Скачать или смотреть What is an NFT? Explained in Simple Terms

In this video I explain NFTs (Non Fungible Tokens), what are NFTs, what NBA Top Shot is, and why I Invested/Spent $25,000 on NFTs! Special thanks to Kristie (our guest) check out her Art Gallery ➭ https://landingcontemporaryart.com

📌 Subscribe for Weekly Videos: https://bit.ly/humphcrew
► Get $10 of Free Stock of your choice on the Public Investing App ➭ https://pblc.co/humphrey
► Get 2 Free Stocks on WeBull (valued up to $1600 when you deposit $100) ➭ https://a.webull.com/i/HumphreyYang
► Robinhood (get a free stock!) ➭ https://robinhood.c3me6x.net/qPyKY
► Patreon + See What I Invest In ➭ https://whop.com/c/critical-wealth/ytd

►
► Join the Discord Community ➭   / discord  

I explain NFTs (Non Fungible Tokens) Crypto, what are NFTs, and NBA Top Shot is, and why I spent $25,000.

NFT's have been quietly gaining popularity along in the news as of recent, Logan Paul recently created 3000 of his own NFTs and sold over 1700+ of them totalling about $3.50 million dollars in the first day.

NFTs, to make this AS easy as possible to understand, think of them like digital collectibles or digital art that use blockchain technology to validate and authenticate them.

"NFT stands for Non-FUNGIBLE Token" , and the root word "fungible" means that it is "interchangable". This is the keyword.

Dollar bills/currency - I could give you either one of these dollar bills, and to you they're probably the same, each one can have purchasing power, and they aren't really unique.

Now imagine you have an artwork that has a limited edition, #1 of 3. If i gave you #1, but you wanted edition #2, they aren't the same. They're unique in that they're numbered. The edition #1 is not the same as #2.

So Physical Art is non fungible. If you buy a limited edition artwork from Banksy for example, you are the sole owner of that edition of art that he produced, and the value of that art comes from the fact that it's one of few versions, and that Banksy made it.

What are NFTs and Why I chose NBA Top Shot as my preferred place of investing:

I chose NBA Top Shot to get into NFTs, and the reason is that its officially licensed by the NBA, and runs on a blockchain that was created by the makers of the original NFTs - Cryptokitties, from 2017 - that company is Dapper Labs - which by the way, has raised over 52.5 million dollars from prominent venture capitalists.

Because of the partnership, I felt that it was less risky to buy NFTs on Top Shop since there was always going to be a market for these NFTs that as long as the NBA and this organization existed.

Each card has scarcity that's been set, and if the NBA is a governing body that is endorsing it. This solves for a lot of market and liquidity issues we spoke about earlier.

So yes, while there is platform risk by buying trading cards on TopShot, I am hoping that the liquidity and continual endorsement and development of it by the NBA is always going to be there.

It's a reason as to why I decided to put $25k of my cryptocurrency into cards on TopShot.

In my view, I had invested $5k into Ethereum back in March of 2020 at an average of $130 a coin, and since it's trading for well over $1500 now, I wanted to take some of those profits off the table and diversify into a new space. Another reason that solidified TopShot for me was that it was plain fun and the market was growing.

▶️ My name is Humphrey Yang, I've built multiple businesses and am passionate about Personal Finance. If you're trying to build a solid foundation of financial literacy, learn to invest, or become financially free - then I'm here for you! This channel cover topics like getting out of debt, managing money, building credit, multiple income sources, passive income, etc.

📧 Contact: If you have a question feel free to leave me a comment on my videos or follow me on IG and send me a DM! If you have a business related inquiry, please then send me an email at [email protected]

Disclaimer: I am not a financial advisor, any investment commentary are my opinions only. Some of the products and services that appear on this channel are from companies that I have an affiliate relationship with, such as Robinhood, for which I recieve a small percentage made via those links, but it doesn’t cost you anything extra!

📷 Instagram:   / humphreytalks  
📲 Tik Tok:   / humphreytalks  
🐪 My FREE Newsletter ➭ https://humpdays.substack.com