NFTs are exploding in popularity, and value. In fact, in a single week, a single Bored Ape sold for $2.9 million worth of ether followed by a set of 101 of the NFTs selling for $2.4 million. There are several aspects that go into making up the value of NFTs from a financial perspective, but in my view, the value goes far beyond ether, Bitcoin, or dollars and cents.
One of the best parts of investing in NFTs and following the industry is the community itself.
What You Need to Know About the NFT Community
The NFT community is unlike any community you’ll find in any other high dollar sector. Think about it, when you think about the stock market and the community on Wall Street, the first thing that likely comes to mind is a group of clean cut suits and ties that walk fast, talk fast, and never take a moment for fun.
That’s not the kind of people you want to hang and have a beer with.
No pun intended, I’m part of the Wall Street community and love my position within it. Books can’t always be judged by their cover.
Nonetheless, that’s the perception.
Now, consider the NFT community. What’s the first thing that comes to mind. If you’re like me, it’s laughter. If you’re not familiar with the community, you can peek inside and get an understanding of what I mean by simply going to OpenSea and checking out some of the NFTs that are currently available for sale.
You’ll find Bored Apes which are quirky cartoon apes, each one unique, often with smirks on their face and wacky hairdos. You’ll also find Cryptopunks, which are pixelated images of punks with stories behind them.
The list of creative images that will make you laugh from time to time goes on and on.
You’ll also find images that evoke emotion, stand for a cause, and point to positivity; it all depends on just where in the community you look, giving you the first clue of who makes up the NFT community… average people like you and me, that’s who!
Competition… What Competition
In most industries, experts put on fake smiles and pretend to be as helpful as possible. But what they’re really doing is holding onto closely guarded secrets to stay one step ahead of the game. Think about it, Even massive companies like Apple are highly secretive, guarding their secrets with everything but the lives of their employees.
The NFT community doesn’t work that way.
In the NFT world, a family is being born, one in which members see an opportunity for all and are willing to help their fellow man. In fact, there are multiple profiles on Twitter and Discord Channels aimed at connecting experts to beginners and helping those beginners shine in the industry.
Those experts, willing to lend a helping hand, help to make the NFT community what it is today. One in which even preteens and teenagers are making millions of dollars.
The simple fact is that if you want to learn how to make a living in the NFT world, all you need to do is be an active member of the community. Plenty of people have made millions in the industry and there’s really no secret sauce because everyone in the community seems to be eager to help their fellow man.
Clubs for Like-Minded People
It’s always nice to be part of a club. Bonds are built within clubs and members often lean on one another for everything from a good time to business and relationship advice. When you purchase an NFT, you’re not just buying a piece of art, you’re becoming a member of a club.
That club is made up of like minded people that saw value in the same assets you did, likely for many of the same reasons you did. Oftentimes, buyers of specific types of assets become colleagues, or even close friends, who bounce ideas off of one another all in an effort to create value for the club as a whole.
For some people, the best part of being a piece of the NFT community is that it’s completely anonymous. Few people use their real name and headshot when taking part in conversations on Twitter or Discord. Instead, they use NFTs they own as the avatar and a mask name they’ve created for themselves.
Why would they want to do that?
Well, that lawyer, doctor, or police officer no longer has to hide behind the veil of professionalism. They’re free to be themselves when taking part in the NFT world. They’re free to joke how they choose without the fear of someone taking it the wrong way, talk about a party they enjoyed being at, and share things they never would have been able to as Mr. Attorney, Mr. Stock Market Analyst, or Mr. Officer.
That’s a huge advantage.
NFTs have a relatively short history, with the first one being created in 2014. However, in that short period of time, an entire industry and bustling community was born. However, as you get started in the space, you’ll quickly learn that the community isn’t as clean cut as you would think with the prices of assets out there.