NFTs are getting very expensive. In this video I talk about the options you have to start investing on a small budget.
First we have to understand why they’re expensive in the first place (Bored Ape Yacht club now has a $40k floor, Cool Cats has a $5K floor, cryptopunks have a six figure floor, etc). Partly it’s based on demand outpacing supply, but another reason is that the vast majority of collectible NFTs are being sold on Ethereum right now where gas fees are incredibly expensive. These fees also tend to spike when there’s a lot of activity, so you often see people paying 2-3x the price of the NFT in fees alone when they mint something.
As a result, it doesn’t make sense to launch NFTs at super low prices because the gas fees make it pointless to buy them. So until the gas fee problem is resolved, there are four main options I recommend.
Option 1: If you want to buy “whole” NFTs you’ll probably need to start off on other chains like Solana or Cardano.
The pros of using other chains are that
1) gas fees are incredibly low (less than a penny on Solana) and
2) competition is low because all of the attention is currently on Ethereum (this might change).
The cons are
1) a less liquid market, and
2) less sophisticated infrastructure around marketplaces and sales data
Option 2: If you really want to stay on Ethereum then I recommend checking out fractionalized NFTs. With every passing week I’m more confident that this will disrupt the current NFT market, it’s really a big deal since soon you’ll be able to own a piece of virtually any expensive NFT (the cryptopunks floor grew 50% last week, for example).
Option 3: Gaming NFTs on other chains. With games you’ll find that most games are already using an Ethereum side-chain (like Axie Infinity) or are on another blockchain altogether, so you have more options. I highlight some popular games where the initial investment will be $100 or less.
Option 4: NFT-related coins. I run through the current landscape of NFT coins as well as a Metaverse index if you rather own a small piece of every major coin.
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1:09 is Ethereum broken?
2:10 NFTs on other chains: pros and cons
3:47 NFTs on SOLANA
5:01 NFTs on CARDANO
5:51 Fractionalized NFTs (this is the future)
7:47 why NFT games are different
8:22 Binance Smart Chain is growing
9:16 my opinion on BSC games
10:00 Blankos Block Party
10:18 NFT Coins on Coingecko
#buy #great #NFTs #smaller #budget