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Author Topic: How to make money with NFTs  (Read 3040 times)

Alan Klein

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Re: How to make money with NFTs
« Reply #20 on: December 23, 2021, 06:52:20 am »

Lot of articles emphasize how to invest in NFTs, not how to earn money.
What are they going to be worth when you try to resell them?

digitaldog

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Re: How to make money with NFTs
« Reply #21 on: December 23, 2021, 09:22:20 am »

What are they going to be worth when you try to resell them?
What will the Dow close on February 22, 2022?
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Eric Myrvaagnes

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Re: How to make money with NFTs
« Reply #22 on: December 23, 2021, 03:48:55 pm »

Personally, I would never attempt to funge a token, especially a non-fungible one (i.e., NFT.)    8)
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Slobodan Blagojevic

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Re: How to make money with NFTs
« Reply #23 on: December 28, 2021, 08:31:19 pm »

Interesting analogy:

LesPalenik

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Re: How to make money with NFTs
« Reply #24 on: December 29, 2021, 09:22:16 am »

For several decades now, you can buy land on Mars. For $29.99 you get a deed and a map of the lot.
I wonder if Musk and the Mars colonizers will respect those properties.
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Alan Klein

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Re: How to make money with NFTs
« Reply #25 on: December 29, 2021, 09:48:48 am »

For several decades now, you can buy land on Mars. For $29.99 you get a deed and a map of the lot.
I wonder if Musk and the Mars colonizers will respect those properties.
Which is a better investment choice?  NFT's or Mars property?  :)

digitaldog

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Re: How to make money with NFTs
« Reply #26 on: December 29, 2021, 09:55:30 am »

Which is a better investment choice?  NFT's or Mars property?  :)
Invest in both and let us know.
“Experience is a wonderful thing, it enables you to recognize a mistake when you make it again.“ -Source Unknown
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Eric Myrvaagnes

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Re: How to make money with NFTs
« Reply #27 on: December 29, 2021, 01:07:40 pm »

If you buy Mars property, be sure to put a fence around it with signs saying "No Hunting, Fishing, or Trapping."
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digitaldog

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Re: How to make money with NFTs
« Reply #28 on: December 30, 2021, 08:37:52 pm »

If you buy Mars property, be sure to put a fence around it with signs saying "No Hunting, Fishing, or Trapping."
Seems a better investment than this, but hopefully Alan reports back 😝:

https://www.rollingstone.com/politics/politics-news/melania-trump-nft-moneymaker-1277158/

Quote
Melania Trump‘s decision to sell an NFT, or a non-fungible token, was met with healthy skepticism when the former first lady announced the move earlier this month.
Donald Trump had said in June that cryptocurrency is a “scam against the dollar.”
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LesPalenik

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Re: How to make money with NFTs
« Reply #29 on: December 31, 2021, 07:11:34 pm »

Which is a better investment choice?  NFT's or Mars property?  :)

Years ago, a friend of mine bought a half an acre lot unseen somewhere around Ft. Myers in Florida.
Later it turned out, it was in some swampy area. Ideal for hunting gators and pythons. But the cost was much higher than the aforementioned Mars property.
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Alan Klein

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Re: How to make money with NFTs
« Reply #30 on: December 31, 2021, 07:59:33 pm »

Years ago, a friend of mine bought a half an acre lot unseen somewhere around Ft. Myers in Florida.
Later it turned out, it was in some swampy area. Ideal for hunting gators and pythons. But the cost was much higher than the aforementioned Mars property.
The Marx Brothers made a movie in 1928 that was about the Florida land swamp scams of the 1920's.  It was called The Coconuts.   That was right before he, one of his brothers and Eddie Cantor lost everything in the 1929 crash along with millions more.  By the way, if anyone's interested, I've got some land to sell in Florida today.  No swamps.  Promise. 
https://en.wikipedia.org/wiki/The_Cocoanuts
https://en.wikipedia.org/wiki/Florida_land_boom_of_the_1920s

digitaldog

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Re: How to make money with NFTs
« Reply #31 on: December 31, 2021, 08:08:25 pm »

The Marx Brothers made a movie in 1928 that was about the Florida land swamp scams of the 1920's.  It was called The Coconuts.   
Once again, you got the facts wrong.
https://www.imdb.com/title/tt0019777/
https://en.wikipedia.org/wiki/The_Cocoanuts (clearly you didn't read that).
"Get your facts first, then you can distort them as you please." --Mark Twain
« Last Edit: December 31, 2021, 08:12:38 pm by digitaldog »
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Jonathan Cross

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Re: How to make money with NFTs
« Reply #32 on: January 12, 2022, 12:32:15 pm »

DP Review now has an article enititled, 'Associated Press to launch NFT photography marketplace on January 31'. It seems that AP images can be bought and traded.  What I do not understand (I admit I have not read details) is how many copies of an image will be made available and how does one guarantee that AP will not release more copies after a purchase, thereby diluting an investment.

It is a bit like purchasing a limited edition print.  Unless you know the original has been destroyed irretrievably, there is always the danger of more prints being released in the future, e.g. in a different size.

I am not convinced!

Jonathan

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Alan Klein

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Re: How to make money with NFTs
« Reply #33 on: January 12, 2022, 04:18:00 pm »

DP Review now has an article enititled, 'Associated Press to launch NFT photography marketplace on January 31'. It seems that AP images can be bought and traded.  What I do not understand (I admit I have not read details) is how many copies of an image will be made available and how does one guarantee that AP will not release more copies after a purchase, thereby diluting an investment.

It is a bit like purchasing a limited edition print.  Unless you know the original has been destroyed irretrievably, there is always the danger of more prints being released in the future, e.g. in a different size.

I am not convinced!

Jonathan


can you make a print from the NFT you purchased and if not what is the point of having the NFT.

Alan Klein

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Re: How to make money with NFTs
« Reply #35 on: January 13, 2022, 08:05:37 am »

Another article on the subject:

https://www.digitalcameraworld.com/features/selling-photographs-as-nfts-a-pro-travel-photographer-gives-his-top-tips?fbclid=IwAR1M3MmAi8f0tCWr6Ec53m1cHUVINxPDxvPhrFKF94JetvnUGldJAyhsmVk
Great explanation of what he did.  This is a great avenue for artists to sell their works if they're good. 

But my question is from the buyer's perspective.  It's still not clear to me what you do with an NFT except hold it as an investment.  Then, hope someone else in the future will pay more for it than you did.

LesPalenik

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Re: How to make money with NFTs
« Reply #36 on: January 13, 2022, 11:22:20 am »

You can make multiple NFT copies from a single image.
Purpose of an NFT is not guaranteeing uniqueness and exclusivity of the image. An NFT is used to track a unique copy of a file that the NFT points to, such as some artwork or an expensive watch.
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Alan Klein

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Re: How to make money with NFTs
« Reply #37 on: January 13, 2022, 11:41:32 am »

You can make multiple NFT copies from a single image.
Purpose of an NFT is not guaranteeing uniqueness and exclusivity of the image. An NFT is used to track a unique copy of a file that the NFT points to, such as some artwork or an expensive watch.
How does that help the buyer?  What does he gain from buying an NFT? Can he make a picture from it and hang it on his wall?  Can he resell pictures made from it? 

digitaldog

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Re: How to make money with NFTs
« Reply #38 on: January 13, 2022, 03:41:23 pm »

How does that help the buyer?  What does he gain from buying an NFT? Can he make a picture from it and hang it on his wall?  Can he resell pictures made from it?
You have this odd habit of asking questions of others, when your long posting history and agenda show/prove, you have no desire or ability to accept any answer. No need to ask.
Everything you ever wanted to know about NTFs but will not read/accept:
https://www.forbes.com/advisor/investing/nft-non-fungible-token/
https://www.entrepreneur.com/article/374651
https://www.theurbanlist.com/a-list/what-are-nfts
« Last Edit: January 13, 2022, 03:57:00 pm by digitaldog »
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Joe Towner

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Re: How to make money with NFTs
« Reply #39 on: January 13, 2022, 03:54:17 pm »

In the case of the NBA NFT's, the list of what you can do is short, and the list of what you can't do is very long, including any monetization.

https://decrypt.co/60808/so-you-bought-an-nba-top-shot-nft-what-do-you-actually-own

https://www.businessinsider.com/what-happens-to-digital-art-nft-servers-shut-down-2021-3

Basically if you decide to put money into NFT's, don't expect anything back, ever. 

The NFT itself is like a certificate of authenticity - if it doesn't convey rights to the holder, just a note that says 'this is authentic' with a way to check.  If the NFT doesn't include a full rights release to the holder of the NFT, you can't do anything other than hold it.
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