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HOW DO I DETERMINE THE VALUE OF AN NFT? (BINANCE)

WHAT IS IT AND WHY SHOULD I INVEST IN AN NFT?

HOW DO I DETERMINE THE VALUE OF AN NFT?

Beginner. Published: 31 October 2021. Updated: 31 October 2021. Reading time: 5 minutes.

Original: ESPAÑOL. Translation: ENGLISH (Thanks to DeepL).

Author: NFT Artist @chibiguardians, Binance Angel Chibi Maya, Alessandra Moura (Chii) @portaljapon

https://accounts.binance.com/es/register?ref=QVQZMBT2

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  • WHAT IS IT AND WHY SHOULD I INVEST IN AN NFT?
  • HOW DO I DETERMINE THE VALUE OF AN NFT?
  • CHIBI THOUGHTS
  • CHIBI LINKS

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WHAT IS IT AND WHY SHOULD I INVEST IN AN NFT?

An NFT, a Non Fungible Token is a token that is not interchangeable for another one, it is a cryptographic token that represents a unique asset, which is stored on the blockchain and it can be held by a centralized exchange such as Binance NFT, the world´s largest cryptocurrency ecosystem, or by existing wallets connected to the different decentralized platforms.

Why should I invest in an NFT?

  • Because I want to and because I can.
  • Because it can have a lot of uses.

I think it is more appropriate to ask what is an NFT for? I wrote about what it is and what it is for in detail in my first general article on NFTs, chosen as one of the Top 10 content creators (September 2021).

https://alessandramourachii.com/que-es-y-para-que-sirve-un-nft-como-compro-vendo-envio-deposito-y-creo-en-binance-nft/

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HOW DO I DETERMINE THE VALUE OF AN NFT?

The value of a NFT as a NFT ARTIST:

  • Depending on what I want and need, I give it a specific value.
  • Depending on the time I needed in making it, I can give it more value.
  • Depending on the material or media I have used to create the NFT, I can also increase its value.
  • Depending on whether I prefer to sell one at 1 BTC or sell 100 or 1000 at a lower price.
  • Depending on whether I want them to be exclusive sales or I want them to reach as many people as possible.
  • Beforehand, depending on what I value myself as an artist.

 

The value for someone who BUYS NFTs:

  • I have something with their stamp of authenticity, that comes direct from the artist or after going through some reseller.
  • For its exclusivity and rarity, according to limited existing units, because it is difficult to get because it is from a famous artist or very demanded.
  • For its usefulness, if it can be used in a NFT game as a virtual land, spells, clothes or specific characters like the Axies, Jojo, Xworld…
  • Because there is a tangible, physical unit that can be sent to us exclusively.
  • Because of its resale value in the short, medium or long term, depending on market demand.

 

The value for someone SELLING NFTs:

  • If you get an NFT at auction or mystery box at a low price or some SSR (Super Super Super Rare) NFT and can sell it for 100% profit on the spot… or more!
  • Because of the low commissions on resale. 1% for the artist plus 1% for Binance. At most it will be up to 10%.
  • Depending on market demand, profits can be substantial instantly.

In summary, the main characteristics of an NFT are: unique, rare and indivisible.

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CHIBI THOUGHTS (my profile):

As an NFT artist, I wanted to go into Fine Arts and didn’t get it, I tried translation and didn’t get it either, but I started studying Japanese. Twenty years later I am a translator of Japanese anime for Netflix. Now I’m trying to take up my dream again and share what I see, what I draw.

I’ve been in the crypto world only since January 2021 and shortly after I volunteered as a Binance Angel to help newbies like me not to make the same mistakes, avoid being scammed and so on.

My NFTs, for now, are on the featured.market decentralized platform and I divide them into:

  • SSR (1-11 uniques). From 44 euros.
  • SR (22 gold + 22 silver + 22 bronze). From 33 euros.
  • R (33 of different colours). From 22 euros.
  • N (If you want it, you have it. For campaigns, donations… for cancer, volcano of La Palma etc). From 11 euros.

 

Author: Alessandra Moura (Chii) @portaljapon, NFT Artist @chibiguardians, Binance Angel Chibi Maya.

(Twitter, Instagram, Facebook, Telegram, Binance NFTs)

 

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CHIBI LINKS:

Binance registration with my referral and 5% for you:

https://accounts.binance.com/es/register?ref=QVQZMBT2

How to Get Started with Binance NFT Marketplace | Binance Support

Binance in English: https://t.me/binanceexchange

Binance NFT in English: https://t.me/binancenfts

Binance academy NFT: https://academy.binance.com/en/articles/a-guide-to-crypto-collectibles-and-non-fungible-tokens-nfts

 

Binance NFT Twitter: https://twitter.com/TheBinanceNFT

Binance NFT Instagram: https://www.instagram.com/binancenfts/

Binance NFT Discord: https://discord.com/invite/GTrw94qVdq

 

Telegram Binance NFT communities:

Binance NFT English: https://t.me/binancenfts

Binance NFT Turkish: https://t.me/binancenftTR

Binance NFT Chinese: https://t.me/binancenft_Chinese

Binance NFT Indonesian: https://t.me/binancenftindonesian

Binance NFT Russian: https://t.me/BinanceNFTRU

Binance NFT Spanish / español: https://t.me/BinanceNFTes

 

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Binance news channel:

Binance announcements English: https://t.me/binance_announcements

Binance anuncios Spanish/Español: https://t.me/BinanceSpanishAnuncios

 

Telegram Binance groups:

Binance English: https://t.me/binanceexchange

Binance español (Latam): https://t.me/BinanceSpanish

Binance español (Argentina): https://t.me/BinanceArgentinaOficial

Binance español (España): https://t.me/Binance_ESP

Featured Market by Binance (English): https://t.me/featurednft

 

Binance social networks in English:

Twitter: https://twitter.com/binance

Instagram: https://www.instagram.com/binance/

Facebook: https://www.facebook.com/binance

 

Other links and social networks (beware of scammers/scammers, fake/fake accounts etc)

https://www.binance.com/en/community

 

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Top 10 Creators Content (September 2021)

¿What is an NFT and what is it for? In English.

https://alessandramourachii.com/what-is-an-nft-what-is-it-for-how-do-i-buy-sell-deposit-withdraw-create-on-binance-nft/

¿Qué es y para qué sirve un NFT? En español.

https://alessandramourachii.com/que-es-y-para-que-sirve-un-nft-como-compro-vendo-envio-deposito-y-creo-en-binance-nft/

http://www.chibiguardians.com/

Publicado en Aless Chii personal, binance, NFT

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