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❕NEWS A collector was offered $1 million for an NFT

AudraMiller

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An NFT is a non-fungible token. There was a token that was purchased at the start of this year by one of the collectors in which they paid $100k for the token of an NBA player Zion Williamson. Recently in a news article it seems that the collector was offered 1 million usd for that token, and surprisingly enough he had turned down the offer on the token. What are your thoughts on this? Do you think that this is the right decision considering that just two months back he had purchased this for only 100k USD?
 
Well i think he knows that the coin have a huge future and that is the reason he is still holding the coin , when the price increase he would earn more
 
He probably knows that it could be worth more in the future because I couldn't see any reason for him turning down such an amount that gives him such a huge profit margin.
Yeah this is most likely the case. From what i read about the coin upon further research it seems that it has been been given a 'legendary rare' status, which could be the reason why it is going to increase in value with time. Would you have taken the same action as him or would you have secured a large profit like this rather?
 
Yeah this is most likely the case. From what i read about the coin upon further research it seems that it has been been given a 'legendary rare' status, which could be the reason why it is going to increase in value with time. Would you have taken the same action as him or would you have secured a large profit like this rather?
Whats the meaning of legendary rare in that statement i would really love to know more i think , and it seems the coin is not listed on major exchange sites
 
I think by turning down the offer makes the value a lot more than it is. Because clearly those who wants it needs to offer more since the previous offer got rejected
 
Whats the meaning of legendary rare in that statement i would really love to know more i think , and it seems the coin is not listed on major exchange sites
I also found that the coin was not listed on any exchanges, so I am not sure if this NFT is being produced as a physical coin instead and the payments are happening physically. By legendary rare i think that they are referring to the number of coins that are in circulation. I think this is very low hence the reason why it is rare.
 
I also found that the coin was not listed on any exchanges, so I am not sure if this NFT is being produced as a physical coin instead and the payments are happening physically. By legendary rare i think that they are referring to the number of coins that are in circulation. I think this is very low hence the reason why it is rare.
If the volume is really low and its not listed on any top exchange sites i would be really scared toneven invest in it because the flunctuation could be worrisome
 
If the volume is really low and its not listed on any top exchange sites i would be really scared toneven invest in it because the flunctuation could be worrisome
I agree with you. And also with it not being listed, there is limited exposure for the actual coin so there is a chance that the demand will decrease quite rapidly very quickly and the investment you once ha may soon be worth nothing.
 
I agree with you. And also with it not being listed, there is limited exposure for the actual coin so there is a chance that the demand will decrease quite rapidly very quickly and the investment you once ha may soon be worth nothing.
I notice that those coin with Low volume do have a very high flunctuation i think ,and it could days before it recovers after falling in price
 
Yeah this is most likely the case. From what i read about the coin upon further research it seems that it has been been given a 'legendary rare' status, which could be the reason why it is going to increase in value with time. Would you have taken the same action as him or would you have secured a large profit like this rather?
Honestly, I would take the 1 million dollars deal because as this coin is digital, what happens if in the near future it becomes valueless for some reason?
 
Honestly, I would take the 1 million dollars deal because as this coin is digital, what happens if in the near future it becomes valueless for some reason?
I would do the same thing as you and to take the 1 million dollars because this is quite a substantial profit that you got from only a couple of months and as much as you may be able to develop a greater profit in the future the volatility is very high especially on a coin that is not really listed on other exchanges
 
I would do the same thing as you and to take the 1 million dollars because this is quite a substantial profit that you got from only a couple of months and as much as you may be able to develop a greater profit in the future the volatility is very high especially on a coin that is not really listed on other exchanges
Nothing is set in stone where Cryptos are concerned, so, if I were in those shoes, I wouldn't dare take such chances that may be regrettable later on.
 
He probably knows that it could be worth more in the future because I couldn't see any reason for him turning down such an amount that gives him such a huge profit margin.
Exactly why turn down a million bucks, that's only if you know you could get much more in the future, with crypto even it's better in the long term
 

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