For some people, their collection of NFTs is practically priceless. Would you ever think that something that simple would be worth so much?
That’s because non-fungible tokens are not just regular digital items, but rather unique collectibles with value attached to them. Each one of these has a different value depending on the user and can even appreciate or depreciate over time.
This means that having an official appraisal done will give you peace of mind by knowing exactly how much your collection is worth based on market prices at any given moment in time. It’ll also cost less than you might be thinking! Most appraisals for intangible assets are around 5% of the total collection value—and can be as low as half as much if done through an online service. After all, who wants to pay more than they have to for an appraisal?
Of course, if you’re interested in having a collection of tokens appraised, we recommend looking through reviews and finding the best agency for you. The reason is that there’s no one-size-fits-all solution: each collection has different qualities and the value of each token can constantly change.
One common type of collection is a single token collection that can be compared to similar token sales and listings. Even with a single token, having an experienced third party providing an assessment is probably a good idea. Most folks wouldn’t sell their house without a realtor providing market comparisons.
And if your collection includes many tokens, then you’ll really want a reputable Agency to determine their total worth by measuring their collective market capitalization (the total amount it could sell for based on current prices).
Another consideration would be a collection that constantly changes in price. Understanding the factors that impact a token and collection’s value and offering guidance on when best to sell brings us back to our original point: having an appraisal done will give you peace of mind knowing exactly how much your collection is worth.
Not sure of the value of your current holdings, or wondering if a particular NFT is worth the sales price? Contact Vast Agency at sales@vastagency.io .