10 Things to Tell Your Friends about NFTs
by corporate trash
As you get further into the world of NFTs, and change your profile picture on social media, many of your friends may be asking you more about them. But since starting out in NFTs can be intimidating, some people may need some basic pointers on why they should get started in NFTs, and how they can start.
Here is your ultimate list of reasons to teach your friends about NFTs and encourage them to join us in the NFT space — once and for all.
1. NFTs are a Great Intro to Crypto
Many people use NFTs to dip their toe into cryptocurrency as a whole. NFTs are much more visual and emotional than fungible tokens like Bitcoin are — so they are generally more fun and addicting once you get involved.
I didn’t own one bit of crypto when I bought my first NFT (NBA Top Shot) in January 2021. But a few months later, I went deeper into the rabbit hole. I bought a variety of crypto and learned how it felt to own such a volatile asset. I also started learning about DeFi (decentralized finance), liquidity pools, staking, and more.
If your friend already owns crypto, they’re one step ahead. They understand how to use exchanges like Coinbase, know that the value of tokens can vary drastically from one day to the next, and they understand digital ownership. All they need is to load up their crypto wallet and get started.
2. Big Companies are Paying Attention
2022 has started off with a ton of large companies (even the more traditional ones) getting into NFTs. Twitter launched a feature to connect your verified NFT to your profile picture, while Meta and Instagram are testing the same. Nike is hiring a Metaverse Director after purchasing RTFKT, Disney has four Web3 positions posted, Gamestop is launching a marketplace on Immutable X– the list goes on.
Whether you are looking to implement NFTs at your current workplace or not, this wider adoption shows that this technology is more than a fluke or fad. Real dollars at these well-known companies are being spent on entering the NFT space— I mean, Facebook literally changed their name to Meta to focus on The Metaverse.
3. You Can Collect NFTs Anywhere
Ever since the pandemic hit the world in early 2020, remote working has skyrocketed across a variety of industries. Many workers have never returned to the office, or have taken new jobs that accommodate their new lifestyle.
If you have a halfway decent computer and reliable WiFi, you have everything you need to buy, sell, and trade NFTs. Some even rely heavily on their smart phones and a mobile crypto wallet.
As long as the regulations in your area allow you to participate in crypto and NFTs, there’s no commute you have to do to get started. You likely already have the tools.
4. You May Make Some Money
One of the biggest reasons people start in NFTs is to make a profit off of buying, selling, and creating them. Many have even left their 9 to 5s after finding incredible returns in their initial investments, or finding full-time work in the NFT space. While everyone’s risk tolerance is different, there are opportunities to “flip” new NFTs every single day at this stage.
Understanding which NFTs are likely to be good investments takes spending a lot of time in the community on Discord and Twitter. Just like everything else in life, there is no easy path to long-term success.
As a collector, you should invest time to educate yourself in order have the best chance of finding projects to profit from. As an artist, you should learn what makes a successful and lasting community, learn from others, and seek what will make people connect to your art over others.
A reminder: wherever there are money making opportunities on the internet, scammers come out of the woodwork, ready to prey on beginners. Please remind your friends to only invest what they feel comfortable losing — and don’t forget about taxes.
5. Meet New People in the NFT Space
For me personally, one of the biggest unexpected benefits of NFTs are the friends I have made in a little over a year in the NFT space. When you are on Twitter and Discord most days a week, talking to the same people and engaging in communities, you start to become pretty tight knit.
My friends in the space come from a variety of different backgrounds, all different ages, different jobs — yet we all somehow fell into the same crazy NFT space at the same time.
I live in a major metro area that has many like-minded NFT enthusiasts and artists around, which makes for some incredible IRL meetup opportunities. But even if you don’t, the relationships you forge online are stronger than you think — you’ll find the most supportive people in the NFT space. They can even create job opportunities down the line. It’s a very small world, and the community is extremely talented in many ways.
These IRL NFT connections (particularly at NFT NYC 2021 in October) motivated me to ultimately leave my job in order to work in the NFT space.
6. Gamers are Welcome in NFTs
Games like Axie Infinity and Gods Unchained have already been building for years, while Guild of Guardians is one that is still being built. Cool Cats NFT is releasing a game based on their Cooltopia universe, where Cool Pets will go on quests. Gamers who grew up playing World of Warcraft, Magic the Gathering, and Pokemon may have a head start on the non-gamers in the space.
There are many gamers in the NFT community because some of the biggest use cases for NFTs are video games — but it’s just getting started. Some of the largest projects in the space are building out their own games, some being play-to-earn. Those who grew up playing video games are now seeing the fruits of their labor, as there is a prospect of making real money from play-to-earn games.
7. NFTs can Support Artists
Perhaps one of the most exciting parts about NFTs are that they reward artists directly, prove authenticity, and provide consistent royalties for their work. Whether you yourself are an artist or you just want to support them, you can find every art aesthetic that speaks to you in NFTs. They enable creativity and community connection in a very innovative way.
Stories like the one below are common in the NFT space. Artist GxngYxng left his job in the summer of 2021 to create the Ghxsts NFT collection, and the rest is history.
8. The Playbook is Unwritten
The best part about the NFT space is the sense of possibility with each day. People are finding their way as collectors and artists, and many others are discovering new career opportunities doing what they love — many of them for the very first time.
Web3 may be one the most unique spaces to be in because you can quite literally get rewarded just by participating. Airdrops are one example of this, like $ENS, but another less tangible example is what you learn every single day by participating and listening. By compounding that knowledge, you become well-versed in Web3 before many even know what it is.
It’s possible to build your own story and create your own type of success. NFTs have become the vehicle for many people to do this.
9. NFTs are Still Early
There’s a somewhat overused phrase in the NFT space: “We’re so early — WAGMI!” The thing is, it’s pretty true! The chart below shows monthly volume on OpenSea, the largest NFT marketplace. This doesn’t even include newer marketplaces like LooksRare. And this is only on one blockchain — Ethereum!
Many people in the space compare it to the early days of the internet, when many detractors were saying it was just a fad and had no real use in society. While this all remains to be seen, it’s definitely positive how much the trading volume and unique users in the NFT space continue to grow. You and your friends are not too late.
10. NFTs are Just FUN!
Join a community, have fun. That’s what counts.
TLDR: How to Get Your Friends into NFTs
You may not have had much luck getting your friends into NFTs yet, but with this list, you’ll be armed with some of the best reasons that they should join the NFT space. They can meet new people, find profit opportunities, support artists they love, and get in while we’re still early. Big companies are taking note of NFTs, and yours could be next.
Be sure to also send your friends to the MomentRanks beginner NFT content to set them up for success.