Does NFT make money? Profits from NFT in many cases is based on the durability of the asset and luck.  Creators make money from NFT royalties.  The blockchain technology which empowers the NFT makes it possible to charge loyalty fees anytime NFTs change hands in the secondary market. Thus, NFT creators will be making money even after selling their creations to collectors.

NFT royalty payments are perpetual and it is executed by smart contracts automatically anytime there is a subsequent sale of the NFT. With most marketplaces, you can choose your royalty percentage and the common industrial standard is at 5-10%.

What is the whole point of buying NFTs? So far, it appears that NFTs are the trading cards for the rich. It appears so, because there is no inherent value to these cards, but the value is what the market assigns to them. The trading potential of the NFTs can be ascribed to the high-risk gambling game.  Their worth fluctuates and those who collect them are obviously dealing with some kind of risk.

Almost anything unique can be made in to an NFT.  It can be stored digitally and it holds value.

The top 10 NFT businesses that are happening are NFT collectibles, NFT market place, NFT online course, NFT cryptocurrency, NFT loan platforms, NFT brokers, NFT virtual reality.

Majority of the NFTs operate under Ethereum.  However, almost every blockchain ecosystem offers NFTs. To trade in NFT art use the NFT market place.

Lark Davis shared: “NFTs are still making money for flippers, are you buying, or are you sitting it out? Personally, besides a few NFTs I own, because I like them, I am not doing much with NFTs.”

Random and Mixed Community Opinion about NFTs:

I still don’t see the value. I understand currencies, tokens, security, and networks. But not NFTs. I might be wrong but let’s not invest in what we don’t understand.

It’s like baseball cards, you could say they’re just pieces of paper but to the community, they have a lot of intrinsic value and on the blockchain, they can last forever.

Somehow I’m not into NFTs at all. Maybe I should give it a proper try this year, don’t know.

I know I must sell some in the spirit of taking profits, but with NFT’s in particular you can get very ‘attached’ because you are part of a community and connect with the leadership team. However, I need to be disciplined so will stick with those I have huge faith in. The rest sell.

Curious, in what sense do you have “faith” in an NFT? I mean it is art. Either people like it or not.

NFTs can be used for other things than art. It is the technology where you can have faith in, or not.

I didn’t look into it. I associate NFTs with digital art because that’s what I see about it on crypto Twitter.

Yeah, that’s right, most people don’t know how amazing the technology behind it is. I see great opportunities for companies in the future.

What can NFT’S be used for that justifies the crazy price tag?

The crazy price tag is a whole other story. And in my opinion, cannot be justified. But if we look at the technology, it is much more promising than a bunch of monkeys and CryptoPunks. I think NFTs can link the blockchain to real-life things that you can buy. For example a car.

So just a contract then, like we already have? I’m not being funny I’m just asking what is changing?

No problem, asking can’t hurt right? It is indeed a contract as we already know it, but isn’t crypto also money as we already know it? The big difference lies in the use of a blockchain as a starting point.

Ok, but I’m asking why not use a regular contract?  What was the problem with the regular database? when was the last time your rent or car payment got “hacked” I think it’s becoming nothing more than a cult for people who hope to make money from it?

And the last thing I want to say, for a real artist, who like to make art en selling is not their priority, this is a great system to get some artwork for sale. I loved making creative things on my computer way before I ever heard about NFTs. It is not only a money cult.

I agree with everything you say. And I have done the research. And that’s what’s got me questioning things. If this was a better system than legacy, why isn’t it being used for anything other than “art”. Of which, I’m still waiting to see any sort of real art.

Also, as far as my data is already being hacked, I don’t have anyone secretly paying my rent for me, or my car, and I don’t have anyone siphoning money from them either. So, what is this stolen data doing negatively which I need 1, $250k NFT to solve?

No, you don’t get the point, the NFTs that are for real-life implications aren’t 250k that’s just madness, just like a 6mil Picasso painting. We are talking about the technology here that has a big potential.

Nothing like a Picasso lol. I’m just waiting to see a real use case being implemented. It might be amazing technology. But so far it’s being used for jpegs lol.

Very bullish on Gooney Toons NFT which is very high-quality art based on the Gooney Toons comic. The core team is active daily and the community is by far one of the best I’ve seen yet. Solana NFTs is worth your time.

The technics of the NFTs are really good and I could see some real-world value in it. But all the Ape hypes pictures and other random art I don’t invest in. I keep it to currencies and invest in L1 projects.

NFTs is mostly what I invest in – I believe in the tech and the long term. Smart Contracts and Blockchain technology are here to stay.