The Guide to NFT: It's All About Investing in the World - Walla! Of money

2022-05-27T05:24:35.828Z

The virtual concept NFT is the new periodic mast that is driving the country crazy after Bitcoin. What exactly is NFT, who can buy, how does trading take place and what can (if at all) be gained from it?

The Guide to NFT: It's All About The Investment That Makes The World Crazy

Similar to the beginning of the Bitcoin era, the virtual currency that aroused curiosity and led many investors on the short path to wealth, so too does the NFT drive everyone crazy.

So what is NFT anyway, who can buy, how does trading take place and what can (if at all) be gained?

I have Seville

25/05/2022

Wednesday, 25 May 2022, 15:00 Updated: Friday, 27 May 2022, 08:17

Share on Facebook
Share on WhatsApp
Share on Twitter
Share on Email
Share on general
Comments
Comments

In preparation for Tomorrow's exhibition, a new and unique digital multimedia exhibition, which will include, among other things, contemporary digital art from the NFT world. : It is impossible to touch, realize or smell it - as if it exists, but in another world - the digital, online world.

If you have not yet heard of the concept of NFT, you are probably not connected to the land on which we live.

Similar to the beginning of the Bitcoin era, the digital currency that sparked quite a few public and media debates and led many investors a short way to wealth, the NFT concept is the new buzzword that drives those who dream of a rapid financial upgrade crazy.

The concept of NFT remains (still) shrouded in mystery, attracts celebrities who invest in it, and gains awareness, recognition and trade among people that investing in something that does not exist (physically) - fascinates them.

Among the brave, there is a sense of boldness and primacy, progress and innovation, which may motivate the motivation for trade between the parties: the creators and investors.

The challenge of investing in an item / work that is in general a digital file that has no real real value, but is influenced solely by demand, arouses in them passion, curiosity and anticipation for

the future.

Stein Bieber, Madonna, Snoop Dogg, Serena Williams, Neymar, Jimmy Fallon, Gwyneth Paltrow, Shaquille O'Neal and Paris Hilton own hundreds of thousands of dollars worth of NFT work. But what is NFT anyway and what makes these works so coveted? Experts and we came back with all the answers.

Master wigs and hair extensions, is there such a thing?

In collaboration with the Center for Hair Solutions

Bitcoin, the virtual product that drove the world crazy (Photo: ShutterStock)

What is NFT anyway?

NFT is an abbreviation of the term: NON FUNGIBLE TOKEN - or in free translation "irreplaceable token", which represents a whole world of products that can not be felt, smelled or tasted, but only watched and in some cases even listened to.

NFT technology makes it possible to prove ownership of a digital asset.

The property in question can be a digital drawing, a character in computer games, a video or an audio file.

Attached to that property is a unique code that cannot be forged or duplicated and constitutes a certificate of ownership / proof that it is original and unique.

Attached to that digital asset is a unique code that is proof of its originality.

Each NFT has a unique blockchain ID that cannot be forged or duplicated.

To a large extent, ownership of such a file is similar to ownership of a digital currency, but unlike currencies, the NFT is not interchangeable, but unique and its value depends on demand - like ownership of a work of art in the physical world.

An artist named Biffle signed on to the transformation and exposure of the NFT world to the general public when in February 2021, a piece was sold at auction house "Christis" a collage of 500 pieces called "Everydays" for $ 69 million.

YOTPO company NFT department for its employees (Photo: YOTPO)

How to buy NFT?

Open a digital wallet (MetaMask is the best known to NFTs collectors) and purchase Atherium coins where most NFT trading is done using it today.

Then connect your wallet to one of the NFT trading platforms - the largest of which is OpenSea and look for the NFT you are interested in purchasing.

Rosalch of Landover Coffee - NFT (Photo: PR)

How can I make money from NFT?

Billions of dollars in trade already exist and hundreds of thousands of traders take part in it.

In order to make money traders buy NFT at a low cost and wait for its value to increase in the future in order to sell at a profit.

The difference between the purchase price and the sale price is the profit from the NFT.

The option to profit with the least risk is to buy the NFT at the time of its offering when the price is relatively "cheap".

This date is called Mint - the purchase of a work at the initial launch price and before the digital work is revealed, it means that you do not know what specific work you are getting until the date of exposure.

Of course, not everyone who buys a piece at a "cheap" price will be able to sell it at a profit in the future.

This depends on various factors like the project, the artist and what things they offer to the community that owns NFT.

Therefore, it is important to study the field before entering it and research the projects before investing in them.

The main characteristic that unites successful projects in this field is the community.

The more people who love the art and get excited about the project the more likely it is to succeed.

Once a lot of owners talk about the project in a positive way and post on social media about it, the chances of success increase.

Discord and Twitter are the most powerful platforms in the NFT world where community members connect with the project and other community members.

Barbie brand NFT with fashion designer Belmain (Photo: Mattel Press)

What should you watch out for?

Just like anything new in the tech world there are attempts by crooks to steal money from innocent people.

In the NFT world there is an "iron law" that aims to prevent fraud.

A project will never send you a DM message and will contact you first.

This law comes to prevent crooks from sending messages "on behalf of projects" and taking money without providing anything in return.

In addition, in leading projects there will be no sudden sales of surprise but only planned things that have been announced a period in advance.

These "laws" were written because there have been cases in the past that have broken into the discord or Twitter of leading projects and tried to commit scams and link people to unsafe links that could lead to the theft of money or works.

The best way is to research the field comprehensively, accessing only official project links and avoiding accessing dubious links or sites.

NFT - a work of art that is a digital file (Photo: ShutterStock)

Why does NFT attract celebrities?

NFT has recently been considered a status symbol.

Celebrities purchase works from leading projects for hundreds of thousands of dollars and can show off that the works belong to them and show them to the people around them.

They are changing the profile picture on social networks and showing the world their NFT.

Many world famous celebrities hold NFT works including: Gustine Bieber, Snoop Dogg, Madonna, Reese Witherspoon, Sia, Gwyneth Paltrow, Eminem, Neimer and Jimmy Fallon.

In addition to them there are celebrities who entered this world anonymously solely because of the challenge and opportunity to make money from it, although what ultimately brings an opportunity for huge profit, is actually the combination of the digital asset and the famous media icon.

Successful NFT Collection: Bored Ape Yacht Club (or BAYC for short) (Photo: ShutterStock)

The monkey of Omar Adam

This is the first foothold in the industry that is going to be significant in the coming years.

Right here with us, last week a news item was published about Omar Adam who was renewed with a rare monkey and he reveals it on his recently opened Twitter account.

After many celebrities in the world, he too chose to "adopt" one of the most equal monkeys in the most successful NFT collection in the world: the Bored Ape Yacht Club (or BAYC for short).

Currently the minimum price of each piece is in the hundreds of thousands of dollars.

For example, Justin Bieber parted ways with $ 1.3 million in favor of ownership of the unique work.

According to Omar Adam: "This is the first step in an industry in which I believe in its potential, in the long run."

Omar Adam's monkey is a descendant of a glorious family - a collection of 10,000 cartoons of apes created by an algorithm automatically on top of blockchain technology.

Each monkey is a completely unique creation and its price is characterized by the rarity of its design-physical characteristics.

For example, only 12% of monkeys have gray fur, 8% of monkeys have a tired facial expression and only 2% have a propeller cap.

A person's monkey is considered particularly rare due to the special clothing that the monkey wears and also in light of the gum balloon it inflates - it turns out that only 1% of the 10,000 monkeys offered have these characteristics.

Omar Adam's Monkey, NFT (Photo: PR)

Adam's monkey will be in good company in light of the fact that the monkey purchased by footballer Neymar also has chewing gum, and that Eminem's monkey has clothing similar to Adam's.

The project, which is backed by a company called Yuga Labs, was officially launched in April 2021 and has so far garnered sales worth more than $ 1 billion.

On April 30, 10,000 monkeys were offered for sale at an initial cost of about $ 200 per piece.

Since then, the owners of the monkeys have started trading in them, the demand is proud, the monkeys have started trading in amounts of thousands of dollars and today, in order to be the proud owner of a monkey from the famous series there are people who are willing to part with hundreds of thousands of dollars.

To be the proud owner of a monkey from the famous series you will have to part with hundreds of thousands of dollars (Photo: ShutterStock)

The monkeys star in the profile picture

The monkeys in the series are meant to be used as profile pictures, each one unique and each one can be purchased as NFT only.

Beyond intellectual property rights in the work (the owner can make any use of the work of his mind - for example, display it on clothing), the ownership of the work gives the owner a ticket to the "Bored Monkeys Yacht Club" - an online club that is expected to hold exclusive events for members The club;

And when the club members are characters like Justin Bieber, Madonna, Snoop Dogg - it's likely to be interesting.

In parallel with the renewal of the monkey, Omar Adam signed a memorandum of understanding over the weekend with the public company Tectona for the creation of a variety of digital and NFT products.

Tectona, which is traded on the Tel Aviv Stock Exchange, is considered a leading company in the field of digital assets and blockchain.

Exhibition tomorrow, Ramat Gan Museum 3.

Nft compound (Photo: desperate apewives)

The Mona Lisa is worth $ 400,000 in this market

The Tomorrow exhibition, which will be spread over 3 levels over 3000 square meters, will open on June 10 at the Rag Museum for 4 months and will combine the works of the world's best-known artists (Claude Monet, Vasily Kandinsky, Paul Cézanne, Van Gogh, Gustav Klimt, Aubrey Birdsley and others), whose works will be displayed on huge spaces using the most advanced projection technologies in the world, which will give visitors to the exhibition a supersensible, imaginative and interactive experience, through which they will feel the artists' paintings and life stories.

A popular, Israeli, digital, art collection consisting of 10,000 box office NFT works, carefully designed to represent influential and iconic women and styles in pop history and culture.

Works inspired by Paris Hilton, Chiara Fargani, Queen of English, Kylie Jenner, Wonder Woman, Marilyn Monroe, Cleopatra and more are the rarest in the collection.

Each work is unique, algorithmically produced from over 218 features that have been hand-drawn and rated, in terms of the rarity of the collection, from 1 to 10,000.

The highest selling in the secondary market was of the digital version of the Mona Lisa, the fifth rarest, sold at 87 atrium, worth about $ 400,000 at the time of sale.

Of money