Non-Fungible Token – digital asset representing anything
‘Fungibility’ means mutually interchangeable e.g. Bitcoin = Bitcoin
NFTs are unique. If you exchange it for another – you will have something different. Hence, ‘Non-Fungible’
NFTs for anyone new in this space!
What are they? What makes them a good investment?
Here are 14 points about NFTs and how you can get started.
🧵
Non-Fungible Token – digital asset representing anything
‘Fungibility’ means mutually interchangeable e.g. Bitcoin = Bitcoin
NFTs are unique. If you exchange it for another – you will have something different. Hence, ‘Non-Fungible’
• Art
• Music
• Comics
• TV Shows / Movies
• Tickets
• Collectibles
• Games
• Benefits
• etc.
Gamers: Wish you could sell your in-game skins?
Sports: Hang up/show-off your team’s merch?
Sneakerheads: Ever lined up at night to cop a pair?
Enthusiasts: Ever bought comics of your favourite character?
Where there is interest, there is $$$
Some NFTs allow redemption of physical items (e.g. @DeadHeadsNFT giving Bomber Jackets)
Easier to buy and sell – avoid storage, delivery, and payment issues like you would with physical items
They can have:
• Memberships (@garyvee #VCR)
• Exclusive access to content (@veefriends #VeeCon)
• Collaboration with brands (@RTFKTstudios)
• Royalties (@ParallelNFT #Masterpiece)
• Tickets to shows
• Commercial Use
• Rewards
• etc.
• Team: background, influence, relationships
• Good idea: easy to grasp, original
• Roadmap: strategy
• Community: engaged, positive, influential
• Art
• Royalties
• Entertainment
• Bragging rights
• Much more! Trust your gut.
• Project's website: about, vision, mission, objectives, stages/milestones
• Project's social media: creators, engagement with community, followers
• Clubhouse/Spaces: discussions, more detail, Q&A
• Discord: updates, chat, ideate, grow with them
• Do you believe in their vision, mission and roadmap?
• Do they have experience/skills to execute vision?
• Is team passionate and transparent?
• Does the idea resonate with you?
• Is art unique?
• Are people excited?
• Long-term v short?
Blockchain technology provides traceability and ownership
In short, it is a long ledger of permanent and public info – buyers, sellers, owner, creator, times, contracts, and other properties
• Illiquidity: need to wait for a buyer
• NFT price: influencers, celebs, marketing, community - has big impact
• Crypto price: can rapidly increase or decrease NFT value
• Supply vs. demand
• Don’t invest what you can’t afford to lose!
• Fake NFT: check seller is verified
• Dodgy link: people sending fake project
• Fake giveaway: receiving a win you never entered
• Wrong currency = much lower offer
• Asking for your seed phrase. NEVER GIVE THIS OUT! No one needs this from you!
Creator can incorporate royalties into future sales
Let’s say they sell an NFT for $100
If that was sold again to another buyer for $200, the creator can get 10% on that sale
Total Profit = $120 (passive income!)
I have put a list of resources and steps in my blog.
Check it out here: https://t.co/DGoQ35qRWB
1/ Feel free to follow me @AldridgeJoseph
2/ Retweet to help new people in this space
https://t.co/VWrckUTMXS
NFTs for anyone new in this space!
— Aldridge Joseph (@AldridgeFJoseph) August 26, 2021
What are they? What makes them a good investment?
Here are 14 points about NFTs and how you can get started.
\U0001f9f5
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Great article from @AsheSchow. I lived thru the 'Satanic Panic' of the 1980's/early 1990's asking myself "Has eveyrbody lost their GODDAMN MINDS?!"
The 3 big things that made the 1980's/early 1990's surreal for me.
1) Satanic Panic - satanism in the day cares ahhhh!
2) "Repressed memory" syndrome
3) Facilitated Communication [FC]
All 3 led to massive abuse.
"Therapists" -and I use the term to describe these quacks loosely - would hypnotize people & convince they they were 'reliving' past memories of Mom & Dad killing babies in Satanic rituals in the basement while they were growing up.
Other 'therapists' would badger kids until they invented stories about watching alligators eat babies dropped into a lake from a hot air balloon. Kids would deny anything happened for hours until the therapist 'broke through' and 'found' the 'truth'.
FC was a movement that started with the claim severely handicapped individuals were able to 'type' legible sentences & communicate if a 'helper' guided their hands over a keyboard.
For three years I have wanted to write an article on moral panics. I have collected anecdotes and similarities between today\u2019s moral panic and those of the past - particularly the Satanic Panic of the 80s.
— Ashe Schow (@AsheSchow) September 29, 2018
This is my finished product: https://t.co/otcM1uuUDk
The 3 big things that made the 1980's/early 1990's surreal for me.
1) Satanic Panic - satanism in the day cares ahhhh!
2) "Repressed memory" syndrome
3) Facilitated Communication [FC]
All 3 led to massive abuse.
"Therapists" -and I use the term to describe these quacks loosely - would hypnotize people & convince they they were 'reliving' past memories of Mom & Dad killing babies in Satanic rituals in the basement while they were growing up.
Other 'therapists' would badger kids until they invented stories about watching alligators eat babies dropped into a lake from a hot air balloon. Kids would deny anything happened for hours until the therapist 'broke through' and 'found' the 'truth'.
FC was a movement that started with the claim severely handicapped individuals were able to 'type' legible sentences & communicate if a 'helper' guided their hands over a keyboard.
