Since their launch, NFTs (Non-fungible tokens) have proven their capabilities as exceptional tools for tokenizing real-world and digital assets with a better guarantee of value.

Essentially NFT is referred to as a form of token/a unit of data on a digital ledger, called a blockchain. Blockchain provides certification of the uniqueness and non-transferability of the digital asset involved. Therefore, NFT has the value of originality, uniqueness, and unreplicable, leading to higher valuation. Therefore, NFT storage is also important to consider. Why should you care about NFT and NFT storage tools? Let's find the answer with BHO Network in the article below.

Potential of the NFT market

Today, NFT is growing very fast and has the potential to revolutionize the traditional marketplace for artists or collectors.

According to a report by Grand View Research, the global NFT (Non-fungible Token) market size is currently valued at $15.54 billion in 2021, and has a compound annual growth rate (CAGR) of 33.9% in the period 2022-2030.

However, the development of NFT is not a natural one, but also a process with both success and failure. Besides, thanks to the completion of the blockchain platform, the features of NFT are increasingly developing, creating rapid growth.

Looking at the actual revenue that the NFT market brings, we can see the great potential of NFT. Some real examples of revenue from NFT are: An NFT "tweet" of Twitter CEO Jack Dorsey sold for $ 2.9 million, NFT CryptoPunk Avatar sold for more than $ 11.7 million, or the record profit of 100,000% within 3 days of the NFT painting "Trump".

In addition, the future development trend of NFT also extends to other fields, namely real estate, entertainment, and media. The NFT game market is also considered by many experts to have continuous strong growth. The practical application and development speed of NFT games attract great attention from investors as well as game developers. This is the category chosen by many investors when initially approaching the NFT market.

In general, NFT is still a market with strong development trends, a "fertile and potential" land for those who are knowledgeable and know how to invest. Many financial experts around the world believe that NFT will become the latest money-making trend of crypto investors. As the blockchain platform becomes mature and mainstream, the NFT craze will continue to explode in the future.

Learn about NFT storage wallets

With the potential and strong development trend of NFT, as an investor, you definitely cannot ignore this fertile market. However, to start participating in the NFT market, just like storing coins / tokens, you need to own an NFT storage wallet. This is a must-have tool to start trading and buying/selling NFT. First, BHO Network will introduce you to the functions and characteristics of the NFT storage wallet.

• A NFT Storage Wallet is a digital wallet that stores your NFTs and cryptocurrencies in one place. This wallet helps you get more assets besides buying and selling your coin/token.

• The recent dramatic increase in NFT purchases has also led to the development of functions in crypto wallets that can store art NFTs once minted or purchased.

• NFT wallets don't actually contain a specific digital version of assets, but similar to coins/tokens, the wallet only stores information regarding your NFTs’ location on the blockchain.

To find a good and secure NFT wallet, you have to figure out what are the best and necessary features for your NFT storage. BHO Network have listed some necessary feature recommendations for specific NFT wallets as follows:

User-friendly

The most important feature you should look for in the best NFT wallet is the user-friendly interface. NFT is a complicated concept for a beginner, so you won't need a complicated UI in your NFT wallet to make matters more difficult. Therefore, you must look for NFT wallets that are easy to set up and check out your collection easily.

Cross-chain compatibility

The next important aspect to look for in a top NFT wallet is blockchain network compatibility. Ethereum's popularity coupled with its large number of developers makes it the preferred platform for NFT users. As a result, you can find the majority of NFT-enabled wallets based on the ERC-721 standard.

Also, you should keep in mind that if you have to mint, buy or sell NFTs on other blockchain networks, you need a cross-chain compatible wallet.

About 3S Wallet

3S Wallet is a product in the ecosystem of BHO Network, and has all the necessary features of an NFT wallet to help you store NFTs safely and quickly. Currently, 3S Wallet’s latest version allows sending, receiving and storing NFTs. You can download and experience 3S Wallet here.

Some features of 3S Wallet

• 3S Wallet - A multi-chain-enabled non-custodial cryptocurrency wallet that provides secure and convenient storage and management of crypto assets according to Web3 standards. You can store more than 3000 different coins/tokens.

• Allows trading, storing and managing coins/tokens and NFT assets on many blockchain networks such as Ethereum, Binance Smart Chain, Polygon, Fantom, Avalanche, Optimistic, Arbitrum, Cronos, Solana, BHO Chain, etc.

• 3S Wallet is oriented to be a simple, secure and safe Defi wallet product. With a one-touch interface, 3S Wallet's simple gestures make it easy for new users to approach.

Summary

The year 2022 presents us with tremendous financial prospects regarding NFT. Gradually, more people became interested in NFT. Accordingly, the demand for the best NFT wallets will also increase as more users seek access to NFT domains or NFT collections of artists, creators, etc. However, it's important to note that you're in the early days of NFT collecting and trading. It is important and necessary for you to learn and choose a safe NFT storage wallet. And BHO Network's 3S Wallet will be a good choice for you to store your favorite coins/tokens, as well as your favorite NFTs.

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