The blockchain world is diverse and complex, NFTs are still experiencing huge hype. Here it is often difficult to keep track, the range is too large. Countless new NFTs are popping up every day – which ones are scams, which ones show potential?
What are gimmicks, what are investments? In addition, NFT owners have one thing in common – their enthusiasm for cryptocurrency. Here computer nerds, investment thinkers, art lovers and collectors meet. They all believe in the vision of a digital future. They form NFT communities, inform and advise each other. Help each other educate, invest and learn. An NFT as a ticket to a community? But why are such communities becoming more and more relevant? What added value does such collective cohesion provide?
NFTs are assets
Non-Fungible Tokens, abbreviated NFTs, are indivisible, non-replaceable tokens. Cryptocurrencies like Bitcoin, on the other hand, are interchangeable. Thus, each NFT is a unique piece that can be purchased as an asset. NFTs can come in various forms, for example, there are digital works of art, so-called crypto art or game figures for sale online. NFTs, like other cryptocurrencies, are traded on a blockchain because it is the safest place to store your cryptocurrencies. Owning an NFT is considered an asset, just like owning an expensive painting and hanging it on the wall of your house. You want to create a name for yourself with others and show your prosperity.
The hype keeps growing
NFTs are popping up more and more everywhere these days. Many well-known artists and companies bring their own non-fungible tokens online, such as American rapper Snoop Dogg or skateboarder Tony Hawk. Most recently, the collections Moonbirds and World of Walrus have hit the market. After warming up for the crypto business through bitcoin and other cryptocurrencies, people are now venturing into assets in the form of NFTs. But as a beginner, you should exercise caution. As with expensive paintings, there are many opportunities for counterfeiting in the NFT industry. Common scams are, for example, links to fake NFT marketplaces sent through phishing emails, fake customer support or NFT plagiarism. Proper due diligence, ie investigation of economic, legal, tax and financial matters, can avoid falling victim to a scam. Elon Musk is a pioneer in crypto. He recently acquired the social media platform Twitter. Since he is familiar with common scam methods, he could prevent Twitter scams in the future and thus also make progress for the NFT business.
NFTs as a ticket to the community
NFT Communities offers an exclusive currency. People can use them on their products or services, and at the same time it helps build brand loyalty. NFTs can also create a sense of loyalty and connectedness. This also creates a feeling behind the tokens. This gives people reason to keep their NFTs and not sell them at a perceived higher price. Because only by owning a non-fungible token can you be admitted to the NFT clubs and become part of the community.
An example of a positive NFT community is the Bored Ape Yacht Club, abbreviated BAYC. If you want to join this club, you only need one thing: own a Bored Monkey. The digital works of art in the form of monkeys are among the most famous NFTs. If you do not have a monkey, you can buy one. Registration in a wallet is required for the purchase. The popular Bored Apes are categorized by rarity and thus have different prices, so access to the club remains reasonable for any newcomer – as long as the necessary funds are available. Together, BAYC results in a collection of about 10,000 NFT monkeys. If you are a member of the club, you can get a discount.
Lots of benefits for NFT Club members
Becoming a member of an NFT club like BAYC offers even more unique benefits. On the one hand, partnerships can arise, on the other hand, some clubs offer the opportunity for quests. Quests are tasks in which currency holders embark on personal journeys or adventures that can lead to rewards upon completion. Winning a quest reward triggers a positive feeling in the owner and is happily shared by them online on their social channels. Sharing on personal networks arouses the interest of other people and can thus expand the community. It will raise awareness of the industry and encourage new memberships from creative NFT fans to stimulate new opportunities.
It is definitely worth joining an NFT club for all NFT owners. The clubs are also a great opportunity for people who are interested in investing in NFTs and the community Membership of an NFT club gives you the opportunity to meet people and learn more about the different cryptocurrencies. Clubs like BAYC have already shown that it is possible to build a large, positive community. The only thing you need to bring besides an NFT are only positive vibes.