Becoming An NFT Pro
What are NFT’s?
If you’ve been living under a rock, you may not have heard about Non-Fungible Tokens.
These special crypto tokens are irreplaceable and act as a unique identifier of a digital asset and usually come in the form of pictures, videos, or music.
NFT’s act as proof that you own this asset and nobody else in the world can prove ownership of the same asset.
Top NFT Marketplaces:
- OpenSea
- Rarible
- Solana Marketplace
- Mintable
Other emerging marketplaces may include:
-Looks Rare
-Binance NFT
If you’re new into NFT’s, you will need a crypto wallet to store your NFT’s once purchased. Most Ethereum/Polygon NFT marketplaces utilize “Metamask” (OpenSea, Rarible, LooksRare, Mintable…) whereas Solana NFT’s utilizes the “Phantom” wallet
How To Make $$$ With NFT’s
- Flipping (Buy low, sell high)
- Holding (As crypto prices rise, so do NFT prices. Some NFT projects give your special rewards for simply holding their NFT as well)
- Selling (You can try to sell your own digital assets(pictures, music, etc…))
How Can NFT’s Help You?
- Popularity (Simply owning certain NFT’s will gain attraction of other like-minded NFT enthusiasts which may boost your social status)
- Wealth (Get in early on an NFTproject that blows-up, or sell your own art for good profit)
- Art (Since most NFT’s are currently just pieces of art, it’s a visually attracting market and one may find enjoyment simply off the art)
Use Cases Of NFT’s
- Events (soon, most events in person will sell their admission tickets (and more) in the form of NFT’s) [Imagine how much an old ticket for the AIDS concert where Queen played would sell for to collectors now…]
- Shares (NFT’s can act as shares of a business… Owning 1 of our NFT’s acts as 1 share of our business and can earn dividends for holding the NFT)
- Entertainment (Imagine if Pulp Fiction got divided into each frame and each frame was sold as an NFT…) [This DID happen, but not with the whole film ;]] (Full-length movies, songs, art, TV shows, and social media posts/videos will all become NFT’s and sold for those who care to own a piece of the provider of the NFT’s.
What To Look For When Investing In NFT’s:
- Community (This is arguably the most important factor when investing in an NFT project… How is the engagement from the community? Does it seem like real or fake engagement? Is the community very active and always wants more from the project? How is their Twitter and Discord activity?)
- Team (Is the team real “doxxed”? Do they have experience in the field? Does the owners already have an audience?)
- Utility (To have no utility for new NFT projects is like shooting yourself in the foot nowdays… There seemingly HAS to be more than simple art for NFT projects looking to launch [unless your art is out-of-this-world]
ALWAYS BE CAREFUL!!!
I can’t stress this enough! Be extremely vigilant and aware of every link you click on, every transaction you make, and every person you interact with as scammers are plentiful in the space and rugs get pulled from the best looking of projects.
Triple check all links before you click them and make sure they’re the official link you’re looking for. Also triple check all wallet address’s before sending NFTs (or crypto) to anyone.
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Cheers,
The Dudes Crypto
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