I dont have some good opinion about the NFT hype, somehow looks just like bait for greater digital-economy-engagement of boomers, as all the crypto realm too tho the trading spin would be for laundering the current grey and black market money so would be ready for the next full-digital-economy, but in case of nft’s can hook even teens or poor people thus far more hilarious skim in my opinion!, still I would like to hear some thoughts what would be good practice if any has some experience!
Now also the possibility for A.I. stacks guess messes up heavy that market, and not sure even if its allowed such NightCafeStudio alike drops!?
Also can someone recommend some good comparison between OpenSea and all the rest nft joints, also is it now good time to dive in coz cryptos are in crisis thus potentially it would be good investment at least in spare time to upload all the dropped freelance work, but not sure whether its more effective to go with minting or whole peace upload!?
Let’s circle back to your original statements. NFTs, or non-fungible tokens, are assets linked to a blockchain, which serves as a record of ownership. For the past few years, people have been treating them as speculative investments, in the hope that purchasing such tokens would pay off.
Like any speculative investment market, the value of assets is not backed by a security. Meaning that your purchase of the trendy NFT isn’t protected or insured to keep value. Many have significantly lost value since their introduction.
My opinion of NFTs is two-fold:
As long as you’re not purchasing as an investment, they can be fun to collect as a hobby. They also allow artists to distribute content while showing they were the first to create digital work.
If you’re treating NFTs as a means to grow wealth, they are a high-risk investment. Don’t do this to yourself.
I don’t think this is the best place to discuss NFT marketplaces. Each company that hosts such marketplaces has various fees and conditions under which you’d do business. The bottom line is that this hobby/investment activity will cost you, regardless of how valuable your assets are. I have not done enough comparisons across the industry to recommend any specific business.
You’re saying that because the exchange rate is in your favor, you should go and purchase a lot of cryptocurrency and purchase NFTs with it? Why would you do that, knowing that both the currency and the assets you create with it are in such a volatile market? Are you comfortable not having that money until this market stabilizes (if it does at all)?
Also, uploading and minting freelance work sounds like a legal issue waiting to happen. You’ll need to ensure you have the legal right to upload the work and distribute it. If it wasn’t explicitly stated in your contract with a client, I would not be selling anything I’ve done for a client.
If you’re interested in producing NFTs as a side hustle, consider that most of the value comes from the marketing of the project. The days of just throwing something up and expecting a gold rush are over.