NFTs, Explained

What are Non-Fungible Tokens, Welcome to my YT, Biggest book of my life and many more...

Hi 👋 Prado here

3 Things I thought worth sharing with y’all

1. Non-Fungible Tokens 🙌

The last two weeks have been crazy for the Blockchain, Crypto and CryptoArt world.

From Twitter CEO selling his first tweet for (currently 2.5 Million dollars) to Digital Artist Beeple selling his “EVERYDAYS: First 5000 days” for 69 Million Dollars

I wrote an extensive version of this newsletter in a Twitter thread

So, What are NFTs though?

NFT = Non-Fungible Token.

It’s a Digital Asset that’s unique and one of a kind.

There can be copies of it… but on the blockchain, there is only one. (We live in the internet world where anything can be screenshotted) The picture above got sold for $69M (In INR - 501 Crores)

What makes them so interesting?

  1. Better Blockchain infrastructure (ETH) helped Artists & Creators to give something to their true fans and community 🚀

    Fans are able to own a small piece of something their fav artist has created 🙌

  2. Secondary Sale.
    Every time the art gets sold again the artist who created the art gets a piece of the selling price.

    For example, @beeple got $600k on the $6.6M re-sale of a 10-second video

At the end of 2017, NFTs got famous after memes were getting sold and bought.

Games like CryptoKitties let people buy kitties inside a game. (More games started doing this)

NFT marketplace started arising (Check this out for the difference in platforms)

After the pandemic, things really started coming into the limelight 🚀

In just the last one month:-

  1. Beeple selling “Everydays - The first 5000 days” for $69 Million

  2. 3Lau Selling his Album for 11.7 million dollars (Read)

  3. This GIF was sold for $600,000 (Read)

One of the interesting questions was asked by Kevin Kelly

"We moved from ownership to access (Buying movies and music CDs to accessing Netflix and Spotify) And now NFTs are going in the opposite direction"

Only time will answer this question 🙌

Whether or not you are into crypto & NFTs, this is a space that we must keep an eye on.
This is a huge leap for artists around the world as they found a new way to monetize and give back to their community without too many middlemen

If you are planning to get into this… I suggest you play the long game. Make your collection a place of your life’s documentation rather than another buy and sell shop.

The goal is to be able to tell stories of every NFT you bought to your grandchildren ❤️

Did you mint any NFTs or Bought any (Let’s talk)



2) Few Interesting Things:

  • Tim Ferriss, Naval & Vitalik Buterin (Founder of Ethereum) - Podcast

  • Conversations starters (Blog)

  • What to expect from my YT channel?

  • What lists are you creating?

  • Question of the week: What’s your view on Cryptocurrency?

  • Invite-Only - After I got access to the Matter app (Save for later app) I got in touch with the CEO for invites. Enjoy 🙌 (Click here)


3. “So many stories, so little time”

(Share this on Twitter)


Check out some previous newsletter:

  • Fame Game (Read)

  • How to show your work (Read)

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Prado
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