Being digital assets, NFTs could be a piece of art, a JPG image, memes, or GIF to music, videos and video game collectibles. NFTs are traded in cryptos.

NFTs could be risky investments. You should be cautious and careful. Avoid clicking on any link in the name of NFTs. It could be hoax. You have to buy from legitimate market places — OpenSea, Nifty Gateway, Rarible and Foundation. You have to enlist the NFTs on legitimate market places.

You have to buy from verified sellers. Most of them have a blue tick against their name.

Please do not share the key to the private wallet of yours. Always have strong passwords for crypto wallets and NFT accounts. Have a burner wallet that limits the funds to be assigned to a single wallet. This reduces the risk.

An app that claims to be an NFT market place must not be downloaded without deliberation. You have to double-check.

Some common NFT frauds are — NFTs being counterfeit where a duplicate is passed off as original, phishing to get access to private data and siphon off your digital assets, wash trading to a seller who also becomes a buyer to inflate the price of an asset and rug pull in which social media puts the asset on a high pedestal and later pulls out the support to crash the price of the asset.