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NFT Profit is an NFT trading platform designed to advise and guide people through the world of digital assets. It combines expert insight with advanced technology to give its users the best possible experience as they embark on their NFT adventures.
Becoming a NFT Profit member is easy. All you need to do is head to our login page and enter your name and contact number.
Yes- it really is that simple! At that point, you won't yet have access to the full platform, but it is the first step to creating your account.
After signing up, the real excitement begins. Here is an overview of what to expect from NFT Profit and how the setup process works.
Once we receive your account registration, we assign an account manager to work directly with you. They give you a call on the number you provided to speak one-on-one about your previous experience, future expectations, and understanding of the NFT market.
The purpose of this phone call is to ensure you have all the information you need before you get started and to familiarize you with our team and our way of working. Your account manager is available for guidance and advice whenever you need them.
Before you can start, you need to connect your NFT Profit account to an e-wallet. Whether or not you have already purchased any NFTs or cryptocurrency, you need this available for when you do.
Having it connected makes it fast and easy to deposit funds and withdraw NFTs for storage. Trading is fast-paced, so you need this type of convenience if you want to do it well and keep up with the market.
When you are all set up, you are ready to get started. At this stage, you can explore the software, study the markets, and see what opportunities are out there. Remember- you can always contact your account consultant if you have any questions.
Our team is here to guide and advise, but the power lies with you. You are 100% in control of your account at all times, and only you can make the final trade decisions. The NFT trading industry is exciting and offers so many different opportunities. Our advice is to start slow, study hard, and learn as much as you can before diving in.
NFT Profit is here to help you make good decisions and develop your knowledge along the way.
An NFT is a non-fungible token. Still not very clear? Let us explain…
Non-fungible tokens are uniquely minted digital files that cannot be replicated. Each one has a specific address that proves it is the original. They are a type of crypto, but they are not a currency.
NFTs take on many forms. The most popular category is NFT art, which is essentially the buying and selling of digital visual creations. Music clips and videos are also popular, but the market branches as far as gaming assets, sound bites, and functional elements in a whole new virtual reality.
The first NFT collection as we know them today launched back in 2017. Compared to the rest of the crypto industry, this is still a fairly new concept. Larva Labs- a US-based digital art studio launched the original CryptoPunk collection. CryptoPunk is a 10,000 strong army of collectible and tradable tokens- each unique and exclusive. It was the first of its kind, opening the way for an entire industry to erupt.
Before this, there had already been some experimentation into the idea of non-fungible coins. The color coin was the earliest example, but Larva Labs marked the real turning point. That said, Rare Pepe had already dabbled with minting memes for sales. The combination of these three works created the NFT world we know now.
Fast forward to 2019. NFTs are gaining traction in the crypto world and the insiders start taking notice. At this stage, it was all very much a niche market. As 2020 crash-landed upon us and the world was turned on its head thanks to a global pandemic, NFTs burst onto the mainstream scene in a big way.
With people spending more time online and less money in the shops, crypto became one of the most googles terms in the world. NFT art was poised to take off- and take off it did. From 2020 until now, the international market for NFTs has grown exponentially, attracting tens of millions of investors, artists, and collectors every month.
What comes next for NFT? The answer depends largely on who you ask. There are still those who believe it is a fad- just like Bitcoin apparently was. When you consider that Bitcoin is not poised to become a central player in international finance and may revolutionize how people invest, it is safe to assume that the experts are not always right.
NFTs, in our eyes, are the future of art collecting. Fine art collecting has been around for centuries. To this day, many creative investors put their money into art trading. The world is growing more and more digital every day, so who is to say that this institution is immune? Young, tech-savvy, and bold investors are turning to the crypto realm for new opportunities. As long as the interest and support are there, the sky is the limit.
One major player to look out for in the future of NFTs in the metaverse. It is a fresh development in the industry and is pushing the boundaries of how NFTs can be used functionally rather than just art. Watch this space- anything could happen.
Creating NFTs is a whole other ball game. NFT Profit is predominantly aimed at NFT trading, but that doesn’t mean you can’t branch out. To mint an NFT, you need to visit a marketplace.
NFT marketplaces are essentially playgrounds for NFT enthusiasts. The largest one to date, Opensea.io, has more than 10 million users. They combine auctions, viewings, conversations, and creativity for all things NFT. If you want to make your own NFT collection, one of these platforms is where to start.
All you need to do is create your digital work then upload it to the marketplace blockchain. You then name the piece and add its attributes. When you are happy with it, you mint the creation. Depending on what platform and blockchain you use, the price for minting an NFT varies. Ethereum blockchains, for example, and amongst the most expensive. Please research minting fees before you get started.
Your freshly minted NFT then appears in your account ready to sell. Set a price or put it up for auction- the choice is yours. Alternatively, store it in your digital wallet and use it on NFT Profit to trade.
Please note that these marketplaces are not designed for NFT trading on a high level. If that is your goal, NFT Profit has all the tools you need.
NFTs are a form of crypto but they are not a currency. Both exist on the blockchain and require a digital wallet for storage. They are also both entirely digital. The similarities can be confusing, but there is a very simple explanation as to how they differ.
In short, the clue is in the name. NFT stands for non-fungible token. Non-fungible literally means that it cannot be replicated: there is only one exact copy. Compare that to Bitcoin, for example. Every Bitcoin is the same. They are interchangeable- you can swap one for another, and there is no difference. Every crypto coin has exactly the same origin, value, and worth.
An NFT cannot be a currency because it cannot be exchanged like for like.
Blue chip NFTs are essentially elite tokens. They are usually part of collections minted by well-known artists or channels. Most blue chip NFTs are rare and highly collectible, usually selling for high prices. Some notable blue chip collections include CryptoPunk, Bored Ape Yacht Club, and Cool Cats.
These are comparable to what is known as blue chip stocks in the traditional trade markets. Again, they are high-value, high-profile assets with the potential to sell for a lot of money. Traditional blue chip stocks include Microsoft, Coca Cola, and McDonald's.
Yes, you do. If you want to buy and store NFTs or any type of crypto asset, you need to have a digital wallet. A digital wallet (also referred to as an e-wallet) is essentially a crypto bank account. It functions the same as a traditional banking account that stores your funds and assets, except it is entirely digital and everything stored in it is essential a file.
You can set up a digital wallet through a reputable coin exchange or an independent provider. They come with two security keys: one for access and one for transaction confirmation. Do not share these codes with anybody else.
It is also a good idea to consider buying an offline digital wallet for added security if you are planning to hold on to your NFTs for a while. Online wallets are secure, but they are still open to cyberattacks.
An offline wallet lets you store all crypto files on what looks like a pen drive. It removes them from cyberspace and keeps them safely out of sight and any unwanted prying eyes. When you plug it into a computer or laptop, the files (a.k.a assets, NFTs, currency) are automatically uploaded and available.
One thing to remember: don’t lose it!
First, let us clarify that not all NFTs are valuable. Most tokens sell for very little. The percentage of NFTs that sell for four or more figures is not as high as some may think it to be. Please do not go into NFT trading or collecting with the expectation that every piece is going to make thousands of dollars.
NFTs are like art. Just like traditional artwork, some sell for $10 and other pieces go for millions at auction. A big part of it is to do with who made it, where it is sold, and what history the piece has. Of course, an NFT is unlikely to have quite as rich a history as a Van Gough, yet some have outsold his pieces by significant margins.
The history of an NFT is about the artist, the auction activity, and the previous owners. If a celebrity once owned an NFT, it is likely to be worth more. Similarly, if the NFT relates to a significant event, be it political, social, or otherwise, the attention it attracts could hike up the value.
Like art, it is difficult to predict exactly how successful an NFT can be. Blue-chip collections tend to sell for higher prices, as do celebrity collections. Rarity plays a huge part, in that the more exclusive a piece is, the more it can bring in.
Why wait? NFT Profit is here to path the way to an exciting NFT adventure. Crypto is the way of the future, and NFTs are here to stay. Futuristic fine art collecting? Competitive trade markets? Ample opportunities for creativity, community, and collaborative investing? What’s not to love?
Become a NFT Profit member today and take your first steps along the non-fungible yellow brick road.