Why NFTs Are A Safer Investment Than Logan Paul’s Pokémon Cards

This week, an influential figure was revealed Logan Paul, who paid US$3.5 million for a box of what were supposed to be rare Pokemon cards, was scammed when it turned out to be a box of worthless GI Joe cards. The scam sent ripples through the card collecting and investing communities, and shows how collecting NFTs is, once again, a safer way to invest in valuable assets.

Paul revealed he was cheated on in a YouTube video released on January 13, saying that after paying for the box of cards, he flew to Chicago to see her in person. But when he got there, he found it was fake. When he announced that he had bought the cards, he warned online collectors that the box was likely fake and that even seeing the cards for himself would be a red flag that he was being scammed.

After realizing that the cards were fake, Paul listed several red flags in the transaction that should have alerted him to the fact that he had been scammed. Every red flag, such as the authentication process and seller identity, could have been easily verified on the Blockchain had Paul been buying the $3.5 million NFT instead of a box of supposed Pokemon cards.

What makes NFTs different from any other form of asset investment is the ability to instantly authenticate both the product and the identity of the seller, while allowing the seller themselves to remain anonymous if they so desire. When purchasing an NFT, you can check the history of the product and any past transactions directly on the owner’s wallet.

For an NFT like Bored Ape, for example, you can easily check where the seller purchased it from and even track it back to the account that originally minted it. Doing so can save you millions of dollars if your boring monkey is fake. It is very easy to check the validity of the NFT simply by checking the token ID between the number you want to buy and the original set.

Since Bored Ape NFTs were sold from the original mint, you’ll have to get one in OpenSea as well, which makes it even easier. By looking at the verified collection on OpenSea, you can easily find genuine Bored Ape NFTs available for sale.

For NFT sellers, Blockchain also makes it easy to verify that the buyer not only has the money to sell, but that the money is genuine and not counterfeit. Since the wallet information is public, trading platforms such as OpenSea can verify in seconds that the buyer has the money for the readily available asset. Instead of going through the bank, sales are authenticated in real time using Blockchain technology to make the transaction.

While Logan Paul probably knows the risks of buying something that can’t be authenticated online, that doesn’t mean that all investors will. Paul, who owns NFTs himself, has always been a proponent of the value Blockchain and NFT bring to the world of asset investing. NFTs are a safe and easy way to invest in assets, join the community, and build the communities and projects you truly believe in. Although after Logan Paul’s mistake, thanks to him and some celebrities and businessmen like Gary Vee and Mark Cuban, the NFTs have grown exponentially.

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