Hi, everyone. Welcome to today’s video on today’s video, we are going to discuss how rich peopleare getting richer by trading NFTs. What are NFTs. There is a lot of commentary, a lot of extreme narrations, given some people say that itis extremely worthless. So if you listen to all this commentary, you will end up being flustered and you would not know how to playin this NFT market.So we are going to decodethe part theory of NFT. I’m going to help you understand how youneed to go about playing in the NFT market in case that is somethingthat interests you. Now, before you drop off saying that you know what I’m not interestedin and don’t care. This is not something that I would inconvenience. Please listen to this video. Still, please listen to this video.Very, very important because it will help you understand how to understandvalue on any new commodities. This is applicable to NFTs. This is applicable to a cluster of interesting thing, including the investmentcourse that I’m launching. So understand this video, holistically, only then you will understand the part concept on how rich peopleleverage money to constitute more money. And that is a practicethat even you can borrow. So before I jump into the nitty gritties of NFTs, let me first and foremost, tell you a basic narrative about a company called a Petrock, or rathera product called a Petrock.This looks like a picture of a exceedingly shinyrock that has somewhat been animated. You will scratch your psyche and you will ask that, hey, you know whatthis is something like? Is it a doll? Is it like a electable? What is it exactly? This just searches quirky. So let me help you explain.Okay. So let me first and foremost, tell you the story of Petrock. Now, here is the picture of Petrock. This is what pet rock looks like.And you will see that. Okay.This looks a lot like a exceedingly glistening, smooth various kinds of a rock-and-roll with someanimation proceeded on it.Why would people buy this nonsense? Guess what? How countless parties bought this stuff? There were close to 1 million baby cliffs that were sold and thesepet cliffs are nothing. There is no manufacturingthat is going into it. Essentially what Pet rocks. They were smooth, glistening rock-and-rolls. Somewhere in Mexico, one inventor got the idea and he started selling domesticated rocksand became a millionaire. Now you would say that.Okay, you know what? This is probably an exception. This does not happen all the time.Ok. So let me tell you the story of crocs. So crocs are slippers with defects in it.Right. So here’s a pictureof crocs for you to see. I am sure I am 100% assured that either you would have purchase crocs or you wouldknow someone who has bought crocs and it is a multi itmillion dollar enterprise. Now, the objective or the spot behindtelling you these legends is that as general gatherings, sometimes we assume that you know what this particular thing or thisparticular makes gaze truly off.Who would go and buy this stuff? But parties are still becoming and buying that stuff because they arederiving some value out of it. If you go on the Internet and read abouta new hysterium called as NFT nonfungible tokens, you will see that the Bippleart got sell off $ 70 million. You will see that Jack Dorsey’s firstweek get sold for millions of dollars. You will scratch your principal and you willask, and you know what this is like crazy. This is just pure madness. Why is this digital artistry get sold forsuch millions and millions of dollars? Because let’s break down Jack Dorsey suitthat got sold for millions of dollars. Now, as the owner of this Jack Dorsey’s first tweet, if you own the NFT of thisparticular tweet, you are essentially owning thisJack Dorsey suit in a digital format.Right? Your name would be there. For example, if I would have bought it, my name would have been there. Everyone could understand that he that akshat owns the first weekthat was ever done on Twitter. It’s not as if that I can preventyou from seeing that week. I cannot hide it.It is continuing. It’s not as if that I canmake changes to this week. I can’t do that either. So what is the pointof me owning the coming week? And you will dismissthe part NFT market? Because this is what is currentlyhappening in the NFT market. Now let me break down systematicallyand let me help you understand what NFTs actually are and why or why not the wholevalue and what you should do with this.So first and foremost, NFT simply intends or in simple terms, NFT necessitates nonfungible signs. So let me help you understand thesekey expressions unusually, very quickly. So non fungibility signifies so we willfirst understand what fungibility intends. So fungibility meansthat an piece can be replaced. For example, I have these twoDecathlon shirts with me. They are off exactly the same color. I have bought these two shirts because many of you indicated that heyakshat you do appear good in these colours. So next month, too, I am going to buy two more shirts of exactlythe same color from Decarson. Are these shirts replaceable? The rebuttal is yes. So are these fungible? Yes. So what is nonfundable? Nonfundable simply meansthese are not replaceable. For example, if you take a look at this bipple artistry which get sell off $ 70 million, is this art replaceable? Can you create another exact same skill? The reaction is no.For example , nonfungible wouldbe something like kohinoor Diamond. So kohinoor Diamond is just one of its category. It is in physical formats. Of track you understand the value of it. It cannot be replaced. You can’t buy another diamondand call it a kohinoor Diamond, right. So I hope you understandthe concept of fungibility now. The next persona that you need to understandis the concept of blockchain. Now is an entire video that I did on Blockchain that will help youunderstand that how blockchain technology. It’s a very big technology. It’s like Internet, such a technologyon which smart-alecky contracts are based. So blockchain is a technology, and it simply meansthat there is a central ledger. So blockchain simply means that it isan advanced form of Google Words. So on Google commands, what happens is that if you create a Google Word file and if you host iton a mas and if you have access to anyone, then all the people can comeand they can work on that document. That is what the conceptof central record is. And it simply means that anyonecan put in the entries.Whoever is uttering the records. Other people who are on that documentcan see those entryways and authenticate it. So let me give you a couple of quick samples to help you understandthe concept of blockchain more thoroughly so that we can then applyit to the NFT market. So what happens is that if you considerthe following example where I’m sending fund to your best friend in Tanzania, so it’s an African country, I’m sending coin to Tanzania, then what would happen? I will go to my HDFC bank account.I’ll tell my director that a manager we transmit $1,000 to my friendwho is sitting in Tanzania. So my manager will say that.Okay, immense actor. Give me $1,000 orequivalent in the INR form. I will refer him that moneyinstruct my bank manager to do it. So he will do it right. Then my friend will receive instead of $ 1,000 $ 990 because there willbe some intermediary prices. This that so what happens is that frommy side, my chronicle has been debited. For example, if I had $2,000 in my bankaccount, I paid $1,000 to my friend. So I’m leave behind $1,000. So this entryway vary or this ledgerchange happens on my bank breast. So on his surface, his account will be ascribed. So if he had, let’s say $2,000 in his bankaccount, then because I please give him $1,000, his introduction will show addition of $1,000, so he will have in total $3,000. And why are we the banka little bit of free? Because they act as an intermediary. Now blockchain actually solvesthis intermediary problem. You don’t need to have an intermediarybecause everyone who is doing these accounting deepens on my account and myfriend’s detail, everyone can see it. Who is on this blockchain network. For example, Ethereum isa blockchain network. If any alterations are happening on Ethereumnetwork, which is a blockchain located network or Bitcoin network, which is again, a blockchain based toil. Any reforms that are happening to these structure, everyone on thisnetwork can see it. Therefore, we don’t need a middleman when we are engaging with thisblockchain technology. Now you would say, OK, enormous, fine.We don’t need a middleman. We don’t need the class observer. How does this apply to NFT? Now let’s imagine a situation where you had Picasso who be applicable to paintbeautiful covers. And in today’s world, there would be another Picatowhose depicts we will talk about, or rather our future generationswe’ll talk about after 200 years. So if you are able to discover sucha Picasso like party right now and if we buy his NFT, you will haveproof of ownership of that NFT.Now you would say that akshat sounds good. What am I accurately get? Can you help me transgress that down? Okay, so this is what you are getting. You are getting proof of ownership.Why? Because on that central blockchain basednetwork, everyone can see that Akshat has acquired Jack’s first tweet and yourname will be written in golden symbols. So to say it on that blockchain network, and everyone can understand that. Okay.Hey, he is the owner of this NFt. Right? Similarly, if you go and buythe draws, the digital version of the paintingsof a brand-new Picasso who is up and coming. If you buy NFT from them today, today, when that person is not famous, if you are buying their NFT, and if such person or persons becomes notorious, then guess what would happen to that? N not you are buying. It is certainly move up in importance. And you can sell that ownershipto someone else at a last-minute stagecoach. So I hope this demystifies the factthat what you would actually own.If you are the NFT owner, you are able to own the rights of that NFT. So I hope this clarifies that if you are an NFT owner, the thing that youactually own is the proof of ownership. That’s it. That’s what majority of the NFTsare currently geared towards. Now you would say that user.Okay, immense. I’m the owner of this particular NFTof this up and coming Picasso guy. Can I make changes to this painting? The short answer is no. You might not have the Copyright to do it.Then you would say that. Okay, can I now only keep it for myself? I don’t want to show this draw to anyone because I findthis person to be great. He will become the next Picasso. Then I will frame this particular NFT on anexhibition and utter millions of dollars. Can I do that? Can I conceal this from the world? The rebuttal is no. In majority of the cases, you can’t even do that. And this is the reason why people aresupremely baffled because they assume that owning a particular thingallows you to make changes to NFT.No, in majority of the cases, you can’t do that. But it does not means that owningand NFT is not valuable at all. I hope you understand that when you have ownership of a particularpiece of an resource. An Ft is an asset. So if you have ownership of that special resource, you have the bragging rights. You have the social media privileges. Everyone can verify that akshat actuallyowns the aft of the first Twitter tweet. She does not own it.Someone else does. But I’m just trying to make a pointand help you understand that owning and NFT means that everyone can verifythat you are the real authentic proprietor. And that is what the value of NFT is.People confuse it. People assume that is, since you are not physically owningthat NFT, you can’t make changes to it.You can’t hide it from the world countries. Therefore, there is no value to this NFT. That’s a highly debatable point. And let’s speak about that.Now, you would say that. Okay, he accept.I understand the facts of the case that if you own an NFt, you own the proof of ownership, which is awesome. You can’t stir physical modifies. You can’t obstruct it from the world.That makes me a little. Iffy so, can you explain a little bit more what appraise is owning this NFTbringing to me if I am an NFT owner. So here are a few key valuablethings that this NFT can do for you. Number one, it acts as a supermarket of build. For example, if I am the owner of that Jack’s does first Twitter Tweet, I have the bragging rights.And guess what? I can sell this proofof ownership to someone else. If you want to buy it from me after five years, let’s say that Twitter becomes evenmore popular, then I can sell this proof of ownership to someoneelse and need more money. The second key advantage of owningand NFT would be the social leveraging. For example, if the world knows that akshat is owning the NFT of the firsttweet, then guess what? I’ll be invited to hire social roundabouts. I’ll be invited by different magazines.I’ll be invited by different newspapers.Whatnot right? So it gives me social tout privileges. That’s another key advantage. And third and the most lucrative advantage of owning an NFTs, the tradingvalue that it generates. The third and the most obvious advantage of owning an NFTs that you canbuild trading based transactions. And this is what rich people are doing. So let me explain it via two examples, when bipple artistry was sold for $ 70 million, there was a person. His name is called as. He’s called as Francois Henry Penalt. I’m contributed French. I don’t know any French howhis specify is pronounced.But bottom line is that this rich multibillionaire ceased up forming$ 6million in Commission because the auction house through which this NFTwas sold is called as Christie. It’s one of the biggestauction mansions in the world. He’s the owner of that auctioneer now. And that auctioneer house took committees at 10% and this person becamericher by roughly$ 6 million. Now you would say otherokayyou know what this is like? Rich people’s game. People are building businessesaround NFT establishing more fund. Some rich guy buys Twitter tweet today, some rich guy buys like bipple skill or some rich guy buys like Jack’s firstweek sell it off after five years. Okay, fine.That represents sense for rich people.What about us? Should we as normal retailinvestors get into this NFT in. So this is where smartcontracts will come in. So let me demonstrate the utility of smartcontracts and how it maps onto NFTs. Now here is a very recent news and there was a hard work that was therewas an artwork between sound icon construction. I don’t know.I don’t listen to his music. If you do do explain ifyou like application or not. And visual master Shantanu has Aricaand this NFT was sold for 391 $ 8. 391.8 $ of leading soul. Now two things to notice. One thing is that 391.8 $ is not massive quantity. It’s like approximately 300. So this is not some crazy valuation. Even normal retail investors couldhave invested in this type of NFT. Now with smart-alecky contracts. There is something interestingthat can go on in the NFT one. You will have these various craftsmen, for example, Ubin Natya Sonia, if you’re Ed Chienan orZen Malian or if Miley Cyrus fan.I don’t know.So these developers can create basic NFDS. Right? And they will give you a option. Or they might give youan option that he buy this NFT. In addition to providing that, you can do a 30 hours Skyfall with me right now. This becomes like a combined entity. This is very interesting that if you own this NFT for five years, you get a private dinner with me. Or if you own this NFT, you get fivetickets to my melodic concerts. Or if you own this particular piece of NFTthat I as an creator is coming out where you get to go and travelthe world with me. Whatever.Right. So this becomes like a newincome stream for artists. And what the hell is that do to the the world? It will assist fans connect with craftsmen, artists, monetize more. There is nothing wrong in terms of monetizing as long asthey are adding value. For example, I’m a big sonu nigam fan.And if he gives me the option of owninghis NFT, I 100% buy it with the functionality that Iget to spend time with him. So I have 100% make love. I’m a big Mark Cuban fan. So if Mark Cuban comes out with his ownNFT and adds a functionality that he goes spend a date with me and I will goand buy it for a great deal of money. Why? Because I as a love would get a lot of value from owning thisNFT in a different format. It monetizes the luminary in some manner and it gives me value in this particularexample of spending a day with Mark Cuban. I am interested in buildingdifferent organizations. If I can pick up his brain on a rangeof items, even if I have to expend ten lakhs a date to spend with him, I is certainly take at least a period with him so that I can understandmore about his thought process.And even if I can pick two, three, four minds from him and implement it, I am emphatically going to makea positive ROI on that investment. This is how you also needto think about the NFT market. There are so many NFTs floating around. You don’t need to buy every single NFTand start commenting on every single NFT. So in passing. And in summary, this iswhat I will be you with. Number one.If you are a high network individual. Are NFT markets good for you? Yes. You can literally build NFTbusinesses out of this. This is what influenceslike Gary we are doing. Kim Kardashian is doing a lot of differentbig, big celebrities are doing. Number two.Do NFTs regarded importance for Creators? The rebuttal is yes.Why? Because it hands them added incomestream and it allows followers to interact with them it is therefore has valuefor both masters and fans.Number three, what about normal kinfolks? Do NFTs Add value to normalpeople like you and me? The rebuttal is it depends. If the if it is giving value to you in some capacity, then yes, it’s probably a good financing for you to go and see because it isgiving you some type of a value. Please understand the amount of moneythat you are spending from anything. That’s one part of the equation. And what value are you get out of it? If the importance is more for the pricethat you are paying there and of course, that investment is positive, then youshould go ahead and buy that n.So this raises us to the final question that what is it that I amdoing with the NFT market? I am checking it closely. Majority of these NFTs are pointless. I has not been able to waste any coin on it. There might be some really good NFTs that might come up in the futureand I am impeding a close eye on it. So I hope you experienced the video. Give it a thumbs up and let me know if you have any questions and Iwill see you the next time.
Get in touch for your NFT project
