So you’ve been probably hearing this weird term called nft being thrown around a lot by big influencers like gary vee steve aoki and other mainstream celebrities so what is an nft an nft stands for non-fungible token and in layman’s terms it’s really just assigning a serial number.
To a digital item this gives you the absolute right of ownership and can identify that you are the true owner because every transaction of an nft is on the blockchain so when i want to buy my nfts i use openseed.io and openc is on the ethereum blockchain so every time i want to buy an nft.
I will use ethereum to get ethereum onto my openc account i simply just connect my ethereum wallet whether it’s metamask or coinbase wallet and transfer ethereum into that wallet off an exchange like coinbase kraken or binance so i’ll buy the ethereum transfer to my wallet and now that my wallet is.
Connected to openc i can buy any nft on the marketplace with my ethereum but why are people so excited about these nfts or these non-fungible tokens well as you can imagine the art world is huge so if you are going to own a digital.
Item how do you verify that it’s actually yours okay so the best way to put this is there’s only one real mona lisa out there and that’s in the louvre in france but that doesn’t stop millions of people from printing their own version whether it’s small or lifelike actual size that.
Doesn’t stop people from printing their own version to reference the mona lisa and show respect but the difference between that poster on your wall in your living room compared to the real mona lisa in the louvre is millions and millions of dollars so what you can do with nfts is actually.
Assign value to digital art and true ownership each nft is unique it’s one of one you know that you are the only person that owns this one and that transaction is listed on the blockchain and it’s in your wallet on the blockchain as well since these nfts are unique that.
Actually makes them super rare because if there’s only ten thousand made and a hundred thousand people want them well they’re gonna have to pay top dollar for it so this actually makes the value go up over time just like in the art world so when you think of nfts i always like to associate it with.
Digital art another great comparison of what an nft is similar to in today’s world is like trading cards pokemon cards baseball cards there’s a big boom in that community right now and there’s cards that are going for hundreds of thousands if not millions of dollars because of the.
Rarity they were first edition they’re in the best shape they’re in the best quality they were well taken care of they’re not worn down all of these factors contribute to why a trading card is valuable also translate into the nft world one of my favorite nft projects right now.
Is the doge pound the doge pound is a incredible project made by one of the most talented teams in the community right now i joined the doge pound a few weeks ago and the private discord is absolutely insane there’s a lot of big players involved steve aoki actually just bought some.
So the doge pound is probably one of the most lit communities to be a part of right now and i actually just want to show you guys how to actually buy one so let’s go to my openc account and i’ll show you the process all right so here we are we’re on openc.io and this is just a popular nft.
Marketplace where you can buy many nfts but it’s also where the dogepound lives and where you can buy a doge so first thing you need to do in order to do that is connect your wallet so go to the top right hit my profile and this wallet will actually act as your account basically so you don’t need a.
Username or a password you really just use your ethereum wallet so a very popular wallet is metamask and it’s probably the industry standard wallet but i actually use coinbase wallet so i’m going to continue with coinbase wallet right here and you have two options you can connect.
The coinbase wallet through a chrome extension which i do recommend just for convenience in the future but how you actually want to do it to connect the most convenient way is connect with a scan on your wallet so i’m going to go ahead and open up the coinbase mobile app on my phone right here.
And click the top right and then scan the qr code and if everything works as it should my wall is connected to openc i can go ahead and hit x out here and go to my profile and voila here we are we are on my wallet and there’s my two beautiful doges okay so if you have an.
Image up here and you can actually see your balance of ethereum right now i’m going to go back to openc all right so we’re back on the openc page this is the home page as you can see i’m logged in right here so i’m ready to get searching so let’s hit explore.
And this is just going to go to the overall general marketplace where you can purchase any nft on the market you got to see what’s out there what you like but like i said we’re going to buy a doge pound so we’re going to go to the doge pound and just to make sure you guys.
Aren’t buying any fake nfts you know you’re getting the real deal make sure they have a blue verification check mark right there and click on the doge found very very good looking doges and doggos but i actually want to show you guys the collection view so go ahead and click on.
The doge pound and hit view collection here is the doge pound collection home page and you can actually see right here that the doge pound there’s 10 000 unique doges or doggos 2.6 000 owners so on average each owner owns about four the floor price is 1.4 ethereum that.
Means the lowest dose you can buy right now is going for 1.4 ethereum and of course the volume traded is 4.2 000 ethereum which is absolutely crazy so i think the best way for beginners is just get a floor doge so in order to see which doges are available at the floor price you’ll just go ahead and click.
On that all right and so here we are we’re on the doge floor and as you can see the lowest priced doge right now is going for 1.46 aetherium he has some pretty cool glasses and a nice little helmet going here i kind of like him but let’s just scroll here see if we.
Find one that we like um these are all really good oh i like this guy’s hat his glasses are kind of matching the background and that’s just overall a really clean good look so let’s look into this guy see if we want to buy him and so what you’re gonna notice is there’s two sort of mechanics here.
Think of this a lot like ebay where you can buy it now and just pay for the price they have listed or you can do bidding through an auction or you can even send in offers so openc uses what they call wrapped ethereum and so it basically just enables you to place bids and give people offers for doges.
And you’d be surprised a lot of people are actually going to accept these type of offers that are even though they’re under the market price and under the floor sometimes people just want to sell quick so they’ll accept an offer even if it is like 0.1 or 2 eth lower than market.
Value so wrapped ethereum is for bidding and making offers where just normal ethereum is going to be in your wallet and you can just use to buy it now so get that ethereum transferred over find the does you like and happy shopping so.
One thing i always like to look at when deciding which doge to buy i’m going to come down here and look at the properties and so you can really understand what makes this dose special okay so twelve percent of all the doshas so ten thousand doshas twelve percent touch about twelve hundred of them have the.
Purple background uh so you’re gonna wanna look for ones with very rare traits if you wanna see which one will be more valuable in the future so for this guy i liked his hat and that hat is actually a four percent trait so that means only 400 of the 10 000 doges have this cool.
Little hat okay so we can actually go a little further than that if you really want to get down to it and go to a website called rarity tools so it’s rarity.tools and actually compare each doge and see which one is the most rare from number one.
To number 10 000. and this will really help you define the value of your nft so just go over to all collections and scroll down to the doge pound oh i passed it’s number six all right so we’re on the dogebound scroll down and you’re actually gonna see the most rare doges in existence right now so this is.
The number one most rare dose someone’s got it listed for 5 000 eath i mean that might be a little bit of a stretch but but who knows anything can happen in the nft world these are highly lucrative really really big projects so i think i don’t think he’s too ambitious here i like i like what he’s thinking.
So you can scroll through and so let’s go back we saw that this is doggy6041 so we’re gonna go to id six zero four one and we got a rarity score of 50.66 this is rarity rank 9943 so at a 10 000 this is ranked 9 943. it’s not going to be the most rare doge but of course what do we.
Expect we were looking for the most affordable ones on the floor and so it actually is going to tell you right here on this right side which traits are what and how popular they are how rare they are and actually floor price of this trait so you would go through here.
And see that doge is having the eyewear polarized the cheapest one is 1.65 well if we go over here we see that this one glasses is 1.592 so you’re actually getting a good deal it’s actually .05 under floor value for doges with this specific polarized tray and so that would be a good factor into.
Actually making a buying decision and i actually think we should just go forward and buy this guy because i mean the purple glasses the purple hat the purple background that’s clean again guys rarity is not gonna mean everything but it’s definitely a good reference to understand the doge that.
You’re getting so i like that it’s all purple it’s clean not everyone’s gonna even look at the rarity they might just like the look of this so we’re going to go ahead and pull the trigger since it’s under the floor price of the glasses and overall i like the guy so we’ll just hit buy now.
And then we’ll make sure that we have 1.59 eth in our account and if you do you hit checkout and you should be able to purchase okay that’s how you buy a doge once the purchase goes through you’ll actually be able to just exit out of here go to my profile and check out all the beautiful doges in.
Your catalog okay guys so that’s how you buy a doge that’s how you buy an nft just make sure you get that ethereum from your exchange to your wallet and then you connect your wallet to openc and then you can have many many good boys in your portfolio just like me okay guys.
Hope that helped you have a great day
Source: Brett Malinowski