Zoom Call 8.02.22 NFT Tokens and Crypto

By
Real Estate Agent with Mapleridge Realty, CT 203-206-0754 REB.0759001

NFT Tokens and Crypto

I must first apologize as the zoom call this week was a topic to which I have no familiarity and even my notes where hard for me to appreciate and understand after the call.

From the Internet, I got this definition of NFT:

An NFT is a cryptographic token, but unlike cryptocurrencies such as bitcoin and many network or utility tokensNFTs are not mutually interchangeable, i.e. not fungible.

From the call I was able to glean that NFT's are a manner of investing similar to the way one might buy stock or commodities, except it is all done online, and it is truly a matter of buyer beware.

Brandon offered that like the internet in its infancy, there are people trying to regulate NFTs which may be too early. When the Internet was new, the same attempts were made, and if they had succeeded, the World Wide Web may not have evolved into the force it has in our day-to-day activities across the world.

Brandon discussed several sites that track the available NFT's and also that can verify authenticity.

For example, if an NBA player were to get involved in a project or a celebrity, it could be tracked through an app titled Blockchain Wallet Tracker. With the exposure that it would get many different people will pick up on it.

He discussed a commodity site called board breakfast club and when you purchase the NFT you put in your shipping address, you will get shipments of different coffees just from the ownership of the NFT.

He also discussed an NFT called coin games, which is a company that is making a video game and if one owns the NFT, one will have a portion of ownership in the game and then would have shared revenue of that platform.

Zoom Call  8.02.22 NFT Tokens and CryptoHe discussed Blockchain Real Estate which is part of a NAR group that through a venture group that is a license that will connect through securities tied through virtual land or securities.

This has connections through some of the banks that have placed assets and ledgers so that they can be traced through a title company and has all people that are connected through the chain have the ability to speed up a real estate transaction.

A question was raised relative to the coin game NFT regarding dilution of the product if additional people buy into the resource is the return reduced. He assured that it was not the case as it would be a max limited quantity and that that particular asset was such that the money deposited would allow them to build out the video game and expose it to the Metaverse and game and take care of marketing, etc. and get feedback from the community. By using some of the available analytics it strengthens the value of the NFT.

These NFTs can be similarly described as being diversified.

He suggested based on his experiences that it should be analyzed and offered that a potential investment could be put aside towards retirement much like stocks.

Another caller offered that she wanted to apply $2,000 in crypto. He offered that he looks at the utility of the coin and he offered a suggestion at looking at the utility of the coin and buy and split through the diversity of the coins and buy through the files look at the long terms through the Block Chain long term as he believes that within the next 10 years by every major company. He personally is buying the API's , or a file coin which is the Inter-planetary file system, and the data goes through the files through the API where the reader is similar to the RSS  feed like our MLS.

The question was asked: How do I start if I know nothing?

For someone that knows very little, start at coinmarketcap.com where there are tutorials on starting a wallet and starting to purchase coins. There one can go with the metamax wallet for interacting with NFTs. 

He felt that is one were going with coins, then start with coin base which is easy. They would get your banking info and you would approve a dollar value going into a wallet with Coinbase as it is centralized and secured and locked. 

With coinbase, one can buy and sell, and it is still connected within the wallet and the funds are still connected to the banking information.

Brandon is very knowledgeable in the process and the financials, and it was demonstrated with the ease with which he presented his information.

Zoom Call on NFT Tokens and Crypto

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Edward (Ed) Silva
Broker Associate

Serving Central Connecticut Sellers and Buyers

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Comments (20)

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Ed, It was a interesting calls and not sure if it is for me but you never know.  Make it a great day!

Aug 04, 2022 08:50 AM
Eileen Burns
Trans State Commercial RE Ft. Lauderdale/Miami/Palm Beach - Fort Lauderdale, FL
FLorida Real Estate Connector

Sorry to have missed the presentation.  I understand twitter began with a nft token as well

Aug 04, 2022 09:54 AM
Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Thanks Ed. I missed the call.  I have been following 'Making Money" with Charles Payne for many years on Fox Business.  He has many 'experts' on quite frequently regarding crypto and NFT's. Interesting to say the least.

Aug 04, 2022 10:52 AM
Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Featured in BananaTude!

 

Aug 04, 2022 10:53 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Ed I understood NFT's better than before the ZOOM Meeting, BUT I would say you came away with a better understanding of NFT's than I did.

Aug 04, 2022 02:37 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good evening Ed,

I'm with George Souto I learned something from the ZOOM call but it was so foreign to me I have a long way to go to better understanding it all. You on the other hand got a much better understanding....good job on your summary. Very interesting!

Aug 04, 2022 05:50 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

I am sure those who were able to attend Tuesday's Zoom meeting, benefitted from doing so, Ed.

Aug 04, 2022 06:19 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

CONGRATULATIONS Ed, on having this blog FEATURED in the Old Farts Club group!  

Aug 04, 2022 06:19 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

It always fascinates me stuff like this and to see where all the trends go in the way they do

Aug 04, 2022 11:30 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

This is a great overview of the meeting that helps even more with my understanding of it!

Aug 05, 2022 04:53 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I feel like I am missing the boat with this stuff since I don't understand it either and it seems like a highly risky investment, haha.

Aug 05, 2022 04:56 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Ed - confusion continues to reign when the subject of NFTs is discussed.  Or is it rains?  Perhaps just word choice.  Or perhaps something else.  Regardless of when (and where or how often) it seems to pour. I digress. . .  

Aug 05, 2022 05:01 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Ed,
Thanks for the recap. I was sorry to miss this presentation because it's all very foreign to me. I will go check out the coinmarketcap.com website.

Aug 05, 2022 06:23 AM
Roy Kelley
Retired - Gaithersburg, MD

Thanks, Ed, for telling us about this Zoom session.

Have an outstanding weekend.

Aug 06, 2022 04:41 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Ed - I am with you.  I found this to be way over my pay grade.  You did a good job in the recap.  It takes a while to sink in.

Aug 06, 2022 05:30 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Ed, this stuff is above me, and sounds risky.   At this stage of life, keeping my retirement money safe is very important.

Aug 08, 2022 10:44 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Ed,

What a great job on a subject you don't know well.  We all need to stay informed and learn more on the subject.

Aug 08, 2022 01:39 PM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Ed - you are such a pro at recapping zoom meetings.  But this time you really nailed it and this topic isn't as familiar, as you point out.  You sound like you've been investing already and earning $$!

Aug 10, 2022 05:42 PM
Brandon Jordan
ERA American Real Estate - Crestview, FL

Great recap and thanks for attending the zoom call.  The buyer beware term in the web3 seems to be DYOR (do your own research thank you for mentioning that)

Anyone interested to take a peak at the wallet tracker tools mention above Wallet Tracker want to learn more on coffee nft Bored Breakfast Club if anyone is interested in learning more on the video game nft mention above Koin Games the NAR REACH venture on blockchain for more info REConsortia

Most agents I think are familiar with RSS so used that for basic overview but many have started the switch to apis for our mls data feeds anyone handling the feeds themselves are likely familiar but I feel thats a small crowd and most have web hosting teams such as godaddy handling along with 3rd party website design. 

 

The coins I personally have purchased are file coin $fil as mention runs the ipfs network which I feel most companies will have their data in the next 10 years onboarded to blockchain as mention above. I also like $eth which is the major player for smart contracts which are what nfts are built with smart contracts which are a new form of web apps as they expand with further use. Bitcoin I like as the rarity and use of their payment network through 2nd chain layers. 

Meta Mask Wallet

Thank you again for the recap they are always a great part of the zoom calls. 

Aug 11, 2022 09:43 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Ed:

Thanks for the recap. I know nothing about this topic and this was a big help with a bit of education. Sounds like Brandon really knows his stuff and would be a good resource for answers to questions.

Jeff

Aug 14, 2022 09:10 AM