NFT Bandwidth: A Key to Your Sanity & Success
“Where do I begin?”
That’s the question I asked myself as I started writing this article. It might be the same question you’re asking yourself as you get into the world of NFTs.
The start itself isn’t exactly why I’m here. But, if you don’t know the answer to that question, I suggest you put your focus there before jumping into every trendy BoredMutantCryptoTopPetClub that you hear about on Discord, Reddit or the even the local news.
I’m here to talk bandwidth — your capacity for involvement in the NFT world. This could be your mental capacity or your pocket’s capacity.
No matter how you’re looking at it, consider how stretched you want to make yourself. It doesn’t take long before you could have more NFT projects than Beeple has daily jpgs. In the NFT world, like many other hobbies, it’s best to be an inch wide and a mile deep rather than a mile wide and an inch deep.
Personally I’m focused on 3-4 projects and they’re all in a similar category, sports — specifically MLB and NFL.
I first became involved with NFTs when seeing that Topps was putting their baseball cards out as the first MLB licensed NFT-based card collection. From there I expanded into a few other projects on different platforms. (You will quickly learn that it’s very easy for your interest to bleed from one project into another; it wouldn’t be hard for my sports rabbit hole to all of the sudden have me tracking down something ridiculous like intramural cricket NFTs if I didn’t set personal bandwidth limits!)
Wait, different platforms on top of different projects? That’s one thing you’ll learn quickly as you NFT — marketplaces to buy and sell these things could be anywhere and could use any type of currency.
Importing and exporting money may be challenging, it may not be available in your region, it may require additional fees to transfer funds, etc. Yet another piece to learn as you explore your NFT worlds of interest — and another factor to consider as you think about your personal bandwidth.
There are many cool, inventive projects out there and I honestly don’t want to know how many I’m missing. I prefer to be active and engaged in only a few so it’s easy for me to monitor buy/sell opportunities, fluctuating prices, special offers, challenges and other project-unique offerings. This makes it even easier to have a strategic plan and stick to it as you’ve read in other Radish articles.
I couldn’t tell you what a Veve is and Timmy has spent more time in a well then I have in OpenSea, but I can see a single NFT for sale in one of my primary projects and very likely know if I’m seeing a good price or not with no further research. (Note: always do your research before buying!)
Your personal NFT bandwidth may be much wider. Maybe you’d like to dabble on a handful of projects before committing. Maybe you’d like to really focus on one or two and be a top collector in that project. No matter how you approach NFTs, be sure you take your capacity into account to maximize knowledge and engagement.
Maybe I will learn about another exciting NFT project in the near future, and this one has my attention, but for now I’m happy limiting myself. My personal bandwidth limits keep the NFT world fun and manageable, which ensures my sanity and success.
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Enjoy your experience!
-The Weezy Apricot at RadishNFT
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Disclaimer: We are not financial advisors and the information here is not financial advice.
