How to Buy and Sell NFTs For Making Huge Profits?

 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.

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.

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.

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