NFTs Sales in layman terms?
Let’s do a little practical example
🧵🪡
Let’s do a little practical example
🧵🪡
Mr A and some other people that came early, minted an NFT at $100 each from Satoshi the creator of the NFTs (primary)
Mr A then put up his NFT for sale at a higher price ($200) in a marketplace (magic Eden, Opensea etc) and was waiting for another buyer to come pick it up
1/6
Mr A then put up his NFT for sale at a higher price ($200) in a marketplace (magic Eden, Opensea etc) and was waiting for another buyer to come pick it up
1/6
Mr B wanted to mint as well but he came late and could not get it as cheap as Mr A’s…guess what’s more annoying?…the cheap ones FINISHED!😑(sold out)
He had no choice but to go buy from the marketplace (secondary) where Mr A put up his for sales at a higher price @$200🥲
2/6
He had no choice but to go buy from the marketplace (secondary) where Mr A put up his for sales at a higher price @$200🥲
2/6
This was so annoying for Mr B… but he believed that the project was a good one… so he bought @$200 from Mr A and put it up for sales @$400
Now what just happened to Mr A??🌚
Mr A just made x2 his money🔥🔥
Let’s continue 🧑🦯
3/6
Now what just happened to Mr A??🌚
Mr A just made x2 his money🔥🔥
Let’s continue 🧑🦯
3/6
Here comes Mr C😇 who saw the project on Twitter and decided to check them out… unfortunately for him as well… he was late😅… so he had to buy from Mr C who put up his @$400 😅
After a successful transaction, he decided to put his up for $600
Now guess what?🌚
4/6
After a successful transaction, he decided to put his up for $600
Now guess what?🌚
4/6
Mr B just made x2 his money as well😅🔥🔥🔥 (Bought @$200, sold @$400… made profit of $200)
So yeah
The chain goes on and on like that…
Though there are other ways you can make profits on NFTs… this is just one way🤝
5/6
So yeah
The chain goes on and on like that…
Though there are other ways you can make profits on NFTs… this is just one way🤝
5/6
To learn more about NFTs, check out @O_pexinstitute NFTs course
Like + RT hard! + Follow me @kceeonyekachi1 for more layman threads🧑🦯
I love y’all too😅❤️
Like + RT hard! + Follow me @kceeonyekachi1 for more layman threads🧑🦯
I love y’all too😅❤️
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