Life 101's Situational Finance: I Want In On The NFT Hysteria, But I Am Not A Creator... How Can I get Exposure?
Author - Chad C. (@_ccope_)
Over the past few months, the cryptocurrency market has been making waves. Typically, when you hear the word “cryptocurrency”, your first name association with it goes to Bitcoin. If you are a little more advanced, Ethereum will come to mind. However, recently there has been a new “NFT-mania” that everyone has been talking about.
So, what is an NFT?
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An NFT can be used for a number of purposes, but simply put, it can be used to monetize your IP — this means whatever an individual believes another person will find valuable, then you can sell it. Furthermore, because the sale of NFTs happens on the blockchain and NFT marketplaces like Opensea, Rarible, and others, the true owner of the NFT is on a public ledger. This can be a monumental tool for artists, collectors, creators, developers, and influencers looking to make money and maintain ownership of the products that they create. Unfortunately, this tends to leave out the average person who either A) does not feel assured that they could sell a virtual product on an NFT marketplace or B) has explored how to upload an NFT and has quit after realizing that it is complicated if you are not familiar with crypto platforms.
Why should the creators have all of the fun?
Whether you believe this new phenomenon is a fad or even a bubble, is completely your prerogative. For those who do not want to wait on the sideline and want to get a little skin in the game, here is one way you could get exposure:
There are cryptocurrencies that are not individual NFTs, but they are coins or protocols that are related to the NFT ecosystem. As long as the NFT market continues to boom as it trends upwards, you can expect many of these coins to do well. To find out what coins are related to the NFT ecosystem, an easy way to do so would be to go to coingecko.com/en/nft. It will list the top 100 NFT-centric cryptocurrenices by market capitalization. From there, after you DO YOUR OWN RESEARCH (DYOR), you can find the exchanges that these coins are traded to purchase them with a simple google search. If you wish to find out two of the coins that we have been holding and the reason behind why we hold them, join our community…
Below is a screenshot of the top 10 NFT-centric cryptocurrencies. If you look at the 7d price movement, you will notice that these coins have been booming, rising on average 110.2% this past week.
You did not miss the boat, there will always be more opportunities to make money and our goal is to help show you how.