Can't Afford an NFT? You're Not Alone

Can’t Afford an NFT? You’re Not Alone

NFTs have been getting all the media attention lately, but it’s not just big-budget buyers who are interested in them. Case in point: Beeple, who says he was just trying to sell an NFT when someone offered $69 million for one of his creations, which currently has no associated game. If you can’t afford to buy yourself an NFT, don’t worry — there are other ways to get involved with this new frontier of blockchain games and crypto collectibles!

Outline the problem

Sure, you might be able to afford an NFT for $69 million if you want one badly enough, but if you’re not that wealthy there are still ways to start acquiring them. The same goes for Ethereum-based assets.

If the market is too high or it’s an ICO not yet available on exchanges, consider looking at lesser-known assets to purchase or trying your hand at creating your NFT! Maybe they’ll end up as valuable in the future as an asset like da Vinci’s Fountain here. There’s a lot of potentials there, just waiting to be unlocked.

How can we fix it?

While I would love to get an NFT from Beeple and he wants you to be able to afford one too, I also feel that we need some way for those of us who can’t afford a $69 million price tag to experience his work. I think the idea that on the other side of paying (a lot) is the access and use of an NFT is excellent. But how do we make it accessible?

One idea could be by letting those who can’t afford an NFT buy vouchers with varying amounts in exchange for $100 worth of BEEP tokens (the pricing may vary depending on what currency they are using). The vouchers could then give access to different pieces of artwork but this was time-limited, like three months or something.

What are current products out there trying to solve this problem?

For those who can’t afford an NFT or any other product on a blockchain, there are a few products that allow you to borrow products like Decentraland’s land auction. You can also sell your NFTs later in life when they’re worth more money or even pledge them to raise funds for your charity of choice.

Other options include Enjin’s built-in marketplace and Utrum Platform’s lending system as well as third-party providers such as BlockMason Credit Protocol and Elysian Fields Holding’s Access Network. You might not be able to buy an NFT for now, but we hope this post has made things seem a little less unattainable.

Why are people flocking to CryptoKitties despite its flaws?

So, why are people flocking to CryptoKitties despite its flaws? The answer may lie in the fact that some NFTs have become very expensive, which can make them unaffordable for many.

Due to the success of the game and the value attributed to digital assets within it, many customers have turned away from more popular platforms such as Steam to chase after an NFT.

How can creators break into this space and make a profit selling an NFT?

  1. Establish a plan to produce a lot of assets that people will want. NFTs are novel and unique, so the first thing you’ll need is an audience. This can be done by hosting giveaways or trying to build relationships with the communities of other NFT creators. Whatever
  2. your strategy may be, the goal is getting people interested in what you’re doing enough for them to follow you on all forms of social media. Remember that this method doesn’t work in isolation! Once you have a following, start creating as many NFTs as possible and engaging with your followers often to keep them excited about it.

Step 1 – Choose your platform wisely

The initial shock of the $69 million sale price is a lot to process, but it’s important to remember that you are not alone. While starting an NFT can be expensive, there are options for people who have limited funds and/or only want to invest a small amount of money.

The most inexpensive way to start investing in non-fungible tokens is by purchasing one with an estimated resale value of less than $10 on an auction site such as OpenSea.

There are also platforms where developers can create their own NFTs using a do-it-yourself toolkit, meaning creators don’t need any technical skills or large budgets to design and release their own unique NFTs on the blockchain.

Step 2 – Find a Collaborator

One of the best ways to turn a profit from an NFT without breaking the bank is to find a collaborator. You can leverage your partner’s network, social media following, and knowledge of the industry to extend your reach.

Plus, if you find a partner who lives in another city and only spends time at home on weekends, you’ll never have to worry about dealing with weekend-only traffic!

Step 3 – Build hype without breaking the law

Look around on Telegram and you’ll find plenty of threads where users are collecting a bunch of NFTs and asking for donations to purchase them. You may not see much change in the quality of your token holdings this way,

but it can feel pretty good giving away a little bit of what you have. And if you want to spice things up, hit the (hyperlinks) to donate some ETH or other coins and get an additional NFT for yourself!

Step 4 – Register as a business

Some people may not be able to afford NFTs. However, that doesn’t mean they are excluded from cryptocurrency-based transactions and game economies. The ability to trade, buy, and sell assets in decentralized markets is open to everyone who has an Internet connection. These tools have the potential to disrupt the entire industry of digital goods by eliminating barriers for gamers.

Step 5 – Sales, Marketing & Promotion 101

The biggest concern I heard from my colleagues is that they can’t afford an NFT. But don’t let that stop you! You can get a game on Steam or your website and start earning money there, then use those earnings to buy an NFT. Don’t let the high price of an NFT keep you from owning one – just put in the work to save up and make it happen!

Conclusion & Takeaways (How crypto collectibles can become mainstream)

There are several issues with crypto collectibles and flaws which still need to be addressed. One thing is for sure: if we want crypto collectibles to become mainstream, people have to spend. Whether it’s the purchasing power required for successful development, or the real-world funding necessary for widespread adoption and future growth, it doesn’t matter how much you can’t afford an NFT right now – you’re not alone.

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