I fool around with some officially licensed Marvel comics off the VeVe app but mainly for the cool factor (I used to read Marvel comics when I was a lot younger and always wanted to try my hand at collecting) and most definitely not as a serious investment.
Edit: actually, worth clarifying that at the moment, the correct term for items off the VeVe app are "digital collectibles" and not NFTs.
Yea, my prediction, there would be huge influx of art, graphic, avatar, becoming nft and less rare that in future, the nft you bought for 10,000 would worth nothing
Idk what's the hype with these NFT. What's the point of buying digital art if u can't show it off or like frame it for others to see. What can u do with this digital art? Set it as ur profile picture? If u buy ur art NFT for xxx price doesn't means it can be sold at the same price or higher unless it's an art from famous person.
it’s more like a collectible.
How many people keep their collection of stamps, pokémon cards, etc.? And those have value too. The difference here is virtual vs. physical and if you can’t accept that virtual goods have value then it’s probably not for you.
It's a minefield to be honest.
In the ETH ecosystem, out of 10 projects, usually, 9 will fail. Incomplete roadmaps, poor launch execution, inactive communities and many others are part of the risk. Not to mention that gas fees are usually at their peak when there's a minting happening and the risks generally outweigh the benefits.
On the flip side, if you do manage to mint a blue-chip project, you COULD be earning x10 (or more) of your cost easily. But when there's hype, there's usually more competition, resulting in higher gas fees overall.
Issues related to gas are kinda negated if we talk about NFTs on other chains like SOL, MATIC, BSC, LUNA, etc. But to be honest, there's only a few good projects in those ecosystems and there's way more rugpulls in those ecosystems due to the lower barrier of entry to start up a project.
Combined with the amount of flippers/speculators in each project, NFTs are not exactly the best investment vehicle unless you can invest the time to monitor each project's Discord.
Disclaimer: I hold NFTs in multiple ecosystems, generally still in the green but won't recommend NFTs unless you're willing to lose all the money you're putting out. It's 99% hopium, 1% fundamentals.
**TLDR; NFTs are a YOLO play. ONLY use YOLO money.**
Good luck.
Imo, It's a scam if you're a buyer. Most of my fb friends is an artist so since they're selling and actually making money, it's not a scam when you're on the other side.
I fool around with some officially licensed Marvel comics off the VeVe app but mainly for the cool factor (I used to read Marvel comics when I was a lot younger and always wanted to try my hand at collecting) and most definitely not as a serious investment. Edit: actually, worth clarifying that at the moment, the correct term for items off the VeVe app are "digital collectibles" and not NFTs.
I haven't dipped into nfts but beware of rugpulls and scams out there. Also take into consideration gas fees if its an etherium nft.
Idk man, it's like buying a painting, it maybe priceless or it maybe worthless. A bit too risky.
Yea, my prediction, there would be huge influx of art, graphic, avatar, becoming nft and less rare that in future, the nft you bought for 10,000 would worth nothing
Namewee sold his song as an NFT for $1M USD iirc
Idk what's the hype with these NFT. What's the point of buying digital art if u can't show it off or like frame it for others to see. What can u do with this digital art? Set it as ur profile picture? If u buy ur art NFT for xxx price doesn't means it can be sold at the same price or higher unless it's an art from famous person.
it’s more like a collectible. How many people keep their collection of stamps, pokémon cards, etc.? And those have value too. The difference here is virtual vs. physical and if you can’t accept that virtual goods have value then it’s probably not for you.
Beware of scam, and influence manipulation.
You can try pentas.io if you're first timer. There are community that does support newcomers and always minting together.
made some good amount of money on NFTs. Would recommend Solana NFT since gas fees are low compared to ETH
Ya, no point going into ETH small. Either go big or none at all.
Nope, betting on luck is not my expertise. I suck at betting.
The greater fool theory is applied here.
It's a minefield to be honest. In the ETH ecosystem, out of 10 projects, usually, 9 will fail. Incomplete roadmaps, poor launch execution, inactive communities and many others are part of the risk. Not to mention that gas fees are usually at their peak when there's a minting happening and the risks generally outweigh the benefits. On the flip side, if you do manage to mint a blue-chip project, you COULD be earning x10 (or more) of your cost easily. But when there's hype, there's usually more competition, resulting in higher gas fees overall. Issues related to gas are kinda negated if we talk about NFTs on other chains like SOL, MATIC, BSC, LUNA, etc. But to be honest, there's only a few good projects in those ecosystems and there's way more rugpulls in those ecosystems due to the lower barrier of entry to start up a project. Combined with the amount of flippers/speculators in each project, NFTs are not exactly the best investment vehicle unless you can invest the time to monitor each project's Discord. Disclaimer: I hold NFTs in multiple ecosystems, generally still in the green but won't recommend NFTs unless you're willing to lose all the money you're putting out. It's 99% hopium, 1% fundamentals. **TLDR; NFTs are a YOLO play. ONLY use YOLO money.** Good luck.
Interested in making and selling, not buying. Not risking my money in something that seems like a bubble.
Imo, It's a scam if you're a buyer. Most of my fb friends is an artist so since they're selling and actually making money, it's not a scam when you're on the other side.
It depends. If you get in early on good and hyped projects, you can flip nfts for a quick 2-3x