WHAT’S AN NFTs?
NFTs- Non-fungible tokens,
Fungible means replaceable, tokens mean proof of ownership (digital contract)
Blockchain-A new technology that is not in control by any government or company., Is free to control blockchain is a public ledger that stores data such as the transfer of money
NFT is built on a blockchain with the smart contract after being created there is a name and token known as non fungible tokens. Like I have a selfie-and I will ask blockchain to give me a token of ownership for it. Once data is stored in the blockchain cannot be changed, you cannot change the name of the NFT owner. While creating the smart contract, I can add a clause to gain royalties from it being the creator and owner so the NFT world is an advantage for the artist and they can protect their art.
WHY DO PEOPLE PURCHASE NFTs?
1- Celebrity – Amitabh Bachchan would buy his NFTs or any NFT associated with a big growing brand.
2- Due to the popularity of NFT, people are buying out of fear of missing out on any opportunity.
3- People generally have a habit of collecting stuff such as NFTs
4- Flipping of NFT is a major reason NFTs have assumed value.
HOW TO EARN MONEY
1- Making and selling an NFT
2- You can buy NFT at a low price and sell them at high prices (trading in NFT)
3- you can make NFTs are different brands are being an NFT designer
4- To invest in NFT crypto Projects like decentral etc.
You can invest in NFT through coin switch as it has interesting features like limit order you can order crypto went down, it will have purchased by you.
Similarly, you on-sell crypto if it goes 10% or more with a limit order with more interesting features and crypto.
HOW TO SELECT NFT?
Before investing in NFT, see who made the NFT, join the discord of the group research its popularity looking at its availability look at it’s use case similar to the crypto use case you can earn passive income from NFTs should have gaming NFTs, decentral NFTs like I told earlier you need must cautioned before investing.