The blockchain world is diverse and complex, NFTs are still experiencing immense hype. It is often difficult to keep an overview here, the range is too wide. Countless new NFTs pop up every day – which are scams, which have potential?
What are the gadgets, what are the investments? Moreover, NFT owners have one thing in common: their enthusiasm for the crypto cosmos. Computer enthusiasts, investment thinkers, art lovers and collectors meet here. They all believe in the vision of a digital future. They form NFT communities, inform and advise each other. Help each other educate, invest and learn. An NFT as a ticket for a community? But why are these communities becoming increasingly relevant? What added value does such collective cohesion bring?
NFTs are assets
Non-fungible tokens, abbreviated as NFT, are indivisible and non-exchangeable tokens. Cryptocurrencies like Bitcoin, on the other hand, are interchangeable. Thus, each NFT is a unique piece that can be purchased as an asset. NFTs can come in different forms, for example there are digital artworks, so-called crypto art or game characters for sale online. NFTs, like other cryptocurrencies, are traded on a blockchain because it is the safest place to store your crypto treasures. Owning an NFT is considered an asset, as is owning an expensive painting and hanging it on the wall of your home. You want to make a name for yourself with others and show off your prosperity.
The hype keeps growing
NFTs are emerging more and more everywhere these days. Many well-known artists and companies upload their own non-fungible tokens, such as American rapper Snoop Dogg or skateboarder Tony Hawk. More recently, the Moonbirds and World of Walrus collections have hit the market. Having familiarized themselves with the crypto industry through bitcoin and other cryptocurrencies, people are now venturing into assets in the form of NFTs. But as a newcomer, you have to be careful. As with expensive paints, there are many opportunities for counterfeiting in the NFT sector. Common scams are, for example, links to fake NFT marketplaces that are sent using phishing emails, fake customer support or NFT plagiarism. Proper due diligence, i.e. examining the economic, legal, tax and financial situation, can avoid being the victim of a scam. Elon Musk is a crypto pioneer. He recently bought the social media platform Twitter. Since he knows the common scam methods, he could prevent the scam on Twitter in the future and thus advance the NFT business.
NFTs as a ticket to the community
NFT communities offer an exclusive currency. People can spend them on their products or services and at the same time it helps to build brand loyalty. NFTs can also create a sense of loyalty and connection. It also creates emotion behind the tokens. This gives people a reason to keep their NFTs and not sell them at a perceived higher price. Because only by owning a non-fungible token can you gain admission into NFT clubs and become part of the community.
An example of a positive NFT community is the Bored Ape Yacht Club, BAYC for short. If you want to become a member of this club, you only need one thing: owning a Bored Ape. Digital artworks in the form of monkeys are among the best known NFTs. If you don’t have a monkey, you can buy one. Registration in a wallet is required for purchase. The popular Bored Apes are ranked by rarity and therefore have different prices, so entry into the club remains fair for any newcomer – as long as the necessary funds are available. Together, BAYC results in a collection of around 10,000 NFT monkeys. If you are a member of the club, you can benefit from discounts.
Many benefits for NFT Club members
Joining an NFT club like BAYC brings even more unique benefits. On the one hand, partnerships can be born, on the other hand, some clubs offer the possibility of quests. Quests are tasks where currency holders embark on personalized journeys or adventures that can lead to rewards upon completion. Earning a quest reward triggers a positive feeling in the owner and is happily shared by them online on their social media. Sharing on personal networks arouses the interest of other people and can thus broaden the community. It will raise awareness in the industry and encourage new creative NFT fan memberships to stimulate new options.
It is definitely worth joining an NFT club for all NFT owners. Clubs are also a great opportunity for people interested in investing in NFTs and the community. Joining an NFT club allows you to meet people and learn about different cryptocurrencies. Clubs like BAYC have already shown that it is possible to build a large positive community. The only thing you need to bring other than an NFT is positive vibes only.