The world of blockchain is diverse and complex, and NFTs are still experiencing a huge buzz. It is often difficult to keep an overview here, the scope is very large. Countless new NFTs popping up every day – which ones are scams, and which ones show potential?
What are the scams, and what are the investments? In addition, NFT owners have one thing in common – their enthusiasm for the crypto universe. Computer geeks, investment thinkers, art lovers and collectors gather here. They all believe in the vision of the digital future. They form NFT communities, inform and advise each other. Help each other educate, invest and learn. NFT as a ticket to the community? But why are these communities becoming more important? What added value does this collective cohesion provide?
NFTs are assets
Non-fungible tokens, abbreviated NFTs, are indivisible and non-replaceable tokens. Cryptocurrencies like bitcoin, on the other hand, are exchangeable. Thus, each NFT is a unique piece that can be purchased as an asset. NFTs can come in different forms, for example, there are digital artwork, the so-called crypto art or game characters for sale online. NFTs, like other cryptocurrencies, are traded on the blockchain because this is the most secure place to store your crypto treasures. Having an NFT is an asset, just like owning an expensive painting and hanging it on your home wall. You want to make a name for yourself with others and show off your prosperity.
The noise keeps growing
NFTs are appearing more and more everywhere these days. Many famous artists and companies bring their irreplaceable icons online, such as American rapper Snoop Dogg or skater Tony Hawk. Recently, Moonbirds and World of Walrus sets appeared on the market. After people warmed up to the crypto business with Bitcoin and other cryptocurrencies, people are now starting to venture into assets in the form of NFTs. But as a newcomer, you have to be careful. As with expensive panels, there are many opportunities for counterfeiting in the NFT business. Common scams, for example, links to fake NFT marketplaces sent using phishing emails, fake customer support or NFT spoofing. Correct due diligence, i.e. examining economic, legal, tax and financial conditions, can avoid becoming a victim of fraud. Elon Musk is a pioneer in the field of cryptography. He recently bought the social media platform Twitter. Since he is aware of common fraud tactics, he can prevent Twitter scams in the future and thus advance the NFT business.
NFTs as a ticket to the community
NFT Communities offer exclusive currency. People can spend it 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 an emotion behind the icons. This gives people a reason to keep their NFTs and not sell them at a perceptibly higher price. Because only by owning a non-redeemable token can you be accepted into the NFT Clubs and become part of the community.
An example of a positive NFT community is the Bored Ape Yacht Club, BAYC for short. If you want to become a member of this club, you only need one thing: to own a bored monkey. Digital artworks in the shape of monkeys are among the most popular NFTs. If you don’t have a monkey, you can buy one. Wallet registration is required for purchase. Common boring monkeys are categorized by rarity and therefore have different prices, so entry to the club remains fair for any newcomer – as long as the necessary funds are available. Together, BAYC results in a population of approximately 10,000 NFT monkeys. If you are a club member, you can get discounts.
Lots of benefits for NFT Club members
Joining an NFT club like BAYC brings even more unique benefits. On the one hand, partnerships can arise, on the other hand, some clubs provide the possibility of assignments. Quests are tasks that coin holders embark on personal journeys or adventures that can result in rewards upon completion. Winning an important reward causes the owner to feel positive and happily shares it online on his social channels. Sharing on personal networks arouses the interest of others and thus can expand the community. It will raise industry awareness and encourage new membership from creative NFT fans to stimulate new choices.
Definitely worth joining the NFT club for all NFT owners. Clubs are also a great opportunity for people interested in investing in NFTs and the community. Membership in an NFT club allows you to meet people and learn more about different cryptocurrencies. Clubs like BAYC have already shown that it is possible to build a large and positive community. The only thing you need to bring other than the NFT is only positive vibes.