Bitcoin Forum

Hello all. Pls I need your advise.

We heard the news of Alipay Chinese largest payment service allowing people to buy NFT.


Is NFT a good coin to buy and hodl now ?

Utilities are what decides if a project is worth the investment and NFT did that just right but NFT are of different levels just like how use cases are better than some use cases so it depends entirely on how good the NFT project is

So do you advise one Invests in it ?

China is actively oppressing decentralized and peer to peer currencies while investing heavily on blockchain and it's own crypto.
Alipay selling NFT is still a good thing as it not only make people aware of what NFT is and it's economic value but would also make them explore more outside of the firewall. Not everything should be a tool or consumable. NFT's are the new form of art.

These aren't the NFTs you're looking for.  

You can buy one, it's pretty much the same as a pokemon card (but I still prefer pokemon). Be careful for the overpriced one, as just like any digital collectibles, it may or may not have value in the future. Buy it if you like it, but if you want to invest, I'd suggest you invest in real businesses, real assets first.

Which NFT are you even referring to? Or are you specifically referring to a single token whose ticker happens to be NFT?

Because if by NFT you are referring to Non-Fungible Token (NFT), then I think it depends on the token. I am not sure if Alipay is selling an NFT which is theirs or it is only allowing Alipay payment service users to buy NFT with it.

Lacking all these specific and important details, I advise you not to buy an NFT.

Coins, both NFT and the like, are all good, but the problem is you have to learn from the events that have hit the cryptocurrency price for a few days. Only bitcoin which was adopted by China and then discarded and stopped mining has caused chaos. And now the Alipay company that we know based in China is trying to play the game again.

Think about it, how can everything related to crypto then suddenly Alipay violate China policy? wouldn't it just hurt the price?

If you want to invest in crypto, then don't look at companies that China deliberately provides crypto adoption news.
do your own research and let go of that FUD paradigm.

Well, NFT is not a coin. It goes by the name of Non-fungible token and these are usually attached to a digital asset like images, videos, music tracks, in-game characters etc. It is a new concept and we are seeing a lot of adoption of NFTs from various segments of the crypto community.

There are couple of mobile games available which will help you to understand NFT better. First one is Upland and the other one is Cryptornedo. Try them. I don't see them hugely profitable but if you don't invest out of your pocket, things should be ok.

It's not just a coin but a piece of ownership from that product or asset that you're going to purchase. I think before proceeding with buying one, you need to do more research on what kind of NFT you're going to buy. Because there is not just only one NFTs in existence but there are already thousands of them to choose from. If you're thinking of just holding it why don't you prefer to buy bitcoin first which is easier to understand than NFT?

The only problem for NFTs, you can't easily sell the NFTs like coins/token! just like selling stuff on the marketplace waiting for someone to be buy while coin/token already have a buy put order book so you can easily instantly to sell.

I have some NFTs, and yeah is really hard to be sell so investing on NFTs you should know what purpose and waiting so long to be sold or maybe even can't sell that NFTs ;D I guess people like you or us investing on NFTs is not a good things.

This is very true. When you have NFT, don't expect that you can easily discard it if you want to. It also depends on the value or quality of NFT item that you have. If it comes from unknown artist/creator, would be hard to sell it in the market. So before you purchase one, assess its potential value in the market and not just buy any NFT item.

Nowadays there is a real hype around NFT, so everyone who wants to earn big money on this trend must find something for himself connected with NFT. Personally I am investigating different NFT games now, as, to my mind, the biggest part of capitals go directly there.
Another way to earn on NFT is to invest in NFT Index (NFTI) or in tokens of platforms that work with NFTs. Concerning your question, I don’t completely understand what you mean. Is it a ERC-20 token called NFT or ERC721 tokens of this platform? Make yourself clear.