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Author Topic: Just trying to understand how NFT works when trying to sell  (Read 234 times)
BIT-BENDER
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February 05, 2022, 08:07:48 PM
 #21

NFT is like your every day goods encoded, it isn't sure you would sell it even if the price is below $0.1. there are many things you should understand before you venture into Nft, right now you should know that many companies are involved in Nft it isn't as simple as it was, I rather refer to it as a power tussle or wealth, NFT would have been best to join them an not now, why because many projects are already rushing into it and there goes the scam possiblities too so it is very difficult to make something out of it
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February 05, 2022, 08:18:23 PM
 #22

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?


Correct. Look at it as a digital collectible, membership token, Utility access key, etc. If the floor rose from 0.03 to 0.06 and you want to sell you're more likely to sell by "breaking" the floor and listing at 0.059 lets say. There are a ton of automated tools people use out there to "sweep" the projects floor, so if you see no movement at the 0.06 but offers steady at 0.045, try somewhere in between that if you absolutely need to sell. You can also try bundling NFT's together on OpenSea for example to entice collectors by saving gas if it is on ETH. 
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February 05, 2022, 09:20:41 PM
 #23

You briefly summarized everything about nft. If there is no buyer, try to give from 0.001 eth, it doesn't really matter. As you said, it does not need supply, you can sell it at the price you want, if there is a buyer as you want. The important thing is its feature and what it serves. Other than that, there isn't much to say, frankly.
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February 06, 2022, 01:23:43 PM
 #24

Hype. Honestly, that is the only thing that is keeping the NFT things going for this long. The reality is that we are not really doing anything exceptional with the technology that NFT is bringing us. All of these games and arts that NFT is used for is like 1% of what it could be used for. Even just the patent world would be like an insane entry for it, if every single person who owns patent of anything could use this as a great way to make their proof.

This could also allow patent world to become global instead of local, some patent you have in USA definitely doesn't bother some people in China and they make a copy of it very easily and we all know it. NFT could prevent something like that, and sanctions could be used against people who break these NFT patents.

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February 06, 2022, 11:20:28 PM
 #25

this is like appreciating a work of art and people are interested in your work and he thinks there will be many people who are interested too he will buy it and about the price it depends on your work whether your work has a strong appeal
Totally agree with this but remember that there's no price range for the art coz the price still remain subjective.



not if your work is good there will be people who will buy at a high price.
This will remain to be subjective for any users. it doesn't mean a bad art will have low value and good art will have high value. it's not about that. that's about people's opinion about the art. Sometime the bad art seems to be a good art for some people and good art looks so bad for them. in another case there are also people who think that if the good art must have good value.
Remember that the art or creation already published on opensea needs to attract people to buy their creation.

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