WHAT IS AN NFT?
An NFT ( non fungible token ) is a special type of cryptographic token ( cryptocurrency ) that represents something unique, unlike other cryptocurrencies such as Bitcoin, Ethereum, etc., NFT's are not interchangeable. These would be considered fungible tokens. Fungibility means the ability of an asset to be interchanged with other individual goods or assets of the same type.
Some NFT's are used to represent in game assets and are controlled by the user instead of the game developer.
NFT's are a new way to invest and can be used in a variety of different applications such as art, crypto gaming, contracts, admission tickets, etc.. The whole point behind non fungible tokens is to create digital scarcity and verifiable ownership.
Today NFT's are being used in forms such as digital trading cards, virtual worlds, rare art, and our personal favorite and a current project we are rolling out, admission to digital products such as our course. You can create multiple NFT's that once purchased, gain you access to a passcode that enables entry into private membership sites that only someone with that specific NFT can access.
A great platform to learn about NFT's as well as have access to purchase and earn them, is GYB ( Grow Your Base ) GrowYourBase (GYB) is an online earn & learn education platform where users can LEARN about available digital assets, ENGAGE with digital asset companies to socialize their experience and EARN credits to acquire valuable digital assets available on the GYB platform without having to spend any of their own money. Although spending your money is an option as well. They have a membership program that varies from free, Whale Pass, Power Pass, and Epic pass.
The Whale Pass is a part of our long term investing strategy for many reasons. One of them being that art has always been a good way to store wealth long term. But this isn't just your average art, it is backed by real world assets such as real estate, gold backed coins, and things like music royalties. The whale pass allows you to pay a monthly fee to passively obtain rare NFT art and store it in your account.
The most value for little risk is the Whale annual. To put it into perspective, We had over doubled our initial investment in the first week as a whale member. The long term ROI will dwarf any initial cost.
Grow Your Base also plans to allow you to take loans against the value of your assets, similar to DEFI apps like NEXO.
Grow Your Base has been a wonderful resource that has led us down the rabbit hole of NFT's to find platforms that are revolutionizing the VR and NFT space such as The Sand Box, Superworld, Terra Virtua, Cryptovoxels, Decentraland, Gala Games and so much more.
"The Sandbox is a community-driven platform where creators can monetize voxel ASSETS and gaming experiences on the blockchain"
For us, this is where it gets interesting. On these platforms you can enter a virtual world where you can store, view and use the digital assets in your investment portfolio to show your friends or play in online blockchain games. These assets can be moved to other games and platforms because you are the owner.
An example of one of the blockchain games that utilizes digital NFT technology is Sorare.
click the image to visit Sorare
Sorare is a fantasy football game, or if you're in America, "soccer" where players buy, sell, trade, and manage a virtual team with digital playing cards. The game uses Blockchain technology based on the Ethereum blockchain and was developed in 2018 by Nicholas Julia and Adrien Montfort. These cards are just one of many ways savvy investors can get a jump start on investing in NFT's.
The one pictured above belongs to Smart Digital Payments. It is part of the free pack they give you for signing up. The cards, ( just like any other NFT) range in value based on rarity and commonality. The value is also effected by the popularity of the player. The more you engage and play the game The higher your chances are to obtain rare cards. Just a fun way to grow your investment portfolio.
Virtual land is one of our most promising investments in our portfolio in my opinion. When thinking about buying virtual land there are a few different aspects that stand out when it comes to ROI (return on investment). One being that in order to purchase these pieces of land on the block-chain one must first obtain Ethereum, Wax or whatever respective coin on whichever blockchain your land NFT is on. Crypto is constantly raising in value and is projected to continue to do so over time. So the more land you purchase when the price is lower, the more it is worth when mass adoption occurs and crypto prices soar.
That doesn't even factor the profitability of the % of the commerce done on your plot of land! That's right, just like when you own land and rent it out to developers and billboards for advertisers etc. You will be able to lease the VR space on your plot of land to an endless amount of advertisers and be able to capitalize on the business that takes place within that space. Take Superworld for example.
SuperWorld is a virtual world where users can buy, sell, collect, and curate over 64 billion unique plots of virtual land.
The SuperWorld virtual real estate platform is mapped over the entire surface of the globe, allowing users to purchase —literally—any place on Earth. From skyscrapers and stadiums to historical monuments and iconic structures including wonders of the natural world, when you step into SuperWorld, you’ll truly make a world of your own.
When you purchase a plot of virtual real estate in SuperWorld, you’ll not only own a one-of-a-kind digital asset, you’ll also become a stakeholder on their platform and share in revenue created on your virtual land from user activity, including:
Grand View Research , when referring to the question " How fast is VR growing?" responded in an article:
The global virtual reality market size was valued at USD 10.32 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 21.6% from 2020 to 2027.
The expected growth of Blockchain global market size is projected to grow from 3.0 billion to 39 billion $USD from 2020 to 2025.
All of these things combined makes land in Superworld a great option as a high risk high reward long term investment for Smart Digital Payments. The chance to get in on the ground floor of a global platform of this magnitude is a great opportunity.
^^^ click the link above^^^
Another way to utilize the NFT technology is through web domains.
We are proud owners of a decentralized "unstoppable domain" that goes by the name of smartdigitalpayments.crypto
Unstoppable domains isn't like your everyday run of the mill web domain. Unstoppable domains is a decentralized web domain built on the blockchain. according to businesswire.com Unstoppable Domains is a San Francisco-based company building domains on blockchains.
The company is backed by Draper Associates and Boost VC and has received grants from the Ethereum Foundation and the Zilliqa Foundation.
This domain allows the user to embed their cryptocurrency digital wallets to the domain name so people who want to send you money can just send it to, in our case, smartdigitalpayments.crypto and whatever currency they send goes into the respective account. No more routing numbers or account numbers. No more copy pasting private keys.
One of the great attributes of the unstoppable domains is their decentralized, encrypted chat rooms. Come find us. Down below is a snippet from our Instagram showing what the platform looks like when its all set up. Get your unstoppable domains here at Unstoppable Domains
Learn more about cryptocurrency investing, traditional investing, the difference between the two and the risks and rewards of investing, in our Crypto College course below.