The festive season is upon us, and let there be no doubt about it, NFTs are bound to crop up in casual conversations around tables all across the world. It’s a tricky battlefield to navigate, but as long as you are patient, optimistic and read this article, you should be good to go.
NFTs are now entering the mainstream, but this does not mean that you will have an easy time explaining, let alone convincing, your loved ones that dropping $250 on a Common Avalanche Party Animal is absolutely the right thing to do.
Our advice is to focus initially on explaining to them in simple terms, what the future holds for them and how they work.
Aunt Janet will inevitably ask questions about NFTs, and you’ll need a response ASAP. We’ve got you covered for the sceptical, the curious, and the outright ignorant.
So, what the hell is an NFT anyway?
Answer: In very simple terms, NFTs are almost like certificates on the blockchain that prove true digital ownership, validity and scarcity.
NFTs can be digital files such as art, photos, videos, audio, or anything else that is unique and that can exist on a blockchain. Personal debt is unique, and the debt collectors of the future may be bidding on NFT debt. At the moment, NFTs are taking over the art world, because they have an excellent use case.
It’s a one of a kind digital asset, giving the owner of the NFT everything from bragging rights to investment opportunities, and it’s very early days.
How do they work?
Answer: Well, NFTs are unique and in a way are just like your dusty stamp collection. Except the stamps are digital and I can sell them easier and quicker. *show them your Ava Pepe collection*
I still don’t get it, can’t you just right click and save it?
Answer: You can do that, but your copy will not be verified on the blockchain, basically meaning it’s worthless. You can print a copy of the Mona Lisa and hang it on your wall, but it’s not the original. The smart contract (or blockchain if easier) is what verifies your ownership of the piece.
1/1 auction ends in 10 hours. ????https://t.co/zilLcB6Sk9 pic.twitter.com/m9W4E1lONf
— DeeKay (@deekaymotion) October 29, 2021
But isn’t this another form of money laundering?
Answer: Not really, it’s becoming harder to move fiat cash into crypto due to exchanges making KYC regulations mandatory. There are some unscrupulous characters in the crypto world of course, but any laundered money in crypto now has to come from somewhere else.
Of course, there are scams in the NFT space, and a lot of projects will be worth absolutely nothing in the future, but don’t underestimate community, belonging, art ownership and a whole bunch of other cool stuff coming into the sphere. Banksy is even here!
????Flash #Giveaway???? 10 WL Spots!
While anyone can go to a museum & view work on display, we believe that owning art is uniquely fulfilling. How will you feel when you purchase your first #ParticleNFT?
To Enter: Like for Happy, Comment for Elated or Retweet for Over the MOON???? pic.twitter.com/b6TQqTsIIT
— Particle Collection (@Collectparticle) December 11, 2021
I don’t see the big deal, I can draw better than that!
Answer: Let’s see the drawing, if it’s got potential we will start a project together.
Look at this BAYC I just right-clicked and saved, am I a millionaire now?
Answer: No. Your NGMI.
The Christmas season is about reflecting, learning and sharing with others, so if you feel that this is exactly what the NFT community does, you should let this be known.
Maybe, just maybe, this time next year NFTs will change their life and you’ll get the credit for helping them be early.
If you liked this article, you’ll love Return Of The Avalanche #Hashflag