Friday, December 2, 2022

NFTs for dummies (my explanation)


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What the hell is an NFT? I was asking that same question myself recently, and luckily I’ve found a few answers.

I’m going to be honest: I’m fairly new to this NFT world as well. However, I wanted to cover what I’ve learned so far on my journey through studying NFTs, to hopefully shed some light on the subject for those of you who are confused about it all.

I know you probably have a lot of questions, so feel free to leave them below so I can elaborate more on NFTs and crypto in a future video.

Please enjoy!

0:00 – I tried to ignore the hype
2:11 – What is an NFT
3:10 – About the current hype
5:12 – Concerns about NFTs
6:48 – Skillshare Insert
7:44 – Future uses of NFTs
9:27 – Are you already too late?
10:29 – Am I making an NFT?
11:36 – Some final thoughts

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Sorelle and Leon.
Founders, Abundantia

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*We may earn a commission if you buy any products or services via the links in this video’s description. This video is not investment, financial, or legal advice. It may be incorrect, outdated, inaccurate, or reflect personal opinions. This video is for entertainment purposes only.

#NFT #NonFungibleToken #Beeple #Crypto



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26 comments

  • The first 1,000 people to use this link will get a 1 month free trial of Skillshare: https://skl.sh/saf01221

  • NFT's sound like they can be used as an alternative to the sites that sell a lamp for $60k but you get a trafficked child withy that purchase…

  • In Tau, your opinion post are your NFTs.

  • Every time, some loser come-up with a new creative idea to steal other people money and become rich, all the losers follow him or her. All of these new so-called creators assure you that their invention is ultra safe and secure. I totally agree with them. How, of course if I want to sell you my garbage basket that has virtually $zero value why would a hacker hack on it when it is worth NOTHING. They want me to buy a cartoon picture of a monkey? why would I buy such a picture, not even for one penny. If I lose such opportunity, that's is fine with me. I would rather stay poor and not invest in such a monkey picture much better than making a fortune on other people misfortune and cause monetary losses to other people who felt pressured and bought into value-less items in the hope to become rich.

    After all, the golden rule as stated by our ONLY LORD/GOD JESUS CHRIST, THE GREATEST EVER and MOST HIGH is: DO unto Others what you would like them TO DO to yourself and DO NOT DO to Others what you DO NOT like them to do to yourself. (whether they consented due to stupidity or did not consent).

  • Well, what would an NFT do that a ticket doesn't?
    Transfer of ownership in the real world doesn't mean much if the state doesn't recognise it?
    If all the banks refused to trade crypto for real money then what value do they hold?

  • I like your thoughts Sorelle. Personally I think that it is a big distraction taking us away from the real world. People need to get out and plant some tomato plants. I am not saying that it can't have some purpose that would help mankind down the road. But if you are playing games in the meta-verse and paying $10,000 per acre for land then you are lost. IMHO. I once bought a piece of art. A beautiful painting. Then later the artist contacted me and asked me if I wanted to buy the NFT of the painting that was hanging on my wall? Why would I do that? In some fashion this NFT stuff is tantamount to selling the pictures that are in your head. Why would I want to own them?

    And I do like the idea of transferring property rights via NFT person to person. But the government will always be involved. They have bigger guns and as we are finding out in the crypto world, the government can make up any rules they damn well please.

    Thank you for this video. I love your stuff!

  • NFTs’ don’t traffic in PDFs’ as far as I know~:o( One of my two digital products is a PDF.

  • Did Sorelle jyst promote Jayzee's NFT? How much was the cheque they paid you!!!

  • NFT's are underrated. Just wait until it explodes like the Internet!!

  • This is just money laundering. Wake up people.

  • Are you still making videos ? Did you anger the BEAST

  • One day the blockchain will be chains wrapped around our legs..

  • The Emperor has no clothes, me thinks. Are we really looking at Dutch Tulip Mania here….. people seem to want to do these things, because they don’t want to miss out…….

  • Seriously……. you think you can use an NFT to transfer the ownership of a house (a physical asset) without paying a legally mandated tax (stamp duty) and effectively break the law. Contract law; contracts are null & void if they are illegal. It wouldn’t matter if the house was paid for with apples…. whatever tax, stamp duty or sales tax was due, would have to be paid in the currency of the jurisdiction of the property.

  • M

    Keep me away I have some collectibles/cards whatnot and I can verify it's mine cause it's in my efin hand 😭

  • T I

    Here’s my concern: people I know who are enthusiastic about NFTs and I are just scared from different things. They assume that the ill intentions come from an intrusive government burdening us with taxes, while I am more worried about private entities with scammy or streight away abusive aims.
    Just as you could transfere assets to whoever you want bypassing taxes, I guess that it would get equally easier to trade with drugs, humans and non-consentially-obtained data.
    Fear of the government vs. fear of all humans in general.

  • Rug

    I feel sorry for people who spend every moment (they are awake) to figuring out how to make more money.

  • God I love your smile so much 1:35

  • So NFTs allows to identify us, to tag us like cuddle. To control us.

  • I'd like to try but I haven't done anything like this yet. Will you make a how to video, so i can get started?

  • Edward Snowden criticised many Crypto currencies like Bitcoin for being another level of surveillance – as you say "you can track who owns & has owned what at what time". Although this shouldn't be an issue & in fact should be a positive, I refer you back to your WEF & Trudeau videos. & this is in no small part why many governments are either implementing them or looking to do so. However! I gather there are more secure currencies that don't track ownership…. & as I'm typing this, I'm probably thinking the same thing as you, surely that means it's more open to abuse. "D'oh". I've been trying to get into crypto for ages but there's always other things I'm busy dealing to.

  • Governments started the 'Social Insurance Number'. It doesn't end well. Of course for tracking, someone invented the Cell Phone. "Dummies for Cell Phones"

  • Title: Dummies for NFTs

  • NFTS are the future of the new world miss, peer to peer back by smart contracts verifiable in the blockchain. Multi- Billion dollar industry already they are moving very fast

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