NFTs have become a familiar sight in the crypto market, with even high-profile figures like former President Trump launching their own collections ^[1]. This growing popularity extends beyond individual creators. Recently, I came across an interesting development on Cointelegraph, a leading independent news source in the blockchain and cryptocurrency space. Even this prominent crypto media platform has unveiled its own NFT collection. I want to be clear that this isn't promotional content or financial advice. I'm simply sharing my fascination with the innovative ways NFTs are being used in the crypto market.

For example: the article "Bitcoin whales not selling despite $70K — BTC holdings growth is going parabolic" ^[2] mentions NFTs being minted, with costs between 173 USD and 208 USD ^[3]. For me, that's a significant amount. Instead, I could buy roughly 140-170 MATIC tokens, potentially a better investment during this apparent uptrend.  This minting cost likely covers transaction fees on the Polygon blockchain and benefits Cointelegraph.


Trying to find out more, it turns out that Cointelegraph launched a groundbreaking NFT collection in mid-2022, allowing users to own a piece of cryptocurrency history. This "Historical NFT Collection" offers a unique way to commemorate pivotal moments in the industry. By minting an article as an NFT, we transform from reader into owner of crypto history ^[4].


Interestingly, the Cointelegraph Historical Collection has appeared on the Rarible NFT marketplace ^[5], with one even reaching a staggering asking price of 38K WETH, roughly equivalent to 152M USD ^[6]. This outlier price likely reflects enthusiasm rather than a realistic market value. Most NFTs in the collection are priced much lower, around 20 USDC, which is even less than the cost of minting itself. This suggests that current owners are either strong Cointelegraph supporters or believe in the long-term potential of these NFTs as historical crypto artifacts.


As an investor, I prioritize economic fundamentals. While I see potential in NFTs, particularly for raising awareness among Cointelegraph's audience, I'm unsure about their current valuation. Therefore, for my investment strategy, I'm considering MATIC tokens instead of minting Cointelegraph NFTs. Alternatively, I might invest in FLOW tokens, the native token of the NFT-focused Flow blockchain, based on my belief in a potential NFT market resurgence this year. It's important to remember that this is not financial advice for either MATIC or FLOW tokens.

I want to know your opinion about Cointelegraph NFT:

• Do you support Cointelegraph issuing its own NFTs?
• What do you think about the NFT minting fee of 173 - 208 USD? Would you mint an NFT or buy MATIC?
• Will the NFT trend come back soon in the uptrend of 2024-2025?

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References:
[1] Trump’s Digital Trading Cards Sell Out Again For $4.6 Million—But It’s Unclear How Much He Made
[2] Bitcoin whales not selling despite $70K — BTC holdings growth ‘is going parabolic’
[3] Cointelegraph article #125884 in Latest News 9 March, 2024
[4] Turn Cointelegraph articles into NFTs — Early access for 500 readers
[5] Rarible: Cointelegraph Historical Collection
[6] Cointegraph article #105593 from Thu Mar 30 2023

Yes I agree with you I think there is no harm in buying NFTS nowadays. NFTs have always been a good option for profits as you know these are bought and sold by a large amount of digital community. In my opinion it is safer to invest in NFTs than investing into the coins as the safety factor is a little more in it.

Now NFTs profit completely depends upon the project and who has launched the project.Cointelegraph are doing well in promoting their projects like there are organising an event in Hong Kong in may if I'm not wrong so this seems interesting as the project owners are thriving enough to get it counted as a big one

Like meme coins NFT are also assets in cryptocurrency world that doesn't have any real world usage. Although the craze and hype for both has not faded away in the current bull market. Still my believe is to always invest in cryptocurrencies that are changing the future of the world and creating a long lasting name for themselves.

A company and influencers backing a NFT project don't matter. As we have seen in the last season many top NFT projects that were backed by top VCs and influential figures failed, and people lost a lot of money. NFTs without any purpose or any way to generate utilities have no value. People don't want to invest in any NFT only because it has a anime jpeg on it. There is lots of upside potential for NFT in the industry and the way it is being used right now is not the right approach.