Just trying to understand how NFT works when trying to sell

[TreyARC]

Sorry if this doesn't make sense I'm just trying to figure out more about NFT, they aren't actually like coins and tokens when trying to sell them right? Even if I buy a NFT at 0.03ETH and a week later it rise up to 0.06ETH it still depend on if there will ever be a buyer that will be at this new price right? No volume or liquidity like tokens and coins listed on exchange, am I right?

[JeromeTash]

Sorry if this doesn't make sense I'm just trying to figure out more about NFT, they aren't actually like coins and tokens when trying to sell them right?

True, there has to be a willing buyer on the other side for you to be able top sell your NFT. It's more like buying an Art piece, and then you try auctioning it. Sometimes you will get a buy who will buy your art piece at a good price, sometimes no one will be interested in buying it

No volume or liquidity like tokens and coins listed on exchange, am I right?

You are right

[Rikafip]

If you plan to invest in NFTs and then resell them, just be aware of the fact that initial sellers are often buying their own NFTs just to get an impression that there is some interest, so you don't end up with some expensive NFT that you thnik there is a lot of interest just to find out that you can't sell it.

Whole NFT market (especially those JPEGs) is currently in a big bubble and you don't want to own bunch of them once that bubble bursts.

[Upgrade00]

Even if I buy a NFT at 0.03ETH and a week later it rise up to 0.06ETH it still depend on if there will ever be a buyer that will be at this new price right? No volume or liquidity like tokens and coins listed on exchange, am I right?

NFTs do not operate as regular cryptocurrencies, which is one out of the total supply and a sale of one coin determines the price of the whole crypto. NFTs are different and each is sold differently as such there can be no price increase without the seller fixing the price or the buyev placing a bid, a digital art cannot simply rise I'm value, except it is put in a type of auction where no price is set and the value can ride based on seller's demands.

You are right about no volume or liquidity.

[Trojane]

Sorry if this doesn't make sense I'm just trying to figure out more about NFT, they aren't actually like coins and tokens when trying to sell them right? Even if I buy a NFT at 0.03ETH and a week later it rise up to 0.06ETH it still depend on if there will ever be a buyer that will be at this new price right? No volume or liquidity like tokens and coins listed on exchange, am I right?

That's very true dude; it all depends on the availability of a willing buyer that will accept to offer the due price for the commodity and YES you'll make your profit but if you don't get in touch with a good buyer or you don't even have a buyer at all to sell them, then they're gonna fall on auction and definitely it's not gonna be the same price with which it was bought, maybe...maybe not!!
Non-fungible tokens aren't investments to me...

[bhooscream]

Exactly, it depends on there is a person who wants to buy that NFT or not. It is very different with crypto coins that you can sell them instantly. That's why many people are very careful to buy NFT because it is very risky. NFT can be garbage if no one is interested to buy it, while crypto coins commonly should always have the demands to buy it on the market, especially those top coins. I suggest to not hold NFT for a long time, better to sell once it is still trending.

[odolvlobo]

...Even if I buy a NFT at 0.03ETH and a week later it rise up to 0.06ETH it still depend on if there will ever be a buyer that will be at this new price right?

The typical NFT is unique (aka non-fungible). The price of your NFT will rise to 0.06 only if somebody buys it from you for that amount. You can estimate or predict what it might sell for based on recent prices of other NFTs that might be similar, but you don't know for sure until somebody makes an offer.

[hatshepsut93]

Even if I buy a NFT at 0.03ETH and a week later it rise up to 0.06ETH it still depend on if there will ever be a buyer that will be at this new price right? No volume or liquidity like tokens and coins listed on exchange, am I right?

Price only changes when there are trades, so in your case it will only be 0.06 ETH when someone buys it for that price. But there are orders, so someone can put a buy order for 0.06 ETH, so you could be able to sell for that price while the order is up.

The low volume creates a big risk for buyers, because it's possible to "pump" the price of an NFT with wash trading and then the buyer won't be able to sell the NFT to anyone to get even a fraction of their money back. Or it could even legitimately lose value if no one is interested in it anymore.

[witcher_sense]

Sorry if this doesn't make sense I'm just trying to figure out more about NFT, they aren't actually like coins and tokens when trying to sell them right? Even if I buy a NFT at 0.03ETH and a week later it rise up to 0.06ETH it still depend on if there will ever be a buyer that will be at this new price right? No volume or liquidity like tokens and coins listed on exchange, am I right?

Given that each non-fungible token is somewhat unique, cannot be copied or printed, the supply of it is always only one unit. Unlike traditional cryptocurrencies which usually have millions of indistinguishable, equal, homogeneous units that constitute the supply, all NFTs should be distinguishable and unequal to be considered non-fungible and valuable.  As we all know, the liquidity of an asset refers to the total amount of that asset available on the market at any given price. The liquidity of NFT will always be equal to one unit at best because they are unique. The volume, on the other hand, is the number of trades that take place during some period of time. Volume highly depends on the demand for an asset but given that liquidity is one unit, that will also put constraints on possible volume.

[passwordnow]

You're right OP. That's spot on explanation and understanding on how NFT market works. Just like the normal market, there's the buyer and seller and if you're the seller. Then, the buyer should be at least willing to take the price that you've set or the opposite, it's the seller that will adjust if there's no one that's putting par with his price. So the adjustment will depend on the seller if he's good with the highest bid price for that NFT. Usually, if you just want to dump it, you'll sell whoever bids the highest immediately.

[X-ray]

Sorry if this doesn't make sense I'm just trying to figure out more about NFT, they aren't actually like coins and tokens when trying to sell them right?

Yes that's different and that's so difficult to sell your token if there's no someone who interested with your NFT. That means your NFT was not liquidity unlike the token or coin that traded on the exchange site. If your NFT didn't get any demand and you will not able to sell your NFT. that's why owning NFT didn't a good thing even if your NFT has very big value and it doesn't mean you can sell it instantly like when you owned tokens.

Even if I buy a NFT at 0.03ETH and a week later it rise up to 0.06ETH it still depend on if there will ever be a buyer that will be at this new price right? No volume or liquidity like tokens and coins listed on exchange, am I right?

Yes and you're totally right about that. that's why using NFT to store your value was the worst thing that i have ever seen. You can't sell your NFT instantly.

[zulfi125]

You understand about the volume and liquidity of NFT but I suggest if you are only buying selling NFT then you have the opportunity to make a good profit from NFT so if you purchased at ETH 0.03 and the price is gone up then you should book your profit if the buyer is available and always buy good NFT don't buy worthless NFT that have no buyer in future so you can also suffer loss if there will no buyer of your NFT.

[naira]

In addition, if you are not an influencer, you will have a hard time waiting for the NFT you sell and no one buys it. The problem now is that the NFT market is becoming increasingly unclear. You can sell yet but that also doesn't mean that anyone will buy. Isn't it easier in crypto, besides being easy you don't have to worry about buyers? It's enough to exchange the price and make your entry disappear by itself. Therefore, for me personally, I don't take NFT too seriously.

[kojektea]

Well, we have trading volume but it's not like liquids are put on the platform to keep prices down. In my opinion NFT is decentralized fair. we can sell and buy when the item really has value.

[eXtremal]

Well, you're right. NFT is traded in a fair decentralized manner. We really make two people who transact trade. The existing volume on NFT trades is a calculation of the value of trades entered previously, we do not need liquidity, because we are selling goods.

[molsewid]

In addition, if you are not an influencer, you will have a hard time waiting for the NFT you sell and no one buys it. The problem now is that the NFT market is becoming increasingly unclear. You can sell yet but that also doesn't mean that anyone will buy. Isn't it easier in crypto, besides being easy you don't have to worry about buyers? It's enough to exchange the price and make your entry disappear by itself. Therefore, for me personally, I don't take NFT too seriously.

A quite reality and this is really happened inside the space of NFT platform, you will be able to sell your NFT work inside the platform but the thing is you don't know if it would be sold. I think in this thing it would take some time to sold or else worst is you can't sold it because none will be interested about it. So yeah, being an influencer in NFT space is such a big factor to sold your artwork and if that happened the profit is quite good enough that's why I think there are more artist are wanted to show their talents and works to everyone.

[jrrsparkles]

Sorry if this doesn't make sense I'm just trying to figure out more about NFT, they aren't actually like coins and tokens when trying to sell them right? Even if I buy a NFT at 0.03ETH and a week later it rise up to 0.06ETH it still depend on if there will ever be a buyer that will be at this new price right? No volume or liquidity like tokens and coins listed on exchange, am I right?

Someone has to buy for the price you expected to sell that's same as centralized exchange platforms but since NFT is rare there we can't expect much trading volume. And also while moving NFTs you have to keep the balance of ETH or BSC or corresponding coin where the NFT runs to pay the gas fee.

[bitkanu]

I don't know why some people called NFT as store of value or a way to invest their assets while the fact that owned NFT is the same like you have owned a product that needs to be sold to others. That makes the process is very complicated. If your NFT didn't popular and it will never be sold and none will be interesting to buy your NFT. No buyer and your NFT will never be converted into the fiat money.
NFT is pretty similar like selling your creation. That means as long as it has demand and you're fine but otherwise if that didn't have demand and your NFT will stuck and it will never be converted to the money.
Selling NFT totally depend on the popularity of your NFT and your luck.

[Skinny48]

The next thing that can be called bubble is NFT, no real store of value of you ask me, you can only sell if people want to buy and I heard that some criminals are intentionally buy them just to store their ill gotten money is this wrong.

[Reid]

That's correct, so you need to be careful what you will purchase. Be sure that it's market is high and there's a bunch of investors who are willing to pay for it in the future if you want to hold it for a long time. Just like the paintings and arts but those have physical attributes which for some people are fine for display in their houses or just to brag about. But with NFT's you cannot do such a thing, you will need to invite them to your phone, computer or have a 100 inches TV that is always powered on just for people and you to see.