Title: How to Buy and Sell NFTs For Making Huge Profits?
1How to Buy and Sell NFTs For Making Huge Profits?
2- NFTs are so hot right now but they can be a
little bit confusing. So I want to do my part
here and show step by step me buying an nft and
listing my very own nfts for sale online at NFT
Marketplace. So by the end of this video you
should feel like in nft. So we're going to start
with the basics of what an nft is what they do
and why people are buying them. And then we'll
dive into the step by steps right after that and
hey you know some nfts are selling for tens of
thousands of dollars. - So maybe you'll watch this you'll understand
what's going on and you'll be the next big nft
millionaire that'd be pretty cool. First off what
is an nft this stands for a non-fungible token
but what exactly does that mean fungible means
the ability of a good or an asset to be
interchangeable with another individual good or
asset of the same type.
3- So an asset that is Most Popular NFT Marketplace
is the best kind of asset to use in commerce the
prime example of a fungible asset. If someone
gave you a 100 bill and you gave them back 520s
no one loses no one gains anything because cash
is fungible the same thing would be true. If you
gave me an ounce of gold and I gave you back a
different ounce of gold. They're both worth the
same they are interchangeable for one another.
Now an on-fungible asset is one that cannot be
substituted identically for another asset so if
me and you were to trade cars even. - If the car was the same model in year it would
not be fungible because one of us could have a
manufacturer defect or may be yours rides a
little bit better but the gas in your car that
would be fungible because it's interchangeable
other more traditional. Non-fungible assets
include real estate art work and now encrypted
digital token.
4- NFT Music Marketplace now the word token in the
case of non-fungible tokens refers to a digital
certificate stored on a block chain in the exact
same way that your favorite crypto currency is
stored on a public ledger. So an nft is a digital
asset that can't be substituted for any other
digital asset and it's publicly verifiable. Now
you might be thinking why would I pay 100 or
1million dollars for something that I could
literally just screenshot and have for free in my
phone and that's a great question. - It really comes down to the verifiable ownership
collections and social status so just like most
expensive things. They're generally purchased in
some way as a status symbol and then as
everything are turning more and more to the
online world. It's just a natural extension for
people to want status in this world that they
live in the digital world where we spend most of
our time frankly. - Reference URLÂ How to Buy and Sell NFTs For
Making Huge Profits?
5Thanks for Watch
Address New Phoenix Street, Arizona, United
States - 85001 Contact Us contact_at_lexit.com