big valuation. This is actually part of a process to let people know what NFT is." – Anndy Lian

While Anndy sees this as an awareness process right now, Cao Yin explains his point of view as a collector.

"The original reason for collecting these items (NFTs) is to collect, and not to transact, and not to "buy low, sell high" and profit from it."- Cao Yin

CNA is an English-language news channel based in Singapore. It broadcasts free-to-air domestically and as a subscription network to 29 territories across Asia and Australia.

This is a view capture on Channel News Asia (CNA) Live. For better quality and full segment of Money Mind on 3 April 2021, 10.30pm Singapore Time, please visit www.channelnewsasia.com

READ  Bitcoin SMASHES $20,000 as Bitcoin Whale Emerges with $1 Billion in Bitcoin & Ethereum! Crypto News