NFTs, Cryptocurrency and The Digital World
**Disclaimer: In no way , shape, or form is this article providing financial advice, this is an educational article, and it is at the readers discretion to act accordingly to his/her own will**
JUST A REGULAR GIRL IN A DIGITAL WORLD
The advancement in technology has pushed us so forward that now digital real estate is just as lucrative as tangible real estate, oh and for the ones who THINK the virtual world is not tangible, tell that to us digital creators that can now create almost anything and upload it to a digital marketplace and make a living sitting down in our living rooms at a laptop, desktop, or mobile device.
I’m just a regular girl in a digital world who was tired of toiling like a slave, dragging myself out of bed to go to different plantations.
Work smarter , not harder they say, and whoever “They” are …were right on the money!
Most people have more money and less time, or more time and less money.
And even more individuals pass up opportunities because they’re not digitally inclined, lack tech savvy, or find it boring. But we are in the age of technology and everything is going digital, so there are individuals who have been ahead of the curve years ago and riding the waves now, there are those who are now riding the wave and there are those who see what’s coming and trying to get ahead of the curve so they can ride the next waves.
SO WTF IS A NFT?!
“Mosaic Bae” NFT from @NftyBaes Baelienz Collection
NFT’s stand for Non Fungible Tokens . It is the new wave and just like some people were leery of Bitcoin and now have witnessed the monster Bitcoin has become even to the point where businesses are accepting Crypto as currency, it will be the same for NFTs. and actually NFTs are generally built using the same programming as crypto like Bitcoin and ethereum.
FUNGIBLE & NON FUNGIBLE
FUNGIBLE
Physical money and crypto are fungible meaning they can be traded or exchanged for one another. Fungible literally means of goods contracted (for without an individual specimen being specified) able to replace or be replaced by another identical item mutually interchangeable.
NON FUNGIBLE
NFTs are digital tokens that exist on the blockchain recording proof of ownership for the creator or person holding it, and each and every token differenciates and carries its own metadata.
META DATA
Meta Data is data that provides information about other data but not the content of the data. Such as the text of a message or the image itself.
Since Facebook announced it would be transitioning to Meta, the stock has gone up and the algorithm has increased for people wanting to know more abouta Meta, and what it means for the future.
What it means is, get in now while the getting is good! Get as educated and informed as you can or attach yourself to others who are, and soak it up or invest in the expertise of those who are in the know and can assist you, because this is where the wealth resides, and the wealth builders are continuing to profit off the ignorance of others.
THE MOST COMMON NFTS
- Crypto Art
- In Game Items
- Virtual Land
- Music :Check Out How Tory Lanez NFT Album made millions in seconds!
- .Crypto Collectibles
NFTs ARE NOT CRYPTO
NFTs are an asset that can be purchased with crypto, but it itself is not crypto.
NFTs ARE A CREATORS DREAM
Because before NFTs, there was really no way to prove authenticity or rightful ownership of digital art, because things can often easily be manipulated, photoshopped etc. NFTs allow proof of ownership and authentification in the digital world, also now the same way “scarcity” exists in the real world, it exists in the digital marketplace as well. Because each NFT created is unique and rare it creates value when tokenized and the creator can decide to do a one of one or a collection which also adds value to art enthusiasts and collectors.
The Good, The Bad, And The Ugly
The good is there is a great potential to make a shxt load of money in the digital space
The Bad is there is a great potential to lose a shxt load of money in the digital space
The Ugly is , like everything else that is digital, you have your evil geniuses and wicked upper echelons who know how to hack and manipulate these markets, so taking precautions with your online wallets is necessary just as you would your physical wallets. Just as it is risky to walk around with thousands of dollars on your person, it is just as risky keeping thousands and hundreds of thousands in your digital wallet.
SO HOW DOES ONE GO ABOUT CREATING AN NFT?
Here’s a video, by yours truly breaking down how to get started, and there’s even a major life hack towards the end to list your NFTs minus the “gas fees”
WTF IS A GAS FEE?!
The “gas fee” is a charge associated with Ethereum transactions, which account for the computing power required to mine the currency. Gas fees typically change throughout the day, depending on the volume of transactions on the blockchain at the time.
It’s kind of like taxes…crypto tax!
There’s so much to learn, so much to go over about NFTs but this is all you hear about now, if you’ve been listening. I’m learning to follow the bread crumbs of the trails of the wealthy, and they follow the trends, so I am doing the same.
They always say when in Rome, do as the Romans do. As long as what the Romans are doing doesn’t go against my morals, and values, sign me up to get this digital currency!
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