NFT Bootcamp: Essentials to Buy, Sell, & Mint NFT's

1. Trailer: So you've heard about entities on the news. You may be seen friends talk about FFTs and they're big wins. And you've probably heard about images that were selling over hundreds of thousands of dollars. Now you're wondering what's going on. Why are these NF keeping so big and so popular? What is a non-fungible tokens? In this course, we're going to learn concepts like ENFPs exist. What is the theory behind NFP is what they are, what it really means to be an NFT. Why ENFPs have value? And finally, how NF keys can work for artists and investors alike. For NFP project, we're going to dive deep down into an NFP, study what it is, why it's performing the way it is, and why the price of it is what it is. Now, I'm making this class for you because I firmly believe in the technologies of NFP. And I think as a creator, There's so many opportunities in NFP is for you to put your work on. And also as an investor, there's so many ways for you to have a better use of your money and to support a good cause. Now, I've been in this space for the last half year. I've been here through the bull market as everything was blowing up, everything meds how everything makes a ton of money and now appears still surviving through the bear market where we've seen. And if keys and cryptocurrency dropped from its all-time high over 50%. So this class, we're going to dive into what an N of t is, the concept and the community behind it. There's lots of talk about and I'm excited to teach you about it. So let's get started. 2. NFT Essentials: Okay, Hello, welcome to the class and we're going to talk about these today. And what is an NFT? Now, of course, you know, an entity is in non-fungible tokens. Now what is a non-fungible tokens? So fungible means that something can be changed and edited. In a way it means that it is non-permanent. So when you say something is non-fungible, that means it is essentially permanently marked as what it is. And the way that non-fungible tokens work is as a token, it represents itself as something on the blockchain. The blockchain is what cryptocurrency is built on. And the technology behind what makes a non-fungible token, what it is is that it builds and right on the blockchain. That's further understanding what a blockchain is. We have to go back in time to how we used to measure things that we own and how we used to measure property. So the master yourself back in the days of the Babylonians, and during the Babylonian days they were trading as they were farming and trading and doing different things, they had to keep track of what they were trading. So these farmers, or whoever it is, has some goods, okay, it wasn't safe harbors. These farmers who had grain would go out and trade someone else. Maybe they got a pot for a certain amount. Now, how did they remember that? They wrote it down on these tablets? These tablets would represent what people bought and it represents a storage of value. Now, if you think about money, essentially what money is, is when you have one thing in each traded for something else, you have this value that's traded and it is being represented through that money, which is fiat currency. So as we're doing this and as we're making trades in different trades, you know, all these things have to be reported. Now with the blockchain, the beauty of that is that every interaction, every movement, every single thing is recorded. And what a non-fungible token is is that it's something that is permanently stamped and mark down on the blockchain so that it can never be changed. Now the beauty of the blockchain is that it is going to be permanent. That's why currencies are able to operate on the blockchain. So how it works is there are so many different computers in the world right now. They're just going off like writing down and recording interactions that are happening in the blockchain. So all of these computers that are going on around in the world are constantly like right now, recording and remembering things that are written down in the blockchain, making it permanent. It's verified through different computers. So there's no way for the blockchain to be hacked or broken because every single one of those computers have to go down at the same time for it to be edited. And essentially it's a way of cross-referencing like how the United States has three different chains of government. Well, the blockchain, it has essentially an unlimited amount of computers and measuring it. And the, and the cap of that is how many computers there are in the world that are doing blockchain stuff. And how all of these things are measured is through this thing called smart contracts. Now, what smart contracts are is actually the thing that is happening, Measuring the transaction that is writing down this transaction onto the blockchain. So behind every n of t is a smart contract that makes all of this happen in real-time. So how does this all tie back into the NFT world? Well, N of t is r this way, right now currently the trend is to buy an F keys and that NFP has a value behind it. So depending on what the NFT is, it is essentially just a token and whatever that token represents, like maybe is entrance into a membership club. Maybe it is a representation that you own, a painting or a so work. Or maybe it is like a token that lets you use a certain software. There's many different reasons to have an NFT. And the current Meta, which is the current market and how things work in the NFT world, especially for a creative, is that the NFP provides provenance of that project. So think about the Mona Lisa, for example. Anyone can go and paint the Mona Lisa, but the original Mona Lisa has the most value. Now there are gonna be other high-quality paintings, and maybe some paintings are probably just as good as the Mona Lisa, maybe even better because it uses new technology to digitally printed or whatnot the provenance behind the Mona Lisa, which is that it was painted by someone famous hundreds of thousands of years ago, maybe not thousands, but hundreds of years ago. And that it had went, and that it went through all this history and that it's displayed at certain places. Now, all of that makes the Mona Lisa very valuable. And if somebody else has gills and coffee's the Mona Lisa, it doesn't have that history behind it. Now, also with luxury brands like Louis Vuitton. I went to the store with my friend the other day and he bought a Louis Vuitton wallet. And then he said, this is probably not that much better than the fake one that I have. The fake one is probably like 80% there. Now, what I told them was at its provenance, the reason why a Louis Vuitton, and while it has so much of value behind it, why people are willing to spend hundreds of dollars on this wallet is because there's a history behind it. There's the manufacturers that they work with. There's a story that they tell. There's this brand new element that goes on along with the brand. And there's so many things that through the past, all through the stories, everything channels down into this one wallet that he's buying right now. And if you went out and bought a fake, maybe it's 80% of the way there with quality for quality is not the sole determination of its value with a blockchain. And how NFP creates value or symbolizes value is that the NFP is permanently marked from when it started and to wear, it trades hands into someone else. Every buddy that has touched it is marked on the blockchain, every interaction and recorded on the blockchain. And when the artists first put it out, that is already on the blockchain so it can't be mistaken. And you always have this authentic piece of art. And so the blockchain makes sure that the NFP is always the real original art that has value behind it. Essentially a stamp of authorization or a token of legitimacy. 3. NFT Glossary *Important*: Alright, so if you've been on Twitter and you've been following NFP stuff, you're probably going to come across a lot of different weird lingo that is only really for the NLP people. And it's like a way of saying that, Hey, you're in the crowd of you understand what I'm saying. So it's very important to know what these words are. So today we're talking about the big glossary of these NOT words. Now let's start off with the first word, which is alpha. Alpha is inside knowledge, well, not technically in technology, but alpha is like the knowledge that is like good knowledge that comes with a lot of examination of studying. And typically it's knowledge that like somebody knows that it's a lot more special than other knowledge that you can find on just any regular website or just any regular account. Usually, it's people within a certain community that knows something is coming to this community within a month or two, that's probably going to bring up the price of it, NFT. So they share that Alpha and everyone wins from it. So they call that Alpha. In other words, early information. An easy way to remember it next is an airdrop. And AirDrop is when some NFP is dropped into your wallet, much like the iPhones AirDrop pitcher. Generally if it's from a project that you like and support, It's a good thing. And sometimes people do get random air drops from random projects that might actually be scammed. So keep an eye out on what kind of air drops you get. They show up in the hidden folder typically. So make sure if you get something in your wallet that it's from a verified project that you like and support so that you minimize your risk of getting schemed. Next isn't allowed list, which is also called whitelist to certain places and allow this is essentially the list that lets you meant a project. So when you're part of an alleles, you're able to, on the first day that a project launches, you can go and mint it, which is doing the official, Hey, this is the project, we're going to admit it and make it an official NFP. So you get to be the person that does that and what are the benefits? What that is that you generally get to get in at a cheaper rate. Now of course, if it's a bad project than that rate is going to dump afterwards. So it's not worth it to mint projects that are bad. But if you're in, allow us or a waitlist for a good project and you get to meet a good project that is for sure the most part, or at least that is for sure the easiest way to get a cheaper price. Which means you go all the way in and invest a lot into a certain project, or maybe not a lot, but a significant amount. More than just one. Apn comes from the fact that board they've got Club is one of the most big and notorious. And F keys in the space. And the fact that you're aching in means you're doing something that's like the board eight guys typing into a project. It's kind of a joke, but it's something that people use a lot on Twitter and the NFT world. Eth, all-time high, which means the all-time high of a project. Meaning that when products have their prices, it typically fluctuate. So there's no price that stays the same the whole way through. So when people talk about the ACTH, they talk about the all-time high of a project. They're all time high of the price of something. Or maybe like how Bitcoin had an all-time high of 60 something thousand last year, but now it's a lot lower. But yeah, 88 is all time high. Bags bags is a funny one because bags essentially means the money bags that you have. So depends how much you put into a project. Like if you spent a few Ethereum on a project and bottling a few LFTs from it. Those are your bag. So you're holding this DAG. Very easy to remember. It's just whatever sack of money that you have or whatever sack of currency your value that you have, burner wallet. So a burner wallet is a wallet that you should be doing most of your activity in. When people talk about burner wallet that you're seeing like bees or the wallets that you use to MIT, to connect to websites to do risky plays in it because you don't want to put your main wallets, which is called your cold wallets, at risk when you like mid something or connect to a random website. Because if you signed the wrong contract, you might lose everything because there's so many scams out there. It's important to have a burner wallet so that you don't lose all your stuff and you minimize as much risk as you can. Like, I know people who have been scammed and lose a lot of their assets, like some people have lost their moon birds, which was like 28th at 1 when 20 eat when 28th was or when it was around three k. So that's like 60 K that they lost in an NFT from a scam. So don't be those people be safe with your wallets and make a burner walling. Blue-chip project. So a blue-chip project is a project that is very much like stocks. Blue-chip means something that is stable and nothing is stable in this space. But for the most part, it has the connotation of a stable project that is for the most part, going to be here in the long run and is going to be a good ROI. Now nothing is guaranteed. But that is the sentiment that this word is describing. So Yacht Club is a blue-chip project, but knowing NFP is still super risky. Cold wallet. So a cold wallet is a wallet that you use to store everything that you have in. Essentially, you don't want to interact with this wallet much, a lot of people use letters. And letters. Are these physical wallets that you can have. You need to plug them in to activate them. So that's a lot more safe because it's physically on you. Versus an online wallet, which is typically your hot wallet that you use to connect on websites and everything else. So the cold wallet is a good wallet to have, or it can also be online, but it's a good wallet to have where you put all your stuff and essentially it's like a vault now, a decentralized autonomous organization. So a dao is basically a group of people who joined together. It's a club. And they decided to be like, hey, we're gonna be our own organization. We're kinda gotta be like a government. So within that dao, everybody is supposed to work together and help figure out the mission of the DAO and what the Dow's objective is, and how to move forward with the Dow. So it's like a group of people together, as the name says, Autonomous Organization. And it's decentralized because it's on the blockchain and using crypto and it's for the most part, are in, on Web three, degenerate. Now there's one of my favorite words because d gen is funny. It's like with NFT culture, people stay up late. They stay up all night watching plays and thinking about went to MIT. And it's actually a real thing because you do have to stay up late sometimes and watch what your minting and also like keep track of prices. So that's what a degenerate is, endogenous short for the word degenerate, which is kind of the joke because you're just wasting all your time doing NFP stuff. So in a way you are degenerate. And I remember the mornings where I've stayed up till 5600 AM just watching prices on certain projects. And then I remember doing by some times where I bought it and then I went out to lunch and the whole time at lunch I was watching the price of that and then a rushed home and sold it off for a quick little profit. So as you're doing these things, essentially you're a digit. So welcome to the NFT world, the list. So sometimes you might hear about projects getting delisted, which means during their process, they get taken off exchanges like OpenCV or it looks where these platforms are for the most part, so post to be de-centralized, but as it is accompany and it is an exchange to help facilitate these transactions, does have the caveat of being able to delist certain projects. So for example, a big project Pell is famous was project go JIRA. And after like a weird scan or something, I think somebody made a meme post about their projects stealing some IP. They got de-listed up of open sea, which is the biggest marketplace right now. So D listing is kind of bad, like sure, it should mean that nothing happened. But D listing can be negative on the way that your project is conceived or perceived. So when projects look like they're doing bad and get the listed, people are going to feel bad about it and it might start spreading negative rumors and whatnot. So be safe. Don't get delisted. Diamond hands. So diamond hands is a funny one. It means you have rock hard diamond hands where you won't be selling whatever you put into your keys like so say you bought a few NFP is from a project. And if you have diamond hands, no matter what the price of that project is, you still have these diamond hands where you won't be selling this project. Now, there's another term for the opposite of paper hands will go into that later. But diamond hands is essentially that your hands are hard. Diamond where you're holding onto your project and not selling it no matter goes up or down. And people like to romanticize being diamond hand, but I think Devin handing is actually not the best. You should definitely sell your project when it is at the top. And then if you like it by back in later. So at least that way you have some profits to work off of doxepin. Do XX ING. So docstring is when somebody is anonymous, but maybe throughout their actions or something, someone else docs them and reuse them to the public. Now, of course, you can also adopt herself by posting photos and whatnot of yourself. And it doesn't necessarily have to be a bad thing. A lot of people in Web three and the crypto seen like to be anonymous though. So Docs and kind of has a bad connotation to it. Like people don't want to be ducts. But knowing me, I'm fully dogs, I'm right in front of the camera right now. Dm, dm is direct message. So people put, and you can demand, and you can DM people on Twitter, Discord. It's just used as a way to tell someone, Hey, I'm going to DMU about something. A Dutch auction, which sometimes is called da, is an oxygen that starts at a certain price. And as the time goes on, L go down in price until eventually it reaches a certain price. Now, there's also a fair Dutch auction as well, which starts at a certain price and then people get to bid on it. And when they win, eventually at the end of this whole ordeal, whatever the lowest price is, the people who want at the top are going to be refunded the difference so that they're not buying up the top. Hence the word fair. The Dutch auction D YOR, which is a funny one because it means you do your own research. Everything in the crypto seen NFP scene should be taken with a grain of salt. No matter how confident somebody sounds, nobody really knows what the future holds or what the future is like. So you have to take it with a grain of salt and do your own research, look at different sources, combine the sources and see what turns out Like, for example, of you listened to an Alpha color, which means a person that has the alpha beforehand, everyone else and calls it so everyone knows about it. You can't just listen to them blindly. Because if you listened to them blindly, you're never going to know if your investment is going to do well or not. They're educated, but they're not as educated in what their future is going to hold. So if you need to do your own research and make plays with high conviction, otherwise you're gonna lose a lot of money. Flip. Flipping as a fun one, when people talk about making money on NFP is essentially they're talking about flipping. Flipping is just like when you flip cars or flip cards are flipped shoes. What it means is you're buying low and selling high. So lot of NFP is, you should buy it when it's at a lower price and you're aiming for it too. As it rises up, you can stay with the crowd as it brings everybody up, like a rising tide lifts all ships or boats. So you want to be with that rise and you can sell it at the top. That's ideally the goal of somebody who is flipping. Flipping entities, buy low sell high floor price. Floor price means the bottom, the floor, essentially the lowest price that you can buy an NFP for. Floor price, for example, is if I want to buy AVI friends right now, um, I was looking at the project of your friends to recently. And currently the floor price for via F2 is 0.458 theorem. Now of course, you can buy other and a piece as well that are more expensive. But the cheapest one you can get to enter into the project is the floor price, which is 0.45 FOMO, fear of missing out, which is the same meaning as the contemporary term that you see in social media a lot. But FOMO is very important in crypto because when a project is blown up, everybody's going to be talking about it and saying like, Well, I've been making so much wind and gains from this project. And for the most part, if you're hearing it from a lot of people already, it's probably too late. And this is when the FOMO hits the hardest when you're seeing everybody on Twitter talk about certain projects. Everyone has their profile photos changed to this project and they're just going crazy. This is when FOMO kicks in and you're like, alright, I gotta buy this. You buy it, and the next thing you know, it drops because that's just what happens like that, is the lifespan of a project. It goes all the way up to the high. A lot of people buy-in and then everyone realized that the price is overvalued so that they start dumping all their LFTs and then the price drops. But fear, uncertainty and doubt. But as a funny one, because Fudd is something bad happens with every project. And since a lot of these projects are dealing with 10 thousand people, like 10 thousand people have NF, these, maybe some people have a few. But let's say they're dealing with 5 thousand people, That's still a lot. And when your projects floor price goes down, some of these people are going to be angry. So they go on this court or they go on Twitter and they start fighting. Which means they're talking about things that they're fearful of, things that are doubtful of in this project and they use feel uncertain about this project, So they start flooding. That's how the word is used. And flooding could be good or bad, like some people might foot and have real evidence of why this project is going down. And some people might just be flooding because their project is temporarily down and they're just like so overly invested that they get emotional and are just going nuts, Jim. So this is a very popular saying. Everybody says that on Twitter, everyone says is on discord is basically good morning. It's a good friendly way for you to stay connected with the community, people who just want you to check in and say hi, essentially. Gmi means it's going to make it. So one nice thing about the community is that everybody essentially is behind this message of where you're gonna make it. So GMI means it's going to make it. Meaning that if we're all in this together, we're all going to make it. Of course it does get dark because sometimes people might be losing out for someone else to gain. And the only way for the whole space to gain is if there is more money being onboarded. So there's a bit of a caveat to gunna make it. But the idea behind it is good. And it means everyone is going to make it h d l, which means hang on for dear life. So when you're buying an NFT and you'll watch this NFT tank. Some people are going to be holding on their life and hoping that this project goes up. It means that no matter what, there's still going to be holding onto this project. And they're just like praying at this point because it's just going down. Lfg means less frequent go. Also, you can substitute the freakin with another F worth that emphasizes idea. Essentially it's a good way to hype someone up to say, yes, you've got this because when someone gets a good win, a good whitelist ban, a good response would be LFG. Let's fricking go. Liquidity. Liquidity is essentially how much money we have ready to buy any thing at that time, to buy anything at a certain time. So think about liquidation sales. When a store is closing their business, they're having a liquidation sale, which means they're selling all their inventory to have cash. And where they have cash, they can start buying things that they need. Or maybe they're just liquidating all into cash so that they can close your store. So having liquid is important because having liquid means having buying power. In buying power means you can get into opportunities or at least change it to fit money. And that way you'll be de-risking and having some money to spend for your life. Minting. Minting means that when you are starting to get into a project or when a project is starting, it needs to be officialized and emitting is that process. Minting says, alright, I'm going to take this contract, I'm going to make sure it's official and then I'm going to have this NFP come out of this whole meeting process. So everyone that has an NFT at 1 that was minted, mooning or mood. So when a project moons, it means this project is getting on a spaceship and flying all the way up to the moon. When somebody says something is mooning, they mean when that project is doing good or when they hope a project moons, they'll say like, oh, I hope so. And so muons, meaning that they are hoping this project just flies up through the moon so that the price is flying up really high. And if a means not financial advice, because when somebody gives financial advice, they could be held accountable by law. So when people are giving all this advice on LFTs and all this, they have to say not financial advice. So for the most part, all of this advice that I'm giving you in this NFT course is not financial advice that you should definitely do your own research. That's why I always mentioned that there are a lot of risks with LFTs and that being your own researcher is the best way to win in this space. And GMI, it means not gonna make it. So usually used as a joke, but it could also be a put down. Sometimes people are going to react negatively to projects and they're going to say, oh, this project's not going to make it. Or if somebody is saying something dumb, they're also gonna be like, oh, this person is not going to make it. And sometimes it could be a job where you BioProject and you sell it for a profit, but it's not at the top of the prophet. So you're going to make a joke and say, amen, I started this. I made three, but I'm not going to make it because I could have sold it at Southern Southern and make Kenny paper hands. So paper Hans means somebody that is willing to get rid of their NFP like right away. So instead of being a diamond hand that's holding on to the NFT like diamonds. These patrons are, when the price drops a little bit, they're nervous. They're like I'm out. So they sell their NFP right away. Because your hands are paper. It's just easier to let go of PFP, which means profile picture. Many people use the term PIFP because it's just so much easier, but essentially it's whatever you're using as your profile picture. Royalties. So every project has royalties. Whenever you sell a NFT, that project gets a bit of the royalties from that. So generally ranges from two to even ten per cent. So as you're flipping NFP is make sure you notice how much royalties that you're going to pay and also how much you have to pay for fees, and also there's gas fees on top. So there's all these different fees that you have to take note of when you're flipping and selling NFT. That way you're always make sure you come up with a profit or at least breakeven a rather poor. So a rub pool is when a project pools all this money together and then suddenly they're like, I'm out and they walk away with all this money. And it's kind of the thing that is a caveat with this space is that it's so unregulated right now, since, of course it is decentralized. These projects market themselves really well, over-promise. And essentially they're scamming people because they make these promises at Grand lavish promises to gather a lot of money behind this project. And since a lot of people are anonymous, they just gathered as money, take it and disappear. So a rub pool is when somebody leaves a project and says, I'm out and not do anything with this project anymore. A slow rug, which is similar to a route poor, but a slow rug is when they are slowly disappearing from the project. It's kinda like when you're dating someone and they're slowly starting to text you Less. Eventually they just stopped texting you completely. But that's how it is. A slow rug, is when a project is slowly becoming a rug. And eventually one of these days they're just gonna be gone. And it's bad because throughout this whole time, they are still making money from royalties and from the initial MIT. And the last word is sweep. Sweeping is sweeping the floor, which means that some people, well, it doesn't have to mean sweeping the floor, but essentially, a sweep is when you buy a ton of NFP is from a project. And typically people tend to sweep the floors because that's the cheapest. So they look at the floor and they're like, alright, five of these entities that are at this price and the next one is significantly more than that. So I'm just going to sweep this floor and raise the floor price. So there are many ideas to sweeping, like some companies can sweep their own floor or whales, which means a person who has a ton of an appease and liquidity, what would just buy this project up because they really believe in it. Okay, so that's it for the glossary. These words will at least put you in an understanding of what the world is talking about. There's definitely a lot more terms that you'll come across. But for the most part, these are the main daily words that you'll see on a daily basis. 4. Case Study: Bored Ape Yacht Club: It'd be a club. Let's talk about border of Yacht Club and do a case study on why it's the most infamous NFT collection out there. I'm sure without a doubt, if you've heard about NOPs, you've heard of board Yacht Club. So let's go and talk about the facts first. The floor price of a board AVR club token right now is 83.75 Ethereum, which is approximately a 159 thousand at the time of this recording, August 20th, 22nd. And like I said, the floor price is controlled by which is the lowest listing price that somebody has it has. And then on the offer right here, there's a collection offer for 788, which means that somebody has put up an offer for 78. If it's open to the whole collection, if somebody wants to sell it for 78 teeth, they're welcome to. We can also see that there were a total of 647 thousand theory and volume traded. So there's a significant amount of trading that's been done with the board AVR club tokens. What is the purpose of a board AVR club token? Because when you buy a NFT you're essentially by the tokens, non-fungible token, but people don't understand what that is. So we're going to dive in deep and really break down this board Yacht Club. Like why it's priced the way it is and why it is so infamous. First part of having a board APR, club token is you get the token. Having a tub getting gives you access to many different things that Yacht Club members have. Now, for example, they were AirDrop, a lot of different things that were worth a lot of money and they had access to an event in NFT NYC. That, amongst a lot of other things, but having that token is what gives you access to all the other stuff that comes with being part of the club member. Now, one of the big things about being a club member is the bragging rights. If you've noticed twitter, you've probably seen a lot of people have their profile picture as an NFC. Now, it does seem kind of silly because some people are represented by a line or a turtle, or is it some weird little silly animal drawing? In some ways, I think it is kinda of a joke. That's a joke on the whole world saying like, hey, we can make this token be worth a lot of money when outside looking in, it's just like this image of something. So it's kind of the ultimate troll and wealth three is the community itself is very big on trolling, on a meme culture, on just like making jokes, like poking fun at people who don't get it. Another perk is admittance into the board. A discord, which being in the Discord is a, if you don't follow discord and you aren't on discord. Discord is a place where people can chat. It's kind of like ALL Instant Messenger. If your gen, Millennials, now we're millennials. If you're a millennial, you've had chatrooms back in the day. Discord is where the internet lives for NFT and gaming. So having access to the board ape discord gives you like firsthand knowledge of what's up and coming in that community. And a lot of people in the board of a community are wealthy and half money. So they potentially might be able to have lot of alpha. And alpha is like the glossary said, alpha is knowledge of what's coming ahead that other people might not know. So being in the board able to score it might give you that alpha. It also might give you connections to other people like networking is huge in the space and being able to connect with other people in this space is very valuable because if you're launching a project and you're connecting with someone because of a community that you're in, you might potentially, both of you might be able to make an amazing project or something big happened together. So being in the word ape ecosystem gives you access to that. Like I just said, community with other board upholders, NF fees like to talk about the community behind why an NFT is worth a lot. But it really is the community that makes up the price of an NFT. Because when an NFP is listed, the lowest price that somebody listed as is the floor price. And if a lot of people, this, the certain entity at a super low price, the price of that NFP is going to go down. It's very much like stocks. Stocks is determined by what the market deems the price of the stock is worth. Now of course, there are many ways to manipulate the floor price of NFP because it's significantly smaller than a stock. And even stocks get manipulated from time to time. Actually, baby all the time. Who knows? So in NFT world, that happens a lot. Sometimes certain prices are made like market-making is the term for it where a group of people say, alright, we're going to keep our token at a certain level. If somebody sells it for under that level, we're going to buy it all up and we're only going to list it at a certain price. Now for example, if for everyone in the community or a large portion of the tokens like say are amongst ten people. And those ten people are like, Hey, if somebody listed under 15 a theorem, we're going to buy it up and we're only going to list our tokens at 15. A theorem or up. And in doing so, that creates the floor price to always be at that level. Now of course, you need significant capital for that. But if you are the founder of a project, submitted their project, you have a lot of money from it, so you can put it back into the project and buy up your own supply. Now there are many ethical reasons on whether to do that or not to do that. We won't discuss that. We're talking about board they've Yacht Club in this video. So another part of the portrayed beyond club token is access to future air drops. Let's talk about the air drops. The air drops are something that gave the port eight Yacht Club members a ton of value because a lot of these air drops were worth a lot of money. Now, the first one that we'll talk about is the mutant ape. Ape airdrop was a vial that they gave out to board AVR club holders originally. When you use that vial with your ape through their website, you got to mint a mutant. Apes are a lot cheaper than the board apes, but you now have this other NFT that gives you access to the Board app ecosystem. So immune apes are able to access in to the discord, in other the perks of being in the board AVR clubs such as the NFT NYC event and also future air drops. Now born a kennel club was another AirDrop that was dropped to board a Yacht Club members, which are these dog companions. There really hasn't been too much clear direction on this NFT collection, but at the time of this recording, it's worth a significant amount of Ethereum as well. Now the next thing that they dropped to their holders with the 8, which is a coin that is used in the a pico system. So they're planning on launching a game or an other side land, which we'll talk about in a second. But they're planning on launching their whole ecosystem. And in that ecosystem is going to be a coin. That is the currency. So if you want to buy something and you're going to have to buy it in a coin. When they launched the other side's land, they made that two have to be bought by a point. But anyways, when they first AirDrop a point to their holders, the 40 yard club holders were getting AirDrop about $75 thousand USD worth of a coin, which a significant amount of money. Now if they held onto that a Point for about two months, it would have actually jumped up to about $20 a coin. At the time that it was dropped, it was like $7 a coin, but a few months later, it tripled about triple and went up to $27. So anyone that held it got to triple their amount of money. Then finally, with the other side land, other side land was AirDrop to eight members. There are certain lands that belonged to all the board members and Newton eight members that are in the legal system. On the other side, It's supposed to be connected to this game that they're building on the metaphors. We don't know too much about it. It's still being in the words, but board members got the perks of having this AirDrop that as well and a combined it of all of these air jobs would have been hundreds of thousands in USD dollar for originally 0.08 if theory of myth for, for apes, which is a huge, significant return on investment. Now, let's talk about some of the celebrity endorsements which have helped bring up the price of the port eight Yacht Club token. So, well, it's speculative, but having popularity does add to the equation of a price for a NFT collection because the currency in this space is attention. So anyways, in the border Yacht Club ecosystem, some of the some of the celebrities that have endorsed or at least been connected to Wi-Fi. Ap is Eminem to perform to add their NFT NYC show just recently, a few months ago. And then there's Jimmy Kimmel who talked about it on his show as well, which brought in a lot of attention to there. If t, because Jimmy Kimmel has huge, huge reach, his audiences massive. So that helped give eyes onto board abiotic club as well. And then snoop Dogg. Snoop Dogg also has his own that he rocks every so often. I think he has it as it's Twitter profile. And he also performed at eight Fest, which was at the NFP NYC event. And I think other people like Stephen Curry also have a board APR club. Just Justin Bieber also has a board AVR clubs. Lot of very famous people have poured aids. And because they have these board, a lot of these news channels cover it. And because board apes are, you know, it's kinda, kinda works in a huge cycle. But because for apes are already worth hundreds of thousands dollars, these celebrities having it kind of shows that they're rich too. Well, they already rich, but it shows that they have some cloud because they have this board eight. And then that feeds back into the board at Beagle system. So it feeds each other. It's a very genius cycle of how to bring up the price of your end if you target. Now, let's talk about some of the investments that were into 48. So boarding golf club got 450 million by A6 z, which is one of the biggest venture capital funds, biggest venture capital funds in the world. And they invested in Yugoslavs, which is the company that founded or apes. And 450 million is not something to joke about. That means 450 million is now into the treasury of board apes. And with 450 million, they're able to assure, keep the price floor at a certain level to innovate and bring more attention to the board API ecosystem and to just create whatever they want. Now essentially have four hundred million, four hundred and fifty million to play with and to keep the valuation of board apes as high as it is. And because it has 450 million in its treasury right now, people know that it's in some ways not going to go down to 0. So it is more of a stable investment that they can rely on. Whereas a lot of other NFP projects would just run out of money and just go down to 0. Now they know that with poor apes, it has this huge sum of money and it's trusted by one of the biggest, biggest venture capital firms in the world of venture capitalists are probably not going to let their projects fail. They're probably going to keep the price floor high as possible by buying into the project. Like I mentioned earlier, where they keep the price floor at a certain level. All of these things in consideration, boarding Yacht Club is valued the way it is because there's so many factors that are driving value or driving attention and driving innovation into the token. So important Yacht Club members who originally admitted for 0.08 theory, you got to benefit from all of this stuff that's happening in the board of ecosystem right now. 5. Current Landscape of NFTs: Okay, so let's talk about where NFP is lit. Now, for the most part, where n, If he's actually live, is on the blockchain, which is made by the smart contract that we just talked about. But for the most part right now, lives on these platforms where people can sell, buy, and trade them. Because these platforms make it so much easier for people to understand and buy these assets. So essentially what it does is bridged the gap between a web 2 and Web 3.02, meaning the current web Internet. Now that we know of by Yahoo, Google, Facebook, corporate versions of companies that are run on the Internet through Web 2 and Web three being a more decentralized internet with companies that are basically made off of its own individual chain of command. And Web three, essentially being its own individual run companies based on different criterias that make up its own centralized government. So big goal of Web 3 is decentralization. And what is decentralization? Decentralization is having companies and organizations be autonomous. What that means is that it does not need to rely on Web 2 roots. It doesn't need rules to have it held together. Instead, it's run by investors, by stakeholders, by its own separate organization, Etsy. So that's like a huge, big thing in Web three is that like us, as human beings can have or own unorganized organization, as in, we can control these entities by ourselves and have our own governance run it. Instead of having government interference or having any other third party interfere and tell us what we should do with our company, essentially not letting anyone else to dictate what our company mission is and what our company does. Now how practical is that it is yet to be determined because we're still at such an early stage of Web 3 and having all of these different things being worked out, the kinks are still very much being worked out. And as an example, there's still a lot of people that are getting scammed on NOTs that don't understand how smart contracts work, don't understand all the things that are going on behind the scenes that they might not be getting what they think they're binding. Now that might sound this encouraging, but the beauty of that is that since we're so early in this space, we have the upper hand, like imagine buying Bitcoin in 2015. We all know what happened with that. So going back to NFP is and where they live, how these a's, they live on a major platform pod, open seat. Now, open C is backed by the blockchain caught Ethereum. Ethereum is a blockchain that's been started a few theorems, but started a few years ago by someone named metallic nutrients. I hope that's how you say his name by metallic future and studying. And most NFP is just seemed to be working on it because the cryptocurrency is working. Why? We'll have to save that for another lecture, because it is, get it. But all you have to know is that open C is essentially the bridge between Web 2 and Web 3 in the NFC world. Now why is open to you important? Because open seat helps facilitate the transactions between different NFT. Now of course, we could have our own private party sales. But with that comes a lot of risks and scams because when you're dealing with people on the Internet, sometimes things can go wrong. Now, open sea comes in and helps validates that something is a legitimate transaction. For example, for example, you've probably heard about boarded Yacht Club, which is the story behind why these ape jpegs sell for hundreds of thousands of dollars. And many times, because these eight images are very popular and go for so much, they tend to be imitated and copied and sometimes even fake. So a lot of times the people would post fakes on line and try to sell them. But because it's validated through open See, you are able to check out there the real collection or not. Essentially open see, helps determine whether beings or legitimate or if they're not legitimate. And to the entity veteran, of course it's very obvious, but to someone That's the layman who is just getting into NFT or someone that's a beginner that's just learning. It could be very confusing because there's so many different types of images and things going on that they don't know exactly what is the real collection. So open sea doing its job, it tells people what is real, what is not, and it helps facilitate a transaction that go as smoothly as possible. Now, sometimes when you're dealing with open See, you do have to pay fees. And if you're doing hundreds of thousands of dollars and trades, maybe the Bs of a couple of percent could be high. So that is something to keep in mind, to have peace of mind. It is good to go through a platform like open seat. Okay, so next we're gonna go through open C. We're going to navigate around the side. I'm going to show you what I know about the site, how to facilitate transactions. And I'm gonna give you a crash course on how to figure out what to do when you're on open seat. 6. Future of NFTs: What is the future of an NFT, like, what does the future of LFTs? So you might be wondering because since it's something that's very risky and it's kinda like just trending right now, there is an interesting concept of the future of LFTs. So right now, the main selling point of an n of t is that it is a non-fungible token that is going to be permanently forever on the blockchain. Which means it's great for art. It's great for representing something. Going to be there permanently. But at the same time, if you're putting money into it, you're not sure if this is just a trend or if it's something that is meant for the long term. Now, the technology for blockchain is for the long-term. But the valuation of it is what is dependent on people, is dependent on emotions. And that could be the risky factor that is potentially not the best. Put your money in for the long term because you don't know exactly how the market is going to react. And because of that, the valuation on some of these things might change drastically in a matter of weeks or even days till some projects that you see that are very popular in one week could actually just dropped the next day or just dropped a moment later just because of the certain tweet or because of any situation that happens within the projects and dramas and controversy. All of this plays a factor into how this project does. But if T itself is a long-term concept, it's the fact that all of this stuff is going to be forever on the blockchain and that it can be verified on the blockchain. So there's many uses of it for technology-wise. Because if you want to have a house being sold, for example, and you are using an NFT as the technology behind it. And your contract is written an NFT and minted in official. Now you know that this document is for sure and verifiably accurate because it's been validated by the many different computers that are putting the blockchain together and making blockchain work. So in that aspect that the future of NFP is pretty solid. In the future of blockchain itself is pretty solid as well. So as entities are building on top of the blockchain, you didn't know that that future is going to go somewhere. Now, the fact that cryptocurrency or bitcoin, when the bull market was going, when everything was active, in theory, $4 thousand. And now during a bear market, when the theorem is at 1 thousand, it's tough to be able to put that much conviction into a project or into a technology because the money can drastically change in a matter of weeks. The picture of that part of it, the money side, the investing side is we're not too sure. So you always got to do your own research and got to make good high conviction plays, or at least make the best reasonable gas or educated guess as you can so that you could say as protected and safe as you can. 7. Importance of Safety: How to be safe in the NFT world. So being safe is actually really important because there are many different schemes that can happen. So you definitely to watch herself because everyone in this space is probably out this game view. That's like the crazy thing is on the Internet. If you post on Twitter about being scammed at losing your entities, There's going to be a ton of people responding. And they're not actually really people that are probably mostly bots. That are you gonna say like, Hey, I know somebody that is able to help get your money back. Dm this person and I don't know ten times this person is going to be some scammer that once certain thing and next thing you know, and lose all this stuff in your wallet. So first off the bat, as you have your wallet, when you create your wallet, There's a seed phrase. Make sure you never ever share that seed phrase. That is how people are going to hack a T-account and take every day. So SegPhrase never shared that as number one, the most important thing. Now number two is to be aware of what people will say. Like when somebody message you and says, Hey, this project is minting, there's only a 24 hour flash sale. You need to get in on it now. Most likely as not true as well. So CT scans are a common thing that happens because most NLP projects have a discord, right? And when you got the Discord, maybe you're new to this board. Like I was at a certain point and I didn't know what was going on discord and a lot of people wouldn't message me. The sad thing is, most of these people are not really here for good. Like they are just cameras on this discord channel. So a lot of times these people would pose as admins or moderators of the channel. And then they would message you and be like, Hey, either a project is minting, now it send you a link, or they would pretend to say like, Hey, there's a flash sale going on for a secret NFP that's related to this project. Give you another link. And if you click on those links, There's many different ways that it could be malicious. You one, pop up with a transaction that says, Hey, you gotta connect your wallet and sign this and that. But when you actually connect your wallet, it steals all your stuff. So that's one scam and then another one that I actually fell for it when it first started in this space was it was a figment page for a project. So I went on the page and I saw that the price of this man was a 0.1. And I didn't even know like what we're really like at that point. So I would go on to there. So I went on that project hoping see page. I looked around and I was like, Oh wow, This is cheaper than the current floor price. So if I missed this, and obviously you got to make money, it goes too good to be true. And for the most part, if something sounds too good to be true, it probably most likely it, especially the NFP space, so emitted it. And once I'm into it, I realized that it was fake. I check the check my wallet right away because after I meant it and I was like, Oh man, I didn't even get in an a T. And then I looked at the URL link and I realized that was from a different website and not the official website. So these things happen all the time that people make these exact copycat website. And you go on, you sign a contract and then you get scammed out of whatever goods that you have. And depending on what you signed, sometimes you can sign away all your theories like sign away the fact that you're able to transfer entities. And then next thing you know, the transfer all of your ENFPs out the clearer your whole wallet. With this. This also segments into a common thing that's happening these days is free minutes where you can go onto an projects website. And then it's like, hey, this is free. All you gotta do is pay for gas, and then you click on it, you sign it. And essentially what you do when you sign it as you give them permission to take whatever they want from this wallet. So instead of getting your NFP, maybe you still get an NFT. Maybe the least happy to do that. But instead of just giving you a bad end if they steal your whole wall and everything in your wallet, essentially draining your wallet. So there's many scams to look out for. These are two of them. And these are very common scams that happened. Anything that involves your seed phrase and anything that involves signing. We have to be careful for. Now this next lesson, I'm going to talk about how to protect yourself from these scams and how to at least take some necessary safety precautions. 8. 3 Ways to Stay Safe in NFTs: Okay. So for the first safety precaution that we're going to take is to have a ledger wallet. Now, what is a letter? A ledger is a wallet that is a physical object versus just an online wallet like you might have for a MetaMask or any of the other ways that you keep your money on like Coinbase for example, having a ledger wallet is one that is physical. So whenever you make a transaction, you need to have this wallet plugin. Now of course it is recoverable if you have all the secrets is itself. But in order for you to access this wallet though, you need to plug it in and then sign whatever contracts that you need. So it has an extra layer of protection so that you don't like go and sign a bunch of malicious contracts and end up getting your wallet drains. And using a ledger wallet is pretty easy and it's going to help you save a lot of money in the long term because there's so many scams and displays, the fact that you have another layer of protection is going to help out so much. I can't stress how important it is to have an extra layer of protection. Like I remember when I was in the NFP space in the beginning and Ethan was like 34. Okay. I lost 0.15 feet, which at the time was $450. It could just go just like that. So be careful, be safe and have a ledger wallet. Now another tool you can use two, is revoked on cash. And this is a good tool because it helps you see what website you're connected to. And when you see what works interconnected to, make sure that these aren't malicious websites. Now sometimes when you sign these contracts to malicious websites, they're not gonna do anything right away. So you don t know that they're going to have you and they're just keeping it connected with your wallet until the day it's right. And when you finally built up a ton of stuff, they strike and take all your stuff on revoked dot catch. You can check what type that you've connected your wallet to. And then you can go in and manually disconnect from all these sites. And finally, I think one of the most important thing is to, is to have a community of people in the NMT space. Now, usually they congregate on Twitter or Discord. And then with these groups you would chat about what's happening, what's new in the NFP spaces. Or they were linked, different links and just disgusting. And when you have this support group and you post a link on that you think might be really good. And a few other people look at it. It's very obvious when something is a scheme and they're going to tell you right away, this is a scheme because there's so many different eyes on there that they're going to look at it and just know right away. And also a lot of times these groups have very highly experienced people in the state. So they're like, Okay, I know exactly what to look for. You See, you see there's a fake URL and they're able to spot a fake NFP project right away. And if I were in part of these groups as I was just starting out, I would have definitely been able to prevent a lot of scams and a lot of bad traits that are made because sometimes you think the project does good, but it's because you only see the Twitter people promoted. And when all these influencers promote one project, it doesn't mean that it's good, it just means that it's getting a lot of marketing. And when a lot of influencers promote one project, it's going to blow up. And some people know about that and they capitalize on that. And these buy-in at the bottom gonna get pumped all the way up. And then they did before. Like it drops because it's eventually going to drop because the only reason that it's pumped all the way up is because so many people are promoting it and there's a tension go into that project. That project has attention, which means in this space, in a keyspace, attention is value. So the fact that we're getting attention and making this product, popular, people are going to fill them out in, meaning that they're having a fear of missing out on this project. Moody are going really high price and so people keep buying, buying, buying, buying and it's just euphoric. But eventually that's going to crash because it's not like the proper evaluation of the project. Joining a group is very important. So these are three ways that you can say safe in your NFP journey, be as safe as possible because this space, you can lose a lot of money really fast. 9. Buying Cryptocurrency: Okay, So this chapter we're talking about buying cryptocurrency, which is the main currency that drives and at peace now the main one that's the most popular with other big projects right now for NFV is a theorem. There is another project or another blockchain called wanna, which is also really popular, but there are some underlying issues with Selena and it hasn't really picked up as much as the theorem has. So for the most part, if theorem is what is driving the NFT marketplaces. So we're going to talk about how to buy Ethereum and perhaps when to buy Ethereum. Now, it's always hard to completely pinpoint when the best time to buy a cryptocurrency is because the market fluctuate. But right now, as of the time that I'm recording this, we are in a deep bear market, which means that the market has dropped significantly and it also might still be dropping. So it's tough to plan around things. But compared to last year's price, we are at a low of over half, half of what was. So actually maybe last year, around this time it was around the same but throughout. But the high of last year of around $4 thousand was a lot higher than where we're at now, which is around 1.8 K per Ethereum. But if you look back at the old days of thorium, it used to be around like, I remember when I first heard about this theorem was like 40 bucks. So it depends, like you never know when a cryptocurrency is going to blow up. So the safest bet actually is $2 cost average into buying your crypto. Which means that if you are set on buying a certain crypto, to buy it over a long expanse of time. And as you do that, you minimize your risk because you're constantly just buying at a small amount, like don't put your whole, entire savings into there. Like say for example, you want to spend $1000 on Ethereum, then you just spent a 100 for the first week and then 200. A 100 for the first week, a 100 for the next week, a 100 for the third week. And ask every time you buy it, the price of Ethereum is either going up or down. But because you're doing it in like these incremental steps, in some ways, diversifying the buy and making your risk significantly lower. Now of course, there are no guarantees that is gonna go up or down. But by doing so, you are minimizing your risk. And if you feel like, it's like cheap and you want to spend a little bit more, that's fine. But as long as you are dollar cost averaging and making it diversified, you are going to minimize a lot of your risks. There are a few popular marketplaces that cell cryptocurrency, the big one that comes to mind is Coinbase. Coinbase has been around for awhile now. It's got a pretty safe history. And it has also a Coinbase Pro, which after you get used to the Coinbase platform, you can move on to point-based Pro. Now I like Coinbase a lot because it's very user intuitive. Like it is kinda like the knack of cryptocurrency buying. So you go on Coinbase, you can look around the site and you can find different crypto is that you want to invest in or shop around. And it just seems a lot more easy to use then some of the other platforms. And once you get used to that and you understand what's going on, like to understand what the market looks like, and you kinda wanna watch it every day. Then you can start moving onto coinbase Pro, which has a significantly cheaper fee, which is why I do all my stuff on Coinbase Pro now, because I'm coinbase, like a fee would be every time you send your crypto, It would cost a dollar plus something else. And that would add up, like if you're just sending four or $5 to buy something, you're still going to have to pay that dollar fee. While on Coinbase probe when you send something, it's only calculated based on a percentage. That percentage is generally a lot, lot lower. So if I were to send the same amount from coinbase Pro versus Coinbase is probably 10% or less of what I would pay on Coinbase. So that's something to keep in mind. But if you're just buying crypto for the first time and you just want something that's easy, intuitive to use so that you can get started. And NFP, Coinbase is the way to go because you can just buy something super easy, upload it to your wallet and then start shopping for NFP or just started minting and doing everything you need on NFP. 10. What is Minting?: Okay, So we're gonna talk about minting and NFT in this lesson. Essentially, minting anonymity is when you make this NOT legitimate. So you have everything off planned out. You have your contract written, you have your NFT artwork to represent this contract, and you are ready to go. Now once something is emitted, it is officially on the blockchain and live for everybody else to see. So the thing with a lot of these projects is that when you want to meet your own project, you don't necessarily have to pay for the mid-price. You can have the contract ready to deploy. And when somebody wants to meet whatever you're publishing, then they can meet and pay the gas themselves. Now gas is the transaction costs that you have to pay all the time for minting. But if you're working with tens of thousands of dollars, it's negligible. Like ERC 721, which is what is popular for collections that are one of one but also tend to k collections and collections with 10 thousand words. But essentially what it's good for is that it's a good contract for minting something that has a lot of differences. Now you can also meant with the ERC 1155, which is another popular one. But that one is for things that have no differentiations. Like if you have an addition piece where it's just one looking thing, like one image that has 30 to 50 or however many pieces that you want to publish them that's used for that one. But if you're doing a one-to-one, or it's something that has its own individual traits and characteristics that definitely look at your C7 21. 11. Buying an NFT: Alright, so you want to buy an NFT. You've heard all about it. You don't know what to do. Like, when should I buy? Where should I buy? How should I buy it? Now, these are totally normal questions. This makes a lot of sense that you don't want to get scammed in the space is space is notorious for that. I've personally lost hundreds of dollars in the beginning From schemes like this is not bad investments. This is just from scams that I wasn't aware of. So it's important to know what you're buying and from where let's get started buying an NFT in the overview of how to buy an NFT. Now, there are a few ways to buy an entity, or at least to acquire an NFT. The first one must obvious and easy way is to go on an NFT marketplace and does buy it from there. Make sure it's a legitimate marketplace like open sea looks rare. X2, Y2, super rare. These are very popular and reputable. And if the marketplaces, so for the most part, when you buy it from these places, less likely to be a scam. Now of course, there are scams on these platforms, people like this space and it's hard to regulate everything since it is decentralized, people do tend to come up with scams really fast and right away. So for example, a common scam on Open see is people would mint fake in FTEs of popular projects. So someone might have a fake board eight pop up and there'll be telling you to buy their FIG board ape. So make sure you're aware of what you're buying. But the first way is essentially that buying on a platform. Now the second way is to MIT an NFT. Now, what is minting and enough t, we're going to have class on that actually. So we're going to have a section on that actually. So I'll go over that more in depth in the future. For this case, minting in NFT is when you make it official. That's like the main thing of it. Essentially though what missing an NFT is, it's making the whole thing like contract verified and being correct and then listed online. But for you where you have to know is that minting in NMT is another way to get an NFT and to maintain and a T. There's a few ways to MIT and then we'll go over that in the future. So then it's like more specific, but essentially admitting it. And if t is the second way that you can get in and if t, and finally, the third way is through trades or private sales. Now these are the most sketchy. This is where I see people get scammed all the time. So if you're taking this class is aimed at more of a beginner to intermediate level. Definitely try to stay away from it as much as you can because you can never know where you're going to get scammed. And if something sounds too good to be true in this entity space, it definitely is too good to be true. Everyone here is sharp. And if you think you are sharper than the next person, most likely they have something on top of you that you don't know about. So I would hate to see anyone lose a ton of money that they like. Money going to the wrong places is the worst for this space. Because as long as we have money coming into the space, it's a good overall gain for everybody. Now when there are things that are taking money away from the space, taking money out of the liquidity pool. That's not very good for this space because the space is dying. Essentially it's its own economy. So let's recap. There are three ways to get an N of t. First one is to buy it from a marketplace. Second one is to meet the NFC, and third one is through trades or private sales. 12. Navigating opensea: Alright, so we're gonna go through open sea, which is the largest platform right now, at least the most popular platform right now for buying, selling and trading and a piece. Well, maybe not trading but buying and selling for sure. This is where it's all done. And the only caveat is there is a bit of a fee to use open sea, but it's where most places most, and if he's get discovered, and this is just where most operations are being done so far. So let's go and look at the website. So this website, this is their current homepage right now. It shows things like the top collections right here. We're in an interesting meta. As he say, metta is like the word to describe what the scene is currently going on. It's like that outside view looking in. So that's kinda like the metal. So the metal of it right now is to do these very random projects like this one, Pablo's, there's like the goblin town stuff that's been blown up recently trying to troll town. So it's just a lot of these ugly and if keys that are just like a troll since the whole market at the time that I'm doing this is kind of going down. So this is like the comic relief guessing, which is why these things are blown up. But there are some very big projects that are still named here, such as boredom Yacht Club, other deed for other side which is part of board, a Yard Club and mute. Okay, bears is pretty popular to crypto punks. This is, I want to be OG brands in a piece. So this is just over the last 24 hours. And we can also look at the last 30 days, which will probably be some of these were popular, more like Fuji ones that have been around for awhile. So like a zoo key, board, a Yacht Club, mutant apes, okay, bears clone x, moon birds. So these are like the big projects. Again, crypto punks, beans, which is part of a zucchini. So some of these classic, like very popular projects are here in the last 30 days. It's good to see that there's still around. So this is the top collection section and then you go down a bit just like trending for different categories. Recently they just added Solana, if he's onto here. But before that, Delano was done on other platforms and it's still heavily traded on other platforms as well. And you can also set up through wallet here, create your collection and MIT stuff on open sea as well. Although most of these projects are done through other types of smart contracts. So these are just other resources. For the most part, you won't be living on their homepage or you won't even really be looking through their page too much. I mean, maybe you'll look at the trending stuff, like what's trending. But for the most part, you will have a project name that you're ready to look up. Like, for example, somebody is on a discord channel that you're active in and they're like, Hey, this project is blowing up. So for example, a project that's been getting really popular lately is we are all going to die. Let's see. So you have to search it up. So maybe this one, okay, so we are going to die and this is their collection. And we'll go through a couple of things on this page. So this is the banner. Mean it's like just for branding purposes. This is their profile photo and this is the person that published it. And a bit more about their info. This is the general stuff. What's really important though, is to see what's over here. So either scan is to look at their contract behind their whole you know, how their whole contract behind the NFP works. I'm not very technical in this, but if you want to dive into it, there are other classes for it. But here you can see what's happening, like how different people are buying it. So like this wallet transferred to another wallet. Okay, so I think this is, so they're doing this thing called burning. So people are sending stuff to this one or this wallet and they just burn it is probably part of their process, the fund that they're having. So yeah, if you click on that, you get to see this, which is like the inner workings of what's going on. This is very technical. My class, we won't be covering this if you want to know more about it. There's a lot of guys who are getting like people were actually deep in this basic and explain every little single part of this. But we're going to move on to the open sea stuff again. Okay, so we're back on the open sea stuff and I'll explain a couple of these numbers as well. So this collection has 6.6666 some items, so it rounds up to 6.7. There's currently 3.1 K owners. What this tells us is that most owners have to NFP. Now that is pretty important because it shows that these people aren't here just to buy one and flip it, but in fact they hold to. So in some ways kinda believe in the collection. And the next thing is the floor price, which is 1.35 if theorem, which is quite a lot actually 1.35 at theorem right now, if the room is around 1.8 k, let's just say two k to k, 1.35, maybe that's probably around 2.4 K US dollars. So it is kind of a pricey, pricey kind of NFP. And here is the total volume, which means they are the volume that's been traded. And here we see it's 9.4 K. So it's 9.4 thousand, actually, a lot for 4 thousand theorems. And I prefer thousand Ethereum times, two per night have to say 18 hours 2020 before and 39,400. Okay. And that's 9.4 times two is 18800 thousand. So this would be around 18.8 million that's been traded. So we can probably even rounded up to 20 million since we did change the numbers up a bit, but around 20 million is what's been traded his entire time through this collection. That's insane, that's huge. So here we can look at the project and some of this stuff too sharp. So let's start with the binary. So by now means you click on this. This is all the stuff that you can buy right now. I think I set mine on price low to high, so it stays like this, but these are other different things that you can look at. So recently listed is when you look at listings that have just been listed. So this is a good way to see, like a good thing that just came out and it's a good price you can buy right away. Then next is recently created. I think there are created at the same time actually don't use this one too much recently sold. I also don't use it too much too. But let's see, recently received ending soon. Okay, cool. So this one is more important. We will skip to ending soon, which is auctions that are ending soon. So this has 11 minutes slept. The options currently at 1.5 Ethereum, which is I think around a little higher than the floor price, which means the lowest price that somebody is selling it for currently. And it typically has been ending around those prices. Okay. Cool. 1.700. Well, most of these CVs are high, but I guess some of them don't have bids. Okay, let's move on. So price low to high is generally what I do the most. Like my strategy is if I want to get in on a project, I just buy the cheapest NFT possible because that gives me access to the project. I don't necessarily have to find the best looking one. No, But some people would do. You can scroll down a bit and see one that you like. Next. You can also look at price high to low. Now, I don't think this is very accurate because some people who can just list for ridiculous prices and they'll end up being on the highest priced one. And then we can go to highest last sale to see at the highest last cell. And it's actually pretty cool because you can see which ones are sold for a lot. Like let's do this one sold for 95. Ethereum. That's like a $108 thousand for this one NFT. That's okay. Actually it has already won 71. At the current price of Ethereum. It's not. We can go down and see most viewed, most favorited and Otis as well. So most fields, Let's see. Alright, interesting. It's just a normal looking well some tentacles on it. There's some demon looking ones too. Cool. And then those favorited. Cool also that one. And it looks like the last bought it at 0.21, which means they made a big fat profit on this if they sold. So let's go and look at the NFP page itself. And there's a couple of things to look at here into note here. So first, make sure that it's the proper collection because there are many fake phishing projects on here and fishing is PHI SH ING. We don't want to fall for any of those. So make sure it's the right collection and then we'll look at the owner. Maybe they have some other stuff. Doesn't really matter, but it's good to see that they're kinda legitimate. And then we can go down and look at this curve price, which is $10 thousand. You can press by now, you've, you buy, there's this thing called gas that you have to pay every theorem interaction that happens, you have to pay some gas. Generally it's pretty minimal. I mean, if you're buying something like this, gas might be. 50 to $100. If you're lucky, maybe like 20 something that I think that's just the old days. But for the most part, $5,200, which is the space that's normal. You can also make an offer here to offer maybe 5.5 or something. I can't see it going down like so much larger because 0.5 feet is actually a lot. So here are some of the properties as well. You can see which properties you like. And then after, you know, like if you like a certain property, you can go back and check it in the other page and filter out through that property. Now, we can look down at this and see what people are offering for this. So someone's offered 0.8, which is 1.5 k. Not that much. He's listing it at ten o'clock, so no close offers yet. And here's how we check. So item activity and like we talked about this stuff being on the blockchain, everything is recorded and memorized and is solidified on the blockchain. So if we look at this, we can see that this sale from this person to this current owner happened five days ago and that it was 4.21 e. And then we can see that that person had also had it transferred from this wallet, which was number 531269, transferred to this wallet, never, 987. So this was the previous owner who sold it to this owner who is selling it right now. Okay. So that's the page for the NFP. There's some other stuff and a similar collection, but we were just talking about trait. So on here, on this left side as well, we can filter out by traits. So like for example, armors. We can look at the different type of armors that we like. You know, like maybe this thing, I don't know what a login forest weight armor is, but maybe it's cool, so okay, here's the armor. That's pretty neat. And we can also look at different other traits as well. So like background, body shape, the hair locks for this person to see what the locks look like. Okay. This person has locks. Maybe I have locked through pH destruction. Sure what this is either a couple of interesting things, mass, okay? We can have ancient device mass. Yeah. So basically you can just filter it out into something that you like. And then we'll also go and look at auctions. So get rid of these filters option. And then while we're on oxygen, we can see what things are on oxygen right now. So it looks like these for okay, well, it looks Hegel, these four are on oxygen right now. And then we finally go down to buy with card. I believe it's being able to buy these things with the credit card. I haven't really used that because I feel like this might have been one a new option or or I'm not too sure, but I am for the most part, buying and doing all of this stuff in a theorem. I think this is a new option because he couldn't do it before. So yeah, Most of my buys on open senior odd done through cryptocurrency as is like the native option for most of NFP trading since even the prices are measured in a cryptocurrency. Yeah. Well, so for the most part, all you need to know about Open, see at least the basics for when you look at a project and look at different things about that project and where to buy it, how to buy it. This is what you do for your QI projects. There are a lot of different intricacies to open sea as well. You can dive down as deep as you want. But for today, I think this will give you a good enough basis to look and understand what is going on with the open seat platform. 13. Buying an NFT on Opensea: Okay, so let's talk about transferring money from one wallet and to another and then buying an N of t. So we are going to first go into my wallet, which if you press a MetaMask, this will prompt. Up. There you go. Okay, so in here it shows that I have $74, right? But I want to buy an entity that's around some $30. So this is not enough. Which means I have to send this money to another wallet or send money from another wallet to this wallet. So in this situation, I'm actually going to send money from another wallet to this wallet and then by an open seat. So let's go on to other browser, which has this wallet on there. So I'm going to press Send. Then I'm gonna go back to this first bullet on better mascot again and then get the address. So the address is on top here. This is the address that you need to send your crypto tube. So I'm going to copy this and then go back to that other one. Again. Matter mask. I'm going to click Send. I'm going to send this one. And my balance right now is 0.088. Maybe I'll do max. I mean, maybe not because I don't really need the max of it. So I'll just send like 0.07, which is 65. So let's 0.075, which is $70 USD, which will be enough because that will give me the the C 73 plus 75. Yeah. Should give me enough to buy that. 50. Yeah. Should be should be enough for us. So I will do that. Okay, back to here. Center this wallet and the ether, 0.075. Then I'm going to press next case. So the gas fee is around 0.29, which is $0.29 US, which is not bad at all. So I'm going to send it. And once you confirm it, It's going to say pending because it does take some time for these transactions to go through because you have to send the gas and the gas of this thing and then it gets verified certain times between different blockchains. So you can also pay more gas to make it faster. But in our case, I'm just going to stick with some cheap so then I can get it through that way. I can save as much money as I can. We're still waiting here. Okay. So it just sent and we have sent our 70-something dollars to the other wallet. Great. So now we can check that we have the money in here, a $144. Now, what I want to buy today is this NFP gossamer seed. So let's go and check the collection. So this is gossamer seed is chloroplasts is 0.138. They're all on reviewed yet, so there's no reason to buy something that is expensive. So I'm just going to buy the cheapest one available, which is 32145, who might not have enough money. Let's see. So here it is. I want to click Buy Now, super-simple. And I understand that this data yada, okay, so checkout, confirming my purchase. And then it's going to prompt up this MetaMask thing, which will say the gas fee is $3 something and then the total is 128 and we do have enough. So I'm gonna click confirm and your purchase is processing. So just take some time sometimes, but eventually something's gonna pop up and say, Hey, you bought this. So let's wait for it. And again, this is just like when you were sending money, it does take some time for it to go through. You could speed it up by paying more gaps. But since we want to minimize as much gas as we can, then we're just using the cheapest gas available. Or sometimes it's not even the cheapest gas, but it's just whatever they recommend, which is generally not too bad. You can even lower your gas to and then pay even less. But sometimes that will be really slow or sometimes it's just weird and doesn't even go through. So I would be worried that I would try not to be cheap on this. So here it is. Your purchases complete. So we just bought this $437. Now, I'm the proud owner of a gossamer seed and I want 84 and f t. And as we can see here, this is like the offers that it has and this is now owned by me. 14. Checking for Fraud (Watch before buying!): Let's talk about suspicious looking accounts. So that way we don't fall for those schemes. Now, let's start by saying, Okay, I'm interested in this piece. And this is the current price, pretty low. And what I'm going to do is to look at the person that I'm buying from because you don't want to buy from person who might have a suspicious account. And if they do have a suspicious account, then it might mean your NFT gets flagged. And if it gets flagged, then you won't be able to sell it as easily on open See. Now you can still sell it and other platforms, but open C is the main platform for entities right now. So you might not get as much attention. If you have a board ape or something, something really popular, then you're probably still going to get attention. But by not being able to sell unopened, see, you won't have as many eyes on it. So as we're looking, we're going to look at the person who just got it and the person who is selling it to us. So we're looking at the owner, this person. Then we're going to look and see when they receive this NFT. This looks like a day ago. A day ago seems like Okay, why are they selling this right away? They bought it for 0.1476 and they're selling it for 0.174. Okay, a little bit of a game. That's not too bad. Let's see, let's see what's happening here at this be 0, f, 08. So we are looking at their wallet. Let's see, That's right. Okay, cool. Yeah, so we're looking at their wallet and then we see they have other things for sale as well. There's this one. And what we're going to do while we're looking through these items is to see whether or not it's listed way below the floor. So the floor of this is 0.04 and that one is listed at 0.038. So it's a little cheaper than the floor. About 0.02 cheaper, which at the time of this recording is about $30. Because E is at 1.5 K for e. So it is a bit less than the floor, which $30 out of a $60 each is a lot. It's 30% of the price has gone to the next one they have for sale. Omega Kong. This one is not for sale actually. But let's see when they got it. They got it 14 minutes ago. And before that actually before that, it was a offer. Okay. They offered this person a day ago and this person accepted. Okay. So they accepted that offer. Alright. But they just got it 40 minutes ago. Okay. So they also receive this NFT today. No big red flags there. But interesting how they got a lot of NFP is today. So this one was transferred to them 11 days ago. Okay. Nothing too suspicious. Let's see what their listing at here. They have it listed at 0.10.018, which is $28. On Open see, the floor price is 0.020.018 is 0.002 of a difference. Not too much. But looking at the floor here, you can see there is a big difference. So this person is already under cutting this, and this person is seriously undercutting this person. You can see there's kind of a wall of 0.05 on the floor. So this is probably the solid floor and that anything under that undercutting. Okay. We're seeing this one's undercutting, which is to me suspicious because why are they so desperate to get e? Now we'll look at, we'll close this and then we'll look at the next thing they have, which is also on sale for $0.008413. Let's see what this floor is under 0.01. So okay, so as we see in here, there is also a bit of a big discrepancy. So the floor is 0.012. And then there's a bit of a war at 0.02. And it seems like it's not too far until you get to the 0.05 range. But anyways, the main area is around these few this is like the main floor. And now what you're looking at is two people undercutting, which is okay, they're trying to make quick sales. And then one person seriously undercutting this person. Again, this person is listed really low. And that's all the MFT is that they're selling. Okay. Yeah, and that's all the entities that they're selling. So we noticed that they are listing a few LFTs for really cheap compared to the rest of the floor. Now, we don't know why this person is wanting to sell their self so much. But it does raise some suspicions. Now, let's check some of their other items as well. So this one actually it was reported for suspicious activity. Okay. So that's kind of suspicious. Let's go down and take a look. So apparently this wallet transferred it to this wallet that we're looking at. And then the suspicious wallet was this forfend wallet that minted it. So this wallet minted it and transferred it to this BCA wallet right here, which transferred it back to the original person that minted it. Then that person transferred it to 06073, and then that person that sold it to the account that we're thinking of buying from. Now this account really doesn't have much history. Let's see what this account is. The one that's sold it to the person we're looking to buy from. This page is gone. It looks like OpenCV deleted this page. So that's very interesting. Six days ago, they sold it to this page. So let's see what this floor was about six days ago. But if it's the same than 0.033 in this floor is 0.380.05 cheaper than the floor, which is around $60 or more, actually, like $70. This is our mental math. So sorry if it's bit off, but like $70 cheaper, which is not a small amount of money. So it seems like they sold it or transferred it and then sold it to this account they were buying from. Now that all looks pretty legit, but maybe they're trying to cover their tracks. So this account was banned. And let's go and see again from our friend here that we're trying to buy from. If they've been buying, LFTs, are getting them transferred to for cheap. So Marnie this to them a day ago, 0.1476. Now, sister's floor is 0.17.14 is 0.03 cheaper than the floor. So that's kind of a significant undercut too. So let's take a look at Marnie. I see what their account is doing. Okay. Martin, he's not doing anything too suspicious. It looks like they still have some of their big entities, which is great. So nothing suspicious. And Marnie, this seems like an okay, but wonder why they sold it for so cheap. Now let's go back to another one up there. Ftes, garage, XYZ genesis. So it looks like they got sold this item two days ago for 0 for now the floor for this is 0.33. Why would that person self to this person for so cheap, that sounds kind of suspicious. And so that this wallet, this while it's still has some stuff too interesting. But it looks like it's nothing really special. Just a lot of myths which could probably be free degenerates, which are not worth much. And then a bunch of these that they bought for 0.07. Okay, so they swept a bunch of this, this a couple of $100 worth. So this is, uh, this is kind of like a vaulted account and it's joined around something December, so pretty cheap. Now let's see what else they have. Crypto boy one. And that one, they got sold seven days ago, which is relatively recent. For the crypto boy, one's floor is 0.04 and the transfer is at 0.0321. Okay, Interesting. Let's look at this wallet too. That's also a great deal. Maybe this person is great at scoring deals and flipping them. So they did some these they transfer a lot of stuff out recently. Okay. Not too much, not too much activity. It looks like this address, MTD it PAC. Yep. And then they listed it in, then they took in a W wrapped each offer from our friend here. And then our friend is listing it now. Okay. So that doesn't show much suspicion and it actually shows that they, they did an offer and got the item for a good price. So with all these evidence, we really don't have a conclusive answer. It does have some parts that looks suspicious and some parts that didn't look suspicious. The lesson that I want you to take away from here is that there are many ways to examine an account. And if a few of the things that we looked at that were suspicious added up, then it's probably a pretty suspicious account to buy from. You don't want to buy from accounts like that. Now, there are other things that we looked at that seems like good traits and good possible traits like accepting a wrapped eith offer, then this is a kind of a good sign that it's an active trading account. So I hope you have some takeaways from how to examine a count, and I'll see you in the next video. 15. Mint from Contract (Advanced): Okay, so we're going to talk about minting from the contract now, which is a safer way to do it. So let's MIT from the contract. So here we have Dickey dwarves, which is just a random project. I have no affiliation with them. I just heard about them. And I heard they were doing a free man, which means all the tokens are 0. So all you have to pay as gas. So I'm just going to show how to MIT from the contract since it's a lot safer to do. And it's just something you should know because you want to prevent scams as much as possible. So here we have the open sea page, which is the home for digging dwarves, which is this collection here. Looks like there are these warriors who have cute little helmets. I'm guessing Dickey is short for Richard. So it's just like knights named Richard wearing helmets. Okay, cool. So I mean, we could also look at some more about it. But this guy has tentacles. This guy's got like a beaded looking like a sphere. This guy has got a sphere or a sphere. This guy's got a biking gloves. They're pretty cute looking guys. Oh, this guy's got like an alien ted, so that's pretty cool. Alright, so with this, we want to go on there either scan page. So we've got the ether scan page and this is where you can meet from the contract. So once we're on this page, we could skip all this information. I do know that it is kinda crazy, right? You look at it and you're like, Oh man, what is even going on? But seems like most people here are minting three or four. Let's see, let's see what was going on. So this address has to or is this one each? It might be just one each. So yeah, okay, let's just try minting a few and see what happens. But alright, so once we go on here, we're going to go onto their contract. And then on their contract is this is their contract. Dickey doors, year C7, 21 a and all their other stuff that we don't really need to care about it because we're just meeting. So after you click a contract, you click on write contract. And then from this part, you have to first press on Connect web three. So this way it connects your wallet and I'm going to connect to my MetaMask. Okay. Just got to say, Okay. And it's connected. It's probably because I've already connected to the site. But if you're not already connected, a box is going to pop up on the right-hand side. And you have to do is sign. I say, okay, I'm connecting. And then from here you click on MIT. And then since this is a free minutes, I'm just going to put on zeros. 0 is what you are going to pay. And down here is the count, like how many you want to meet. So in this case, it's put in three and see what we did. Okay. In three. Okay. So anyways, click confirm that you can estimate gas fees and it estimates of 183. So basically, when it gives you a crazy number like this, it means you don't have enough for gas. So let's see what I have on my MetaMask. I'm a metal mask. Okay, Let's just reject this on my mask. I have $81. So wondering why it says they don't have gas phase. So the reason for that is probably because I put a three. So let's put it in one and see what happens. Here we go. Okay. So with one, the estimate for gas fees is only for 30. So I guess it's because you are unable to MIT so much. It actually gives you a crazy number that just makes it impossible for you to meet with this one. I'm just going to image one. And the gas fee is $4.30, which is at this current moment is 0.0085513 theorem. So click confirm, and then I can reveal my transaction. And this is the transaction that is happening as you're sending over your contract or TX and making all of this happened. So it's pending, take some time for these transactions to happen, but you could pay to speed it up. Don't have to, for this case, Go to speed it up because there's definitely no war, gas war going on or anything where sometimes a lot of people are meeting the same project at the same time. And there's just so many transactions going on, on Ethereum that there's a gas war because people have to pay more and gas so that their transaction is pushed to the top of the cube. And then by doing so, you can potentially beat someone else to get into MIT. Because if a project has a limited supply and people are making it so fast, potentially might not be able to meet what you want appears the transaction. And it's kind of slow in the market right now. Refreshed it, and it shows that it's success. So I have my ticket worth now. If we go and open sea, we can actually check. So as I'm on open C and I can check and see, this is my ticket work. Cool. So he's got that transparent sphere and he's got a big mustache and some star for eyes. Cool. It's a cool little guy. Great. So this costed for some dollars. So let's see if he does good for me. And that is how you meant from the contract. This is the safest way for you to me because you're not interacting with any site. You're not connecting to a random site. Where if you sign something on a random site, then you potentially might be hacked. Like your wallet might be open to whatever they ask on this random sites contract or sometimes you signed it, say yes, meaning yes to them going in your wallet and transfer all your stuff out. Like doing it on ether scan, which is a trusted site. You're able to bypass all of that and have a safe transaction. 16. Selling a NFT: I'm going to show you how to sell an NFT. So on the open sea homepage, we're going to navigate to your profile, which is on the top right. And then you click on Profile. And then from here you're going to look at the N of t that you want to sell. So for my example here, I'm going to sell this one. We all survived. And I got it for around 0.039 Ethereum. And I'm going to check the price because when you listen item, you wanted to check the price of the floor. So right now the floor price, which means the lowest listed one, or sometimes it's kinda slow as you can see here. But essentially it means the lowest listed price of one of these NOPs is this. So next to it is also the best offer. So if you are looking at prices that people are offering for these entities, these seem to be the lowest one. So we're going to look at floor price and we noticed the floor price is 0.04. That means we should essentially price or NFP as 0.04. So I'm gonna go back to mine, which is this one, and I'm going to sell it. I also look at traits too, just to see I don't have a super rare trade or anything crazy. And if I don't and given I don't, then I would just sell it for the floor price That way you know that it moves fast. Otherwise, if you don't sell it at a lower price, It's probably going to last longer. If you sell cell when it is low, like this, sell it at the floor price That way you can just get rid of it and get rid of it as fast as you want. So we're going to change the duration as well to three days. And I will make sure it's three days and then a press complete listing. Then it's going to pop up waiting for an approval, it's going to ask for a MetaMask approval. So I'm going to prove this $2 transaction. So after you confirm there's another box that pops up, press the arrow, and then you can press sign, and this will confirm your listing. 17. NFTs for Creators: Alright, let's get to talking about n of t is for creatives and artists. So with the NFC technology, it's actually one of the most important things for creatives and artists. Why? Because it provides a way to have decentralized communication with your audience, with your supporters. What I mean by that is that because you're doing everything through n of t. So which is to the cryptocurrency seem you could have everything, all your transactions are your funding done through you to your supporters, like nothing in-between. Whereas before there would be a lot of barriers between you and the like. You ask the creator and the people who are supporting you, whether it's through sites that you have to work through, through centralized banks that you're working through through like maybe Kickstarter or a GoFundMe, all of these things like take up stuff in the process. Like it could be fees, it could be overhead that they definitely have to pay them, paying their programmers to facilitate this platform for you to use. The fact that you're able to bypass all of that, or at least lower it down a lot, skip through a lot of steps, helps make it a lot more fluid of a transaction between you as the creator and the supporters. So the first most important thing that I want to talk about is funding. So as a creative, as an artist, as a programmer, like a game developer, all of this, these projects need funding and sometimes it's very hard to get this funding if you don't have the audience that you're trying to reach that is able to get their money to you in some ways. But through NFP is the beauty of it, is that as you issue an NFT out to these people who are funding you from the beginning, you have this like protocol that guarantees them that they have this fractionalized token or they have this token that represents their support to your cost. So people, for example, have been investing in certain games like game developers. And when they buy those N of t is these game developers are able to make them more of their game. And as a reward for that, they issue the supporters and NFP. Maybe it's a image of a character from a game. Maybe it's image of a background or a land from the game depends on what it is. But there could be anything for the most part, since LFTs is just whatever the code is and it's represented through an image. So technically, the image is not the star of the show, even though our news and other platforms, it seems like the image is the star of the show. While technically the important thing is the smart contract behind it that gave you the non-fungible token in the first place because this is where all the value lies. You can't just buy, you can't just use an image of something to redeem a perk. Now as an artist, being able to have your LFTs be sold and validated through the blockchain is important because people who want to make sure they have the proper piece from you. Now able to trace it all the way back, and is able to sell this piece of art with provenance, which is the keyword in arts in our dealings. Having the provenance that you are the creator of your art and that maybe went through hands such as big founders are big art collectors, are big art galleries and eventually ended up in your hands. So all of that adds to the value of the art. And also the current part of having an entity collection is that it helps build communities. As we've seen in Twitter throughout the last year, year-and-a-half, as in a thes exploded, there has been a trend of using profile pictures to represent which part of the community that you're in. And a lot of NFP communities have these profile pictures that users would use to represent their online identity. For example, there's board eight, yeah, there's doodles, there's a zucchinis, some really big projects that have these profile photos that people pay tens of thousands of dollars for to make as their profile picture so that they can represent this group that they belong. And there's many perks of being part of community. Sometimes the developers of that community do an airdrop, which is much like the apple term, leaving something to their supporters, are dropping something to their supporters. And sometimes these air drops could be things that are worth tens of thousands of dollars as well depending on what project you're supporting and what AirDrop say do. Now there are a lot of intricacies that go into an airdrop. For example, if this company is just putting out things that have no value, then that's probably going to dilute the brand. But if this company is putting out very valuable things that can AirDrop that ties to their newest game or to their newest development then yes, that's going to be worth something. So, so all of these entities tie back into the organization that is running it, and it helps neck the whole community to that organization. And lastly, a huge perk of it too is the decentralized aspects of it. Now you're able to create this whole ecosystem that doesn't have to belong in any platform. Like you don't have to go through GoFundMe to channel all your money into From supports and then take it out. Or you don't have to go through Kickstarter, which you don't get your money until it's fully funded. And who knows if it's going to be fully funded or not? Like if you issue NFT, some projects don't even sell out. Usually those are not the very successful projects. Are there, maybe over promising and under delivering. So not all projects are honest, but that is the caveat of having decentralized exchanges. Essentially, we're still in the wild, wild west of NFP and Web 3. But that is one of the perks as well, is that the fact that it is so new and that there's not too many written laws and code of ethics means that there is still a lot of space to innovate, grow, and make your impact on the scene. And as an artist, you have a lot of opportunity to make NOPs be the most powerful experience to you as possible. I want to say artists, creators in general, like programmers, creators, photographers, anyone that is creating something that wants to be represented with an NFT non-fungible tokens. 18. Investing in NFT's: Okay, now let's talk about NFP is as an investor, as you've probably heard of T's over the last year have exploded while people are selling and a piece for tens of thousands of dollars, maybe even hundreds of thousands of dollars. And you're left wondering why? Yes, I was also wondering why too. But NFP is, as IT investment is a wonderful opportunity because it gives you a position to be able to support some of your favorite organizations or people that you believe it. So let's talk about some of the biggest parts of investing in NFP. Now, the biggest, biggest one, the first one that comes to mind is that there is potential for growth. There's so much potential for growth in the NFP space, which is in the cryptocurrency space. As crypto grows and as D, centralized finance grows, all of these things could help contribute to NFP has grown. Now of course, every individual NFT has its own set of criteria that determine whether it grows or not. So we also have to look at the project, but the whole space as a whole can grow as cryptocurrency and as Web 3 developed. And as an example of how certain NFP grow, we can look at board a Yacht Club which started at around 200 something dollars when it first minted. And as it's delivered value to its early investors on and on throughout the years. This N of t is now worth hundreds of thousands of dollars. And that is based on a variety of factors such as people who want to join this club of exclusive holders. Now, people who believe in this project that there'll be bringing in new developments and people who want to invest in it because they see a bright future in this company. There are a huge, huge, huge pool of reasons on why people believe in certain NFP and when people believe in certain entities that have so much market traction driving into this one NFT that causes the price to go up. So if you get in early on a project and you have high conviction on it and you know, their team was going to do good. It seems to be a highly likely chance that this project is going to do well. These other people that aren't in it yet, we'll start valuing this brand as being a lot more worth it then when you got it for us. So eventually as that happens, the price of this band is gonna go much higher and your NFP is going to be worth a lot more. And the next, as an investor, you have access to all this exclusive content and groups and communities to be part of. Say, for example, if you are in board ABF club at the beginning, you would have had access to scene behind the scenes of how they grew their company so big. And I know I use Board, they've got clubs so much is because it is the biggest project outright now that has gotten the most gains. We can look at even a smaller example, such as V France, which was started by Gary V. Intercept, a huge social media person entrepreneur. And he started his v friends collection to be something like Disney, where in 2030 years or so, he wants to have cartoons and videos and YouTube stuff that builds on the brand, but different started off very humbly as well. It was around 0.5 or one Ethereum. I'm not too sure, but it was definitely one Ethereum at the top. And it wasn't super expensive when it first came out relative to what it is now. It's sitting at around six or seven Ethereum and 670 theory and translate it into dollars is around, is around 12 to 18 thousand, depending on when you look at a theory and prices right now, if you're sitting at around 1.8 K per coin, whereas this time last year, I think, goes around three K, 3.5 K per coin. So it really depends on it really fluctuate. And one thing too is that if fees are super risky, so that's also another caveat of it. High risk, high reward. But the most safe way to look at it is if you are buying this NFT because you support the project and the people, and you've done your research and understand that this pupil is going to deliver, that it might be more of a safe bet. Now, LFTs are also very good for you to help invest in your favorite artists. Because with NFT, you have this piece that is a guaranteed piece from assert artists, and it's all backed and validated through the blockchain. For example, you want to buy a piece from a huge artists, the people who has sold arts that are hundreds of billions of dollars. And what anyone else can just go and copy that image and post it up online. The fact that you have a piece that is guaranteed by this artist makes it worth so much more. And it's, since you're buying directly from this artist, you might even have a chance to connect with them and to understand their whole process behind it and be friends with them. This is like just builds more of an intimate connection. And since the space is still so new, everyone in this space is connected to each other. You get in early on an artist that's up and coming and you really believe their art is going to be good than it is a rare opportunity that you get to like connect with this artist's right before they blow up. And you're one of their early, early supporters. Which means if you're an early supporter of Andy Warhol, for example, you're probably going to have some of his original pieces that are worth a lot of money. Now, also as another part on investing in N of t is that you now have this piece, this token that symbolizes you as a high-class person or whatever you want to represent. Essentially, it's like having a Lamborghini in your parking lot, Excel. Now, it's having a digital wallet to show up. What kind of group and community you belong in. Say for example, anyone that has a board ape and is on Twitter using their board eight, which Twitter recently recognized that they are the platform of Web three. So they introduced a thing called verifying your entities. So people could actually have this hexagon profile photo that verifies that they own a certain n of t is, and if they own a board, ape NFT, it kinda shows that they have money, like they are able to spend $250 thousand on this board eight and a P to represent that they are part of that community. So if you buy from certain artists and you have these photos, are these NFP that are very well-respected, having debt in your wallet and people seeing that in your wallet, because wallets are open to the public these days, since it is off in the blockchain, your wallet is public and shows that you have so people can see it. See all your assets. It'd be like, Wow, this person is actually a very big player in the NFL PC. And that helps you signify which groups you belong to and that maybe you have skin in the game thing. So while NFP is, are still very risky to invest in, it does have a lot of growth opportunities since it is such a new space right now. 19. Should I invest in NFT Art?: Should I buy NFC art? Well, this is a common question because we see the narrative of NFP is in media. It's for the most part, always art, right? Like, let's take an image of a board. Ape sells for hundreds, thousands. It's image of doodles selling for a ton. I don't even know what doodles that it's cool cat selling for something. It's all this kind of ridiculous art. Well, the thing is, that's kind of a joke. So when people on the outside not knowing what NFP is, they automatically assume that people are just buying this image. Now there are artists and we'll get to that in a second. But for the most part, the main big players in NFP is people aren't buying the art. You're buying the token behind it, which is non-fungible token if you were buying this token. So when a lot of people say that you can right-click save an image, that's a complete fallacy because that is not the token. The token is the code or the contract that is behind the NFT that you have. And all of that is only referencing this art. So the art that you see on OpenCV, or it looks rare any marketplace that you're seeing, this art is only simply a reflection of what is representing this code that you're buying, this token that you're buying. So what you're buying and NFT, you're not buying an image, you're not buying art to bind the token. And that token has a lot of value to it depending on what projects you buy into. So certain projects, he token gives you access to private discord channels where everyone is like a big player and they make smart moves. Some of those channels are called alpha channels are alpha groups and there are alpha passes that help you get access to those channels. And then there are other if he's that let you have access to other things like air drops which gives you a ton of different parks, like maybe some air drops will be a new NFT. Now, depending on whether that project is in high demand or not, a new NFP might be helpful, might not be. But for example, we've seen recent NFP Projects drop and have a lot of traction come in. And then with that traction They're like, Okay, we're going to use this traction and also dropped another NFP collection is AirDrop tour holders. So everybody that has that NLP gets airdrop, this new other NFP that they got to sell. So for example, there was goblin town recently, which went all the way up to, I think like eight or 98 theorem. And at that point they're like, Okay, we're going to AirDrop everybody a burger. So the AirDrop to everybody a new NFT and that NFP was worth about one Ethereum. So in total, everybody that held on all the way there had this burger that was worth and a theory on that they sold and gotten theorem for it off by just holding onto the original NFT. So that's some of the perks behind having an a T. Now of course there is the other side of N of t, which is artists side supporting artists like people who has made hundreds of millions of dollars and drift through shoots or something like a photographer. So that side, FTEs and buying that side of art is showing the provenance behind the art. So a lot of times in the past art we get lost or duplicated and nobody would really know which is the original piece or if the artists actually is the one that made this piece that it was claimed that it was made from. But now that we have blockchain technology, this technology is able to track all the history of this single piece. So if somebody says this is an original people from ten years ago, you can look into the blockchain and see where it came from. If it came from his wallet or whatever addresses, then yes, that's correct. But if it doesn't, then it's a fake piece. So buying NFP art support the artists is good in the way that you're able to tell where this artists from. Now, art is very subjective. There are many different ways to do the evaluation for different art pieces. So it's very hard to say whether something is a good investment or not. But what I can say is that certain art pieces from certain artists are very well-respected. And if you buy from these respective artists, then you should generally have an idea of how much their artworks go for, what type of pieces of theirs go for certain prices, and how those prices are evaluated. Now of course, it's not always easy, but it's important that you have an understanding of what makes this artist stand out and why people are buying some of their projects. So what comes to mind is drifting shoots. And one of his famous projects is where my vans go. And basically he climbs up buildings and he shoots photos of his veins. And they're like these amazing photos from crazy places that he's climbing up. So he's known for that. And most of his most expensive pieces or something like that because of that reflects the story of how he is a veteran and this was his way of overcoming his mental health struggles. Now, if he starts doing food photography, some of those photos might not be as expensive as his or my vans go collection. So when you're supporting and buying an artist's work, you have to understand what you're buying into. So happy she's teddy bears to, for example, that's just totally offers brand and is not gonna be worth as much as his main collections. So do your research. Make sure you understand the artists and understand why. And then in that way you can solidify or at least be more secure in your investment. But ultimately, NFC art is still very subjective and still very new. To do your own research, look into different aspects of what creates value for different types of artwork, and then make your judgment on that. 20. Class Project: NFT Research: I have this worksheet here. This is the NFP research worksheet. Now, let's get started. Okay, So this project we're going to do, for example, V friends. And be friends, is this project from Gary vein or Chuck, who is a serial entrepreneur. So we're gonna go on to the attributes of the project. We're going to start listing things that are attributes of the project that might help it later, help determine the price of it and whether it's worth this price or not. Now of course, we, while we're doing our own research, it might not always be completely accurate and it's tough to be able to predict what prices of things are going to be like in the future. So we tried to make our most educated guess. So, alright, we'll start with attributes. And attributes is founded by Gary V. Intercept. He does have a proven record of doing a lot of projects and a lot of those projects have been going well for, you know, like Web 2, like real life stuff. So he does have that going for him. And another part of V friends is that V friends. And if t holders get to go to V times, I believe for like three or four years. So let's just say go to V. Khan for three years, which is a event thing that Gary Vee host derivation Chuck Close, I believe every year and they tickets or maybe thousands of dollars or $1000. I'm not sure, but it's probably at least right off the bat, you'll have a couple of thousands of dollars worth in tickets in utility. So that's one thing going for it. And then previously, since this already happened, he had also released another project called V friends too, which is a continuation of this before into one project. So let's just add reference to AirDrop, which meant that everybody who was part of this V friends community the beginning got a V friends to. Now, this may or may not have helped the project. Now, if you're trying to get into it now. But it is something to keep in mind. And v friends too, is currently going for around 0.5 if theorem, which is roughly a thousand dollars. So that's still a lot of money when it first came out. There'll be friends too, was around a 10k. That was like two k. So something to keep in mind. And also, Gary V is connected to a lot of venture capitalists. Venture capitalists who have a lot of money and a lot of these projects, they need money to be able to sustain themselves. So having venture capital, friends who can help fund this project is going to help continue to raise the price. This price that we're looking at. If there is people buying it, for the most part, it's never going to go down to 0 because these people have agreed that they're going to keep the price at a certain point. So there are just going to hold it and half the supply of cells be lower, like very low where the floor of it would essentially be like at a higher price. So it's good to have venture capital or friends and connections because Gary Vee can maintain that price point for his holders. We can also go on the website just to take a closer look at what's going on. So I'm just going to search out V friends and a CV friends.com. As you can see, I've been looking at V friends before. So V friends, Welcome to be friends. Here's their site. I don't want to connect my wallet right now. And also when you do go inside, so always just connect your wallet. Sometimes some size could be scans and it could distill your entire wallet. So V friends has a couple of things going on for its page. Like right here, there's the V friends blog. And on the blog it gives you a bunch of information. Okay, So V friends Uno cards, which was released as well to his friends, to holders when they minted. Here's a V friends lineup, I think get V Khan and rarity breakdown of the friends like different NOPs have different remedies and some people pay a lot more for very rand or for very rare. And if P, So like they had this black cat one for a few friends as worth significantly higher than the other V friends. So this is their blog research project. Make sure you go onto their blog and see what's going on with it. Here's more of the blog and some frequently asked questions. Yes, Where does v friends? Why NFP? What is V. Khan? Okay, so what is special about this NFP collection? Okay, we can look at this and see what they say. And is there a site not working? Okay. Well, say it's not working. That's kind of a bad sign. But we know Gary vanish out is prominent in this space, so can't be too bad. Okay, Alright, I guess it was just weird. Okay, so each has specific message. Its premise of his approach is to create access to this community. So doesn't say too much. Let's see. Okay. It's token shoe lasts forever. Yeah, of course. Y of t. So, yeah, so you could look and read the story behind his v Friends characters. And Gary says that these are for the human traits and that he eventually wants to make this like a cartoon and have, like, you know, intellectual property tied to all of these characters. And so, yes, Gary did draw these characters themselves. So it gives it kind of like an intimate touch to it. What tokens give so different tokens have different effects, I guess. Yeah, just some some frequently asked questions. So yeah. Pick a project, go through the project and find what kind of things that you can do to add to the attributes of the project. And then finally, see if that makes sense for the price that it is at right now. Fee friends. And we're going to check open seat just like we looked at earlier. Be friends, is going for 7.74, which is the floor price. That's the lowest price. Somebody's lifting it up for it, which is probably around like 14 or something. 14 thousand yet, exactly 14 K. So yeah, this is worth 14. Hey, brand new car. Kinda, kinda nuts, right? So, yeah, current price, Fourteen in theorem. And try and figure out if these are worth it for 14. A theory of now, some other things you can even think of like this, see whether it's worth it or not. You can write down like, okay, over the last month, the floor or price has been around so much. So you can go back here, actually go and activity and see what it's been selling for. So for the most part, you can see here that the average prices range from seven to 90 is like 11 here. So it has kind of dropped over the last few months. But you can see that it has ranged from around seven to nine. So it's not gonna be like 1 eighth tomorrow, which means it's relatively, relatively predictable than it's not going to go down that much. So what is add that Laura has been 79, stable. So just another thing to consider as you're figuring out the price and whether this price of 14 theorem. No, no, no, no. It's 70 here, right? Yes. Okay. Yeah, unfortunately it's too much. So, yeah, the price of 70 theorem, whether some of these factors make it worth it to buy now and whether their future if Gary V. Is going to do anything with this project. That might also bring up the price of this. Because in this economy, this NFT economy, having attention and having something be popular helps bring up the floor for us because people get excited about it. So, yeah, find a project that you might be interested and do a little bit of research on it, write it down and attributes here and then write down the price and see if it's worth it. If not, write down a price that you might want to get in for and maybe a price that you might want to exit, like cash-out on this project at and just leave and see where it goes. 21. Final : Congratulations on finishing the course. Now if you could do me a big favor and spend 30 seconds to write me a review about what you thought was helpful so that I can continue doing more content like that. That would be so, so, so helpful and also helping this course be seen by other people as well. And if you enjoyed the topic, I do have many other courses that cover a similar discussion. So I'll see you in the next course.