What are the hundreds of ads showing on social media about NFTs? There is just too much information that the mind needs to absorb. Is this even worth learning about? The answer is yes, more than a million dollars of yes.
Well, it’s crazy! The new generation just won’t run out of things to earn from. If one keeps looking for ways, the time spent on learning how to create multiple streams of income will eventually come to fruition. If still in doubt, just think that even the “already rich” Heart Evangelista uploaded her first NFTs in October 2021. National Basketball Association is selling the winning video clips of the best players, and their incredible moves from every game they had through the years.
Wait, back up a little bit. What does NFT even mean? How is valuable just like any investment? How is it different from cryptocurrencies?
The definitions and comparisons
NFT or Non-fungible Tokens
According to Merriam-Webster Dictionary, non-fungible means “a unique digital identifier that cannot be copied, substituted or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership.” NFTs can take the forms of any digital assets such as photos, videos, digital art, memes, and even one’s own selfies.
The trading platforms allow boundless creativity regardless of technical skills and artistic prowess. NFTs are tied strongly to one’s identity. There is only one Heart Evangelista, who’s a Filipino artist, fashion icon, and celebrity, who paints on canvas and even luxury bags.
NFTs vs Cryptocurrencies
Non-fungible items must be unique with verifiable identity, provable scarcity, and indivisibility. Imagine having lost a golden retriever and bought another one. They may have the same breed, look almost exactly the same, but the experiences with each of them can never be interchangeable. They are unidentical; they are non-fungible, and the changes are detectable.
Cryptocurrencies like Ethereum and Bitcoin can interchange by matching each other’s values just like fiat money. The verification of all NFT transactions happens through the blockchain just like Ethereum, an NFT is equivalent to a number of eths while eths are equivalent to fiat money just like dollars.
Sultan Gustaf Al Ghozali, who is he?
Ever heard of that name? No, he didn’t invent NFTs. That is the name of the 22-year-old Indonesian student who took his selfies every day for 5 years, sold his selfies just because he thought it would be funny to have someone collect them. Surprisingly, Ghozali’s collection reached 384 ether or more than $1 Million. Yes, there is so much money in the world and they can be found as long as one has the magic device called the smartphone.
Ghozali’s name and selfies are perfect examples of one characteristic of NFTs, which is the uniqueness of identity and scarcity. There will never be anyone else like Ghozali. Not even multiple plastic surgeries can mimic his face. The tiger prints on each coat sold will never be copied by synthetic technology. Michael Jordan’s favorite shirt will never have the same emotional value as the rest of his new clothing. The exact time Ghozali’s selfies were taken, the moments he was experiencing, the thought running through his head is frozen through his selfies.
As much as it is funny, silly, and surprising, Ghozali is smart to simply know that he is valuable, and people are still buying his selfies. In the case of the Mona Lisa painting, it is non-fungible, the same is true with the first-ever Twitter tweet: “just setting up my twittr.” by none other than its very own creator, Jack Dorsey. The first-ever tweet was sold for $2.9 Million
Condo living and Non-fungibility
The same principle is true with having purchased a condo. All the moments spent in it, the people who lived, visited, the kids who wrote on its walls, the buildings that have risen over the years—all valuable changes make it what its worth. The house of the Philippines’ most famous celebrities, artists, and athletes will never be interchangeable. The difference is that NFTs happen digitally while the condo is a tangible asset.
Now, arguments cannot be made whether which type of investment is better. NFTs are lucrative sources of cash while investing in condos secures one physical need for living such as shelter. The risk of NFTs apart from their volatility comes from complaints of an artist whose works had been stolen by others, only they tweaked the designs a little. Real Estate is more unalterable than NFTs with the need for physical work for someone else to take over the property—in other words, it is a safer, less volatile investment.
The question of which is better is not the whole point. It is whether which investment can a person handle with his or her set of skills, knowledge, time, and money. It is never advisable to burn life savings with new investment types just because one’s own selfies can be sold. The forever valuable tip on investing is “only invest in something you truly know”.
Offshore Real Estate Investment
Okay, real estate is tangible, but when the closing is done, the internet can now do the work. Vista Residences Inc. has a Leasing Team that investors partner with so that they do not have to hire people, advertise the condo being leased, manage guests' checkouts, or even manage the rental apps. People learned to utilize trust technology more now that travel is restricted, and the way of making money physically is almost limited to the basic commodities. A condo in the Philippines during the pandemic still increased its value. People are in search of investment opportunities that do not require so much physical work which made cryptocurrencies, NFTs and offshore investments increase their value.
Restaurants had to develop their very own delivery apps to increase web traffic and online orders—thus the revenue despite travel and business restrictions. Even though NFTs are evidently more lucrative than real estate, having a place to live is not the same as living in the metaverse.
If you are thinking of moving into a new condominium, check out Vista Residences!
Vista Residences is the condominium arm of the country’s largest homebuilder, Vista Land & Lifescapes, Inc. that offers ready for occupancy and pre-selling condominium projects in Manila, Makati, Mandaluyong, Quezon City, Ortigas, Baguio, Cebu, and CDO that are strategically located within major cities, in close proximity to premium universities, transit-oriented locations, and developed business districts.
For more information on Vista Residences, email [email protected], follow @VistaResidencesOfficial on Facebook, Twitter, Instagram, and YouTube, or call the Marketing Office at 0999 886 4262 / 0917 582 5167.
