October 2021
Beginner
288 pages
5h 50m
English
Content preview from The NFT Handbook
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CHAPTER 8Buying NFTs
There are millions of non‐fungible tokens (NFTs) in the various NFT marketplaces. Say that one or two catch your eye. If the price is right, why not put in a bid or buy it outright?
In this chapter, we’ll go through, step‐by‐step, how to buy NFTs. We’ll also offer strategies for building a collection. But first, we’ll discuss various reasons to buy NFTs.
Why Buy NFTs?
A common question we hear goes something like this: “Why buy NFTs when you can access and display an NFT’s image or video without having to buy it?” At the heart of this question is a common sense argument: “Why pay for something that you can get for free?” But this is really a question concerning the technology that makes NFTs unique and scarce, which we covered in Chapter 1, “What Are NFTs?”
This section does not address the technological reasons for buying an NFT, but rather the underlying personal reasons. There can be quite a few reasons, some of which also pertain to why people buy physical art. Some of these reasons are as follows:
- Meaning
- Utility
- Investment
- Prestige
- Collecting
These reasons are not separate and distinct, and a few may apply to any particular NFT purchase.
Meaning
Like a painting or any other work of art, an NFT can move you emotionally, acting as a lens and uncovering deeper meaning or greater understanding, just like Beeple’s Cyberpunk‐inspired NFTs resonated with how people view and feel about the current state of the world and where we may be headed.
Perhaps ...
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I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.