Are you confused about NFTs and don’t know where to begin?
You are not alone. The NFT universe is getting huge day by day and there are so many internet resources where NFTs are explained and dissected.
Here in FreedomwithNFTs, we have our own set of “how-to” guides for those who are just starting their NFT journey.
In this article, we will introduce our own excellent resources to help you discover NFTs.
We hope these resources will help you understand NFTs better.
List of NFT Resources
Below is the list of onsite NFT Resources that we recommend for you to check about. I also highly encourage broadening your research if there are some areas or topics that were not covered in this list. Let’s go!
1. What is an NFT?
NFT stands for Non-Fungible Tokens – non-fungible meaning, they are unique and they cannot be replicated or tampered with by anyone.
Non-fungible tokens were originally used to keep confidential records of information and data mostly by people working in the medical and financial fields. Thus, it originally was associated or called a “digital ledger”.
2. Learn The Basics of Non-Fungible Token
Fungible:
An item that can be substituted or exchanged for any similar item. Fiat currencies like US Dollar, contain fungible units. For example, a dollar bill can be exchanged for another dollar bill.
Cryptocurrency tokens like Bitcoin, Ethereum, and MANA are all fungible because one token can be exchanged for any other token of the same currency.
Non-Fungible:
For non-fungible items, these have opposite characteristics definition: unique, irreplaceable, and non-interchangeable.
They are unique representations of goods or assets in the form of digital tokens. Assets like diamonds, land, or baseball cards are not fungible because each unit has unique qualities that add or subtract value.
3. How to Get Started in NFTs
(DYOR) DO YOUR OWN RESEARCH
I couldn’t stress this enough. This is the foundation of every NFT journey.
If you don’t immerse yourself in researching and getting to know what NFTs are and what exactly you’re going to do with them, you will never be able to get to the next level.
So, it’s important to know everything you need to know about this world, this space, before getting yourself into it.
Then the quote, “You have to know what you’re getting into” will not be much of a cliche anymore.
This is the first thing I did as I started my NFT journey. I have to read every article, research every terminology and watch several explainer videos about NFTs.
4. Next Steps for NFT Newbies
According to Gary Vee, one of the biggest NFTs enthusiasts and promoters in the metaverse, you have to spend at least 50 hours researching and learning about NFTs to get a grasp of what it is.
Luckily, there is a lot of information already available there now. Unfortunately, there is TOO MUCH information to consume that can cause a lot of confusion also.
What I would suggest is for you to find a “mentor”. Because of the accessibility of information nowadays, people who have been into the NFT space early on have started to share their knowledge about them.
5. The Different Types Of NFTs
Non-fungible tokens or NFTs are one of the outstanding trending topics in 2021.
As mentioned in our What is an NFT article, NFTs can represent anything that is unique and any original or copy of work. If it is combined with blockchain’s immutable core, it becomes a perfect fit to represent limited or sole ownership.
But is there a limit to what kind of data and information can be added to the blockchain and become an NFT? Or is it only applicable to some form of art or coins?
6. What does the FUTURE of NFTs look like?
We are definitely living in a very fast-paced world right now. And it’s crazy just thinking about it.
If you think back to where technology has started, you’ll see how much growth and expansion technology had in the last 10 years. Just think about how Apple is rolling out new iPhone and Macbook models every year. That’s mind-blowing!
And it wasn’t just a few years ago that Bitcoin hit an all-time high. I’m sure you remember how people got crazy and raced their way to ride the bandwagon when Bitcoin hit its all-time high of $50,000 per coin rate.
7. Create Your Own Discord Community
Even if you’ve been into the NFTs discussion for a short amount of time, you might have gotten familiar with this phrase by now.
And I don’t know about you but the first time I heard the word “Discord”, it did not occur to me right away that it’s actually an app and not a disagreement or argument.
I wonder why they named it like that, though. Well, that’s probably a topic for another day.
For now, I would like to talk to you about the Discord app and how you can set it up so you can join a community or manage your own NFT group.
8. How to Make Money in NFTs
One of the biggest factors of us being drawn into the NFT space and to the metaverse is the possibility of hitting it big time and earning money from NFTs. Isn’t it?
And it’s truly a big possibility. Aside from NFTs slowly becoming mainstream, one of the reasons why I got into NFTs is the possibility of being able to finally monetize my art – and so do a lot of artists in the NFT space now.
This article discusses the different ways we can make money from NFTs.
9. How to Buy Your First NFT
Here’s a short guide here on how you can buy and sell NFTs.
Now, let me tell you, there is no one way to do this as there are several marketplaces out there that might have different processes, but I’m only going to add from one of the most popular NFT marketplaces – Opensea.
So, here it goes.
10. How to Sell Your First NFT
Now, if you are someone who is looking to sell your NFTs, listing your NFT on Opensea is pretty easy.
Here’s a guide on how you can create your own NFT listing on Opensea.
More Resources
This article is provided for educational purposes only, and should not be relied upon as legal, business, investment, or tax advice. Please consult your advisers for clarification and legal advice.
We are always on the lookout to connect with like-minded individuals, strategic collaborators, and partners who wish to be part of our FreedomwtihNFTs journey. Please feel free to reach out to us.
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