The creation of Beeple is the most costly NFT ever sold in history. He was sold for $70 million, which is equal to 1 trillion rupiah. Hello, good news. I hope it’s also there. I’ll talk about NFT in this video, which is highly busy.
Has anyone got one? Or do you still lack clarity? Those of you who are still perplexed should read this essay. So let’s just discuss it.
That’s a great topic to talk about. NFTs have indeed gained a lot of popularity and attention recently, especially with high-profile sales like Beeple’s “Everydays: The First 5000 Days” NFT. It’s fascinating to see how the market for digital art and collectibles has evolved with the introduction of blockchain technology and NFTs.
Some other notable NFT sales include:
- CryptoPunks: a collection of 10,000 unique 8-bit characters that sold for over $1 billion in total.
- Art Blocks: a platform that generates unique algorithmic art pieces that have sold for up to $3.6 million.
- Bored Ape Yacht Club: a collection of 10,000 unique hand-drawn apes that sold out within hours and have since seen individual sales of up to $2.5 million.
It’s clear that NFTs have opened up new possibilities for artists, collectors, and investors alike. However, it’s also important to note that the market for NFTs is still relatively new and volatile, with prices and demand fluctuating rapidly. As with any investment, it’s essential to do your own research, assess the risks and potential rewards, and invest wisely.
Unlike before, many people are now sharing or even updating their social media profile photographs to include NFT-NFTs to indicate that this is their NFT. You don’t commonly see these images on social media.
or maybe just for fun. despite the fact that all they have online are screenshots. Is anyone still unclear at this point?
NFT is cool but actually has nothing, what does it mean?
Well, here it is. NFT stands for Non-Fungible Token, a unique and irreplaceable digital art or digital art.
Well before the NFT. If we want to buy a painting, for example, well, we don’t know where to buy it, right? Who are you looking for, and how do you know if this is a real painting or not?
You can carry around an evaluation of an artwork if you want to, but doing so is inconvenient and expensive, not to mention risky if the appraiser is working in concert with the seller. NFT or digital art is now available to address that issue. The NFT or the products we purchase are original; they cannot be reproduced. solely ours, and on the NFT market, it’s also simple to purchase.
Later, we’ll go into greater detail about it. Although it was previously mentioned that I should have a cool profile photo, I don’t actually have one.
Right. So, for example, if we buy NFT in the form of an image like this, anyway, there are many forms of NFT. There are pictures, there are videos, there are music, there are virtual lands and so on.
Later he will be more and more shape. For example, let’s buy a picture. The picture is like this, then there are people who carelessly, well, he screenshots this picture either on the internet or in the marketplace.
After that he made his profile picture, well, you can like him. But if the NFT that we bought, which he copied, the price goes up, he can’t sell someone he doesn’t have the NFT. Only we have it, we have the unique code and we can sell it and enjoy the capital gain or the increase in the price of this NFT.
Unique Smart Contract in NFT
These NFTs are now each recorded on the blockchain with a separate Smart Contract, making them impossible to steal.
Unless we lose our password or it is compromised. Then there is anything that is unclear. Why do we purchase NFT, such images?
People purchase NFT for a variety of reasons. Just picture NFT like purchasing a piece of art. Someone who collects art is actually a fan of, say, Marvel, and when Marvel releases a painting, he purchases it.
Consider NFT; he purchases it as well, so whatever it is, he will undoubtedly purchase it because he is a fan and collector.
But there are also investors and speculators who are NFT, so he buys NFT then hopes the price goes up, and then he sells it.
Well, that’s the type that we will discuss in this article.
In this NFT, there is no concept of dividends or cash flow, so our profit so far is only from an increase in the price of buying a thousand and then selling it for 2 dollars, for example, but I admit that the crypto world has many kinds. For example, we often buy/sell NFT transactions in the NFT marketplace, such as Opensea.
If we are frequent, we can go to one website, we can, claim the air drop, or get free tokens.
The more we do NFT transactions on Opensea, we will get free air drops or tokens in the form of dollars, with more.
Well besides that, we can also use our NFT, as an avatar or other things. In the world of Metaverse later, well besides that, you also have to know this.
2 gangs that are very well known in the crypto world right now, there’s a name called Cryptopunk whose pictures are like this, right, and there’s also the Bored Ape Yacht club or BAYC for short, that’s usually the picture.
Monkeys or whatever, and there are many cryptos whose themes are animals, whether cats, sharks, ducks, or whatever.
Oh, there’s a lot of things. Well, these NFT-NFTs are usually made by artists or artists and then they can be sold.
Now, the most expensive NFT ever sold in the world, his work Beeple sold for $70 million or equivalent to Rp. 1 trillion.
Well, maybe someone is wondering, how come the price is that expensive.
First, back to the analogy of painting, okay, so just imagine this NFT, it’s like we’re buying a painting.
So, it’s really expensive and not for everyone. So why is this painting so expensive? Yes, it’s also difficult to analyze, maybe because of the history factor, or who drew it.
Then the artist has died and so on. So just imagine it like a painting. Second, this is the world of crypto and NFT, right?
It’s not really regulated by the government.
It could be money from money laundering or things that are not legal.
Also played or hidden in things like this. Well, after we already know a lot about NFT.
Maybe you are asking now. How do you buy it?
Ok, first, we have to have a wallet first, ok? Usually, people use MetaMask or there are other options called Trust Wallet or Rainbow.
So, we have to download the apps and open an account there, people usually use a desktop, I see. So, they also make extensions. So, if you want to go to any website, to browse about crypto or invest, just connect to the wallet.
So, we can’t use accounts like Binance, Tokocrypto, Pluang, Zipmex, Pintu. Not yet, maybe they are developing now.
The NFT marketplace is just definitely not going to be as complete as the first player, which is Opensea. Now, the second step is that we must have an account at Opensea.
Opensea is NFT’s marketplace, there are many NFTs there. We just have to choose and buy, we can download the apps on our cellphones, but usually people make transactions via the website. Well, apart from Opensea, there are other NFT marketplaces like Rarible, Grime’s Choice and Nifty Gateway.
But, indeed the most popular is Opensea at this time. So, let’s continue to connect our MetaMask account to the Opensea Connect, it’s easy.
So, if we want to buy NFT on Opensea, we have to use Ethereum as the currency, because this is the Ethereum ecosystem.
Common Currency for NFT Transactions
So we have to buy Ethereum first. You can use Binance, Tokocrypto or other centralized exchanges.
We continue to transfer or we move this Ethereum to MetaMask. Ok, I’m trying to practice moving Ethereum from Binance to MetaMask.
Now on Binance, we click on the withdrawal or withdrawal and then we enter our address or MetaMask address and enter the amount we want to transfer and the verification codes, actually, it’s that simple.
Now, after we already have Ethereum in our MetaMask, the third step is to just choose and buy it, the NFT we want. Now, I’m trying to practice buying one of the NFTs. Now, let’s click, let’s see, friends, besides the NFT price, there is also a gas fee, this is probably like a transaction fee, isn’t it?
Indeed, Ethereum gas fees are very expensive, this is also what makes them the safest in a way. So my tips might be to choose the hours that are not crowded. When the US people sleep, it’s usually 9 to 12 noon in Western Indonesia. So, if we want to complete the transaction, just click ok and it’s done! Done.
We already have our first NFT, maybe I’ll give you a look, this is my first NFT, yeah, this is the Adidas collection in collaboration with Punks Comics and also the Bored Ape Yacht Club, I see this is Adidas and there’s also BAYC and Punks Community.
So, I think this is a pretty interesting project. So, if you ask, what does it do? First, this NFT can be used in the sandbox later in the Metaverse world.
Then we can also get access, for Adidas items that are sold exclusively. Third, we can also get access to digital and physical experiences.
So if you read the news, Adidas just bought 144 virtual lands in the sandbox. So, for example, if they held a closed event, it would be in the sandbox.
Now, those of us who have Adidas’ NFT can join the event like we are part of a community. Well, while studying NFT for the past few months, these are my basic NFT investing tips.
Anyway, I’m also still a very newbie. So, for those who are good at watching this video. Can you help me with the tips in the comments?
First, using idle money, that’s for sure because buying NFT is like buying a painting. It’s a bit difficult to analyze, compared to stocks or mutual funds or other investment products.
since tastes can vary from one to person. So, who is in charge of the project?
How did he create his community, secondly? Third, we must comprehend the NFT that we purchase.
Why did we purchase this? The project whose owner? how is the neighborhood? How will things be in the future?
What type of access, if any, will we receive if we purchase this NFT, etc.? Don’t do it merely for the sake of fomo and follow-up. Fourth, this NFT is still, in my judgment, an investment for the wealthy.
Just take a look, the prices of some well-known NFTs are crazy, they can’t be broken down into smaller lots or units, like stocks or mutual funds, which we can buy starting from 100 thousand, in this NFT not yet. can.
So, in my opinion, buying NFT is a liquid one, which is widely traded. So, for example, let’s buy 1 NFT. Then it can’t be sold anymore because no one wants to buy it, so what for? We have something we can’t sell?
more so if we are acting in the capacity of investors or speculators. Not a collector who genuinely loves NFT and wants to keep it for the rest of time; keep in mind that NFT is special.
Thus, if we possess it, it is solely ours. if the image is poor and no one wants to purchase it despite numerous other collections doing so. The risk is already there.
Perhaps that is where the NFT investment video kicks off. I hope it is beneficial and useful. If you know of any intriguing NFT initiatives or other valuable NFT advice for your pals.
