How To Buy NFTs
Everything you need to know about NFTs
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What is an NFT? Are NFTs good investments? Or are they pure hype? Today you’ll learn how to make some money from NFTs or at the very least understand what they are. Why is everyone talking about crypto NFTs?
A video of LeBron dunking just recently sold for over $200,000. The artist, Grimes sold roughly 6 million dollars worth of NFTs in about 1 day. The Nyan Cat meme sold as an NFT for $590,000 and Jack Dorsey (CEO of Twitter) is selling his first tweet ever. The highest bid currently stands at $2.5 million. What’s interesting is that none of these NFTs have anything physical behind it, no physical assets, no cash flow – just digital rights. So is this a pure hype bubble? First you have to understand what NFTs are.
1. What is an NFT? An NFT is a non fungible token, but what does that mean? In technical terms, NFTs are based on blockchains like Ethereum, Cardano, Polkadot etc, where people stake money into smart contracts and issue their own customized tokens to which they attach digital art. People can buy, sell, trade, and exchange back to USD whenever they want.
2. Why do they have value? NFTs have value for the same reason any other piece of art has value. It’s rare and people want it. Aren’t NFTs digital so why are they rare? Can’t creators just make more of them? No, the creators cannot mint more of the same token because it’s on the blockchain. Same with Bitcoin which has 21 million maximum coins that will ever exist. Once the contract and the rules have been written and the NFT is launched, the creator cannot step in and just create more. Technically the creator could make more editions of that token but it would have variations in the ticker symbol or launch date which is provable by the blockchain which would obviously not be the same as the original even if the art work is 100% identical.
Another reason they have value is because creators attach physical assets or invitations to experiences and collaborations with the token owners. This is a big part of NFTs that really help them shine over their physical counterparts.
Which ones are worth buying? Here are my 3 criteria to look at.
1. Notorious. The creator, brand or genre of the NFT should be someone or something that’s “notorious” or famous. The bigger the more safe your investment will be. Global brands always have fans that support their favorite creators.
2. First. That means this NFT is the first from that specific creator, or it’s the first of its kind in the industry. People always want a piece of history and first mover advantage is everything in life, so if you can buy into something that is first, chances are it will be valued by fans of that artist, brand, or genre.
3. Tangible. The NFT should ideally have something more than a digital element attached to it, like an experience, or a physical asset behind it. Similar to Logan Paul’s NFT where you had a chance to meet him.
4. Scarce. This is a bonus but obviously the more rare something is, the more valuable it will be.
Disclaimer: This criteria is totally made up and fictional but it’s a way to easily remember the best NFTs are one that have the NFT factor. Notorious. First. Tangible.
Which NFTs are the best?
1. Pay specific attention to sports NFTs, they are going to be huge. NFTs will allow players to negotiate the rights over the footage of themselves playing. That’s a new way of monetizing sports entirely.
2. The EDM music industry. Artists like Steve Aoki, Blau, etc. The EDM scene is unbelievably big, and the artists are able to generate hype like nothing I’ve seen before, and the fans are extremely loyal. This scene is set for huge growth.
Are we in a bubble? Short term, who knows? Long term, we are just getting started. You can buy NFTs at niftygateway.com (not sponsored) which is where I got my NFTs from Steve Aoki’s drop.
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Sir please check I am new no one is buying my nft please reply
Realising now that stock, bonds and share's remains currently the most lucrative business in the world, both NFT, real estate and Crypto shares are really positively changing people's lives tremendously after been properly guided in risk margin rounding the financial market
Hana and her team really knows their way around trading which provide guarantee daily profit. it’s evident from her deep knowledge of how the market works to succeed without any lost, reading signals to perfection. It's very secured and safe trading with her when it comes to crypto coins/Nft's stock. Simply reach her with the details above.
🌈 Thank you for the great video. I am a travel guide. I'm presenting NFT picture tickets to travelers to commemorate the trip. It was not easy to explain and understand the concept of NFT to them, but thanks to your kind video, it has become much easier. thank you. 🐭👈
Buy BIRDS ARE NOT REAL NFT!!!!!
Guys BIRDS ARE NOT REAL!!!!
Gret video! Very objective and easy to understand for any beginner. Thanks.
And guys, keep an eye out for the Big Society NFT collection. Great upside potential and it's still at the beginning.
That watch you are wearing is very nice 🧐
Really love the quality of your videos. Where do you get your pop up graphic information slides from?
Everyone is talking about NFT’s. I actually have NFT’s long time ago. Do you want to know what it is???
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It’s Non Fundable Tuition😂😂😂
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The market is down, I thought I share a laugh to make your spirit up😉😉😉
To much speaking show us
Not once did this guy show us how to buy it he just told us what it was
AND I GO DEEEEEEP 😂😅😂 I'm dying ANDREI 😍😂
Did you just show a yugioh card and turn it around and show a charzard ?!?!
i didnt learn how to buy an nft
Is anyone else bugging out about the Charizard Yu-Gi-Oh card that he just showed… Lol no… Just me? Ok!
Idc what anybody says, but NBA topshot is a massive bubble. I would never ever invest in that. Other NFTs, I can see massive potential🤞
Hi Andrei thanks for this video and what NFT projects do you recommend that are a decent price and what I mean by that is the 200-400 dollar range.
I ACTUALLY understand NFT's now. Thank you so much for elaborating so clearly!! you should be like a mentor or something!
sir anti ape association there is too much hype going on take a look at it
I recently found this NFT project Anti-Ape Association , I think they are gonna be like next bored apes, they are gona make people rich.
We're not gonna talk about the yugioh/pokemon card?
Ready player one is a bad movie. Its overrated. Bad movie choice.
Just screenshot them
This is crazy 🤪
WAIT…NO ONE NOTICED THAT WAS A YUGIO CARD WITH A POKEMON CHARIZARD?
Where’s this man body @🦇
Got the best ROI from my first ever nft. Rightforge made it possible…
Got the best ROI from my first ever nft. Rightforge made it possible…
Got the best ROI from my first ever nft. Rightforge made it possible…
Thanks to Right Forge.. got the best ROI ever
Thanks to Right Forge.. got the best ROI ever
Thanks to Right Forge.. got the best ROI ever
How do I buy Tom Brady mystery box. Can u show
Hmm…. Buy a house, or buy monkey photo?
10 min in and finally hearing what i need
You look like Wojak soyboy meme