NFTs PART 4

We’ve branded this week as NFT Week and it’s day 4! We haven’t yet touched on how NFTs derive their value so let’s go there today.

As far as I can tell there is no manual that determines the value of any piece of NFT art or music. Of course, if the seller is a popular person: media personality, professional athlete, or social media influencer, that can drive the price up. But have you seen or heard of the Bored Ape Yacht Club (BAYC) series of NFTs? Their creators, 2 friends from Florida hired someone to get the artwork done and they launched it.

So far, the BAYC has sold millions of dollars worth of ape artwork and is now partnering with Adidas and other celebrities. Considering that they were first launched in April 2021, less than a year ago, and the beginning price was 0.08 Ethereum (about $200 USD at that time), it has grown tremendously! As of today, the price of one of those disinterested-looking apes goes for 50 ETH! (approx $130K).

Will it only work just for celebrities and other well-known people? No! Once you are trustworthy and your work is of good quality you stand just as much a chance as anyone else! Business Today magazine mentioned that NFTs could be valued based on the credibility of the artist, the nature of their artwork, the effort put into the creation of the artwork, the story behind it, and maybe even the social currency of the artist.

My cousin Curtis is a fierce and dominating force in the photography arena and I’ve been talking to him about creating NFTs out of his artwork. He often photographs the best sunrises and sunsets as well as pics of the ocean, flowers, birds, trees, and even boats on the water. In my mind, he is the king of photography!😃 His son, my baby cousin Kemuel, is quickly becoming a master in the crypto space, educating himself about all things concerning crypto! He can be a boss in the NFT space as well as his dad! Please don’t let the teenagers be the only ones catching this new digital asset wave, you and I can understand it and participate too!

I’m sure you know of someone who can turn what they do into NFTs. I’m thinking now of the beautiful artwork of a friend Belinda, or my son Jevon and his company BH LED, my daughter Jamilah and her artwork, or maybe even you! Even if you can’t draw or you’re not into artwork, don’t be a stranger to this space, you can hire someone to get your artwork done, upload it and begin to sell your NFTs!

Ask the Holy Ghost to show you what to do! This wave of digital assets will not pass you by. I declare that you will be an early adopter, you’ll learn and grow!

Copyright©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™ . The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestion in this post.