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How do people actually get rich with NFTs? 🤑

Everyone thinks you get rich overnight, but sometimes its just your luck and sometimes its hardwork of many sleepless nights! and being smart is the key. When to buy and when to pull out!
Looks like you know somethings about NFT. I have been hearing about this for a very long time now. But I have not find time to learn about it and how it work.
What is really this NFT?
And how is it related to cryptocurrency like bitcoin?
I would be glad if you can explain these to me?
 
If you are to make money through NFTs you have to be creative or buy something that alot of heart was put into.If you are creating then you also have a part of branding that is needed.This will help you get something that will be sort after even years to come.As we already know that there are various NFTs and some ate even only digital bit others are attached to an actual product.Initially this gives you full access as an artist or investor to have sort of like royalties that are benefitting only you.

So buy something with value like the case of Jack Dorsey who minted his first ever tweet and he sold it for millions.Athough at times the market crashes but generally that kind of nft will surely sell.
 
I was wondering that aswell. I bought some NFT a month ago just because there was a hype for a certain kind of NFT on binance and what i do is i buy and sell NFTs. What i did was hunt cheap good rarity NFT and sell it slightly higher. Did that make me rich? Definitely not but that's the only way im ever buying NFT.
 
If you are to make money through NFTs you have to be creative or buy something that alot of heart was put into.If you are creating then you also have a part of branding that is needed.This will help you get something that will be sort after even years to come.As we already know that there are various NFTs and some ate even only digital bit others are attached to an actual product.Initially this gives you full access as an artist or investor to have sort of like royalties that are benefitting only you.

So buy something with value like the case of Jack Dorsey who minted his first ever tweet and he sold it for millions.Athough at times the market crashes but generally that kind of nft will surely sell.
That nft which he sold for $48m is not worth more than $280 , because when a celebrity sells something people but it " not because the product has excessive quality but because its a brand value that's attached on it and when the buyer next tried to sold it max bid was $281 so he lost millions thinking he will be rich this way and got the desired lesson too for being too risky in his approach that played out a 100% negative thing
 
That nft which he sold for $48m is not worth more than $280 , because when a celebrity sells something people but it " not because the product has excessive quality but because its a brand value that's attached on it and when the buyer next tried to sold it max bid was $281 so he lost millions thinking he will be rich this way and got the desired lesson too for being too risky in his approach that played out a 100% negative thing
Yes there are alot of factors that mostly have to do with branding that one has to highly consider before embarking on purchasing nfts.It has to do with minting something that will sell for a fortune.

Also you as the owner of the content should be able to pump more of the resources that will escalate the portfolio.
 
I agree people should not be fools and on traffic to buy such products , most of the times the things that hit a person is uneducated investing that always hits big and from time to time it makes you remember about your wrong decision making , I prefer buying real products having an investmental value for my portfolio and assets .
 
NFTs can make you rich in several ways. You can become rich by creating your own NFTs, buying and flipping existing NFTs, investing in NFTs for long-term profit (building wealth), or by creating your own business and incorporating NFTs into your brand.
 
NFTs can make you rich in several ways. You can become rich by creating your own NFTs, buying and flipping existing NFTs, investing in NFTs for long-term profit (building wealth), or by creating your own business and incorporating NFTs into your brand.
How can someone create Nfts
 
How can someone create Nfts
You can create nfts by watching first a tutorial on YouTube , you need to have polygon or at-least 0.1 ETH to mint your nfts and then you need to list your nfts on the opensea or open rare marketplace and then you don't have to care about anything but only about promotion and maybe free giveaways of your nfts to generate some sales as well .
 
These are some of the tips to get rich by investing in NFTs:
1. If you are just getting into the NFT, start by looking at some of the more popular marketplaces and NFT brands.
2. The investment world hinges on supply and demand. in the stock market, for example, price3s go higher when there are more buyers than sellers. In the collectibles market, prices go higher when an item is rare, popular, and unique. The same principle drives up the price of an NFT.
3. Invest in what you know.
 
I unfortunately waited too long with my investment for NFT. I thought there was much more to come, but in the meantime nothing is happening... Maybe it's all the better that I didn't invest back then, when it was still hype. To be honest, I don't really see the benefit of it... I find Metaverse much more interesting, but it's still in its infancy.
 
There are different NFTs and with different utilities. NFTs from reputable projects has use cases which makes it possible for people to desire them and this demand increases the price of these NFTs . There are also ones from artist that lacks utility. Buying such an NFT will not yield much value for the hodler . The only NFT project that I will advise people to go for are those NFTs from gaming projects . This is because they have use cases and are sold easily compared to others. You can also use them in the game to earn in game token. So , yeah NFT with use cases can make someone rich. We can see what is happening with the Bored Ape NFTs and how they are sold for huge amount of money.
 
Like cryptocurrencies, I don't think NFTs are a get rich scheme, at least for most people. Like cryptocurrencies, the few people who became rich were simply lucky enough to catch the right moment to buy and catch the right moment to sell. We also must remember the here too exists the possibility to lose money cause unfortunate timing.
 
Like cryptocurrencies, I don't think NFTs are a get rich scheme, at least for most people. Like cryptocurrencies, the few people who became rich were simply lucky enough to catch the right moment to buy and catch the right moment to sell. We also must remember the here too exists the possibility to lose money cause unfortunate timing.
NFTs shouldn't be a get rich scheme, but unfortunately that's what they turn out to be. They have utility and their use case will expand in the future I think. Just consider one thing about NFTs: they revolutionized the art business. How? Well, nowadays a digital artist doesn't need an expensive auction house to sell his art. He can do it on his own through platforms like Opensea or Sorare. And can do it from anywhere.
 
NFTs Market has grown and if you are not taking part in this industry then you are loosing out on making money. There ate quite alot of options that you use to get involved like you can become rich by creating or minting your own NFTs, buying and flipping existing NFTs and make a profit, investing in NFTs for long-term profit (building wealth), by creating your own business and incorporating NFTs into your brand.Plus alot of unlimited ways according to how much investment you want to put in this industry.
 
If you are to make money through NFTs you have to be creative or buy something that alot of heart was put into.If you are creating then you also have a part of branding that is needed.....

So buy something with value like the case of Jack Dorsey who minted his first ever tweet and he sold it for millions.Athough at times the market crashes but generally that kind of nft will surely sell.
A good explanation.
So it could be Dress worn by a certain Olympic medal winning athlete.
A special painting.
Cricket Bat. Hockey Stick. Football.
Or many other things.
But somewhere it is also about chance and a bit of risk as well.

If something gains a kind of "perception" value in the future, then we gain else we have to sell at a loss or just keep on holding something for a longer time.
Or am I missing something?
 

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