NFT’s Might Make You A Millionaire In 2021.
Quick Background
Indulge me a little while I give you a quick background about myself and why I believe that you can be a millionaire through NFT’s. If you are not familiar with what NFT’s are, or new to cryptocurrencies there will be a brief explanation about it all.
The title might be a big statement to make, but in the world of Cryptocurrencies this is not far fetched. I joined this space in early 2017 after coming finding out about Eth & BTC on my BBC News App. Having discovered a brief article about the potential investment opportunity I searched to find out how to get ETH & BTC. Before you knew it, I was embraced by community groups and got to meet and learn amazing new things and people. Now almost Four years gone, 2020 was a year to remember and forget.
What is NFT’s
Quick understanding of what NFT’s also called Non Fungible Tokens are and what makes them so special and different to your Eth or BTC.
With Eth and BTC or any fungible tokens/money, this means that when you exchange $1 dollar note or Eth & BTC for another of equal value then there is no difference between them because you can spend it equally. You can also break it into smaller denomination and still be of equal value.
However a Non Fungible Token is unique and so different. An example i can think of to explain is look at a deck of cards. You have 2 decks of card and that means, you have 2 sets of each card. If you exchange 1 cards of the same one like 4 of diamonds and switch them around, you would think that there is no issues with that because it’s the same value or equal, but through blockchain and smart contracts, developers created a away to be able to differentiate the two through code. If you try to exchange 2 same suited cards over to different decks they would not be the same value. This is because of developments made on smart contracts that can differentiate which card came from which deck, and which deck of cards was produced first and son on. Each NFT has different proprieties and one is not equal to another. I hope that wasn’t to complicated to understand, but picture the opportunity that Non fungible Tokens can offer in the fast paced moving, ever developing space is something to think about.
Below is a in-depth guide about NFT’s.
So Why Would These NFT’s Make You A Millionaire, Is What your Wondering.
Well From my experience having been involved in this space, reading up and trying to understand in greater depth, it’s because it still in it’s early adaptation stage. Compared to blockchain and digital currency Non-Fungible Tokens are finding a use case in all manors.
From NFT’s art, to NFT’s collectibles & to NFT’s Gaming. These are a few use cases that i find NFT’s to have a strong ROI in. But if i was to pick one category that i believe will have the biggest adoption it will be…..
Blockchain Gaming
To put it in to context gaming is universal and no matter what age you are, you have at some point or another spent time playing an electronic device. Now NFT’s games have a unique proposition to allow you to fully own any digital assets on the game. From virtual land, skin, weapon's, what ever the game is about you will have full ownership of it. Now to fully understand what this means or offers to gamers across wide age groups is truly ground breaking.
PS4 Banned Account, Key lesson learnt.
Just the other day, my son called me over to tell me the PlayStation network is asking for him to sign in again. I was puzzled but i thought okay let me log back in for him. So having do so, a alert popped up saying account suspended and to check my email. I looked at my son to say “what have you done” but even he seem confused. Any ways, i soon discovered him and his school friends have a message group and a few of them being kids have been.. well acted like kids and subsequently all got a 7day band.
Now I explained about his need of appropriate behaviour on a platform that can suspend your account at anytime, even if you feel that you may have done nothing wrong at some point. So I broke it down to him, his favourite game is.. you guessed it Fortnite. I explained all that time and money you put in that game and all the items you collected will be gone for good if PlayStation suspend your account permanently. He was shocked and said “That’s not fair”, that’s the truth people. Blockchain gaming and NFT’s allowing you to own your digital assets done through programmable code is what will bring in mass adoption from your average gamer into the blockchain space.
The Biggest Blockchain Game of 2021 Will be Axie Infinity.
This Blockchain Game Built on the Ethereum Network is by far going to be one of the leading driving force of blockchain gaming sector. The game looks beautifully well thought out and has i believe the best community in the whole Blockchain space. This is through my own experience and I have also another encountered another community i feel the same experience I got from Aixe.
Within the game structure and NFT’s, they also have paved the way to what is now called #play2earn system. This is were your time spent in playing Axie is rewarded with in game item that is sellable on the 3rd Market. This is groundbreaking. With a rule or common phrase I’ve heard many times in this space is, “how important first mover advantage is” and that hold very true in this space.
My First Video I Watched About Axie. I recommend watching his channel for amazing content on Blockchain Gaming and more insightful context on Axie Infinity.
There are many different Blockchain games out now or soon to come out. From card games to virtual reality VAR games to racing games like F1 DeltaTime. Amazing games are coming into space very growing and soon breakout marketcap that would exceed over 50–100 Billion. If that is the case, what marketcap share will some of these Blockchain game hold? Well that’s where time will tell. I hope to continue to share my thoughts and opinion on NFT’s Blockchain Games and Potentially NFT’s as a whole and how much disruption is can cause in this up coming Bull Market.
Hopefully you will follow me into this journey to discover the World of NFT’s, will you become a Millionaire, if you do Please do let me know.
