I Tried Making Money With NFTs
Published on: November 27 2022 by Jordan Welch
I Tried Making Money With NFTs
Table of Contents
I Tried Making Money With NFTs
| startTime | durationTime | text |
| 00:00:00 | 00:00:04 | right now thousands of people are making |
| 00:00:02 | 00:00:06 | millions of dollars buying and selling |
| 00:00:04 | 00:00:08 | nfts now you might be thinking what the |
| 00:00:06 | 00:00:10 | [ __ ] is the nft and i've been wondering |
| 00:00:08 | 00:00:12 | the same exact thing so i decided to |
| 00:00:10 | 00:00:13 | spend the next seven days learning as |
| 00:00:12 | 00:00:16 | much as i can and trying to make a |
| 00:00:13 | 00:00:18 | profit with nfts but first we got to |
| 00:00:16 | 00:00:20 | understand what this is all about |
| 00:00:18 | 00:00:23 | nfts seem complicated but the concept is |
| 00:00:20 | 00:00:25 | simple basically you're buying verified |
| 00:00:23 | 00:00:27 | ownership of a digital item like art or |
| 00:00:25 | 00:00:28 | music just like when you buy a car you |
| 00:00:27 | 00:00:30 | get a title or when you buy a house you |
| 00:00:28 | 00:00:32 | get a deed you're buying a contract that |
| 00:00:30 | 00:00:34 | proves that you own that item it's not |
| 00:00:32 | 00:00:36 | much different from traditional art |
| 00:00:34 | 00:00:38 | collecting except it's all digital and |
| 00:00:36 | 00:00:41 | recently there has been a ton of hype |
| 00:00:38 | 00:00:42 | around them with people like jay-z logan |
| 00:00:41 | 00:00:44 | paul and even visa banks spending |
| 00:00:42 | 00:00:46 | millions of dollars to buy this digital |
| 00:00:44 | 00:00:48 | art which has caused hundreds of |
| 00:00:46 | 00:00:50 | thousands of regular everyday people to |
| 00:00:48 | 00:00:53 | jump into the marketplace and prices |
| 00:00:50 | 00:00:54 | have gone way up because of this for |
| 00:00:53 | 00:00:57 | example let's look at the number one |
| 00:00:54 | 00:00:59 | rated nft project they're called crypto |
| 00:00:57 | 00:01:02 | punks and as you can see they're selling |
| 00:00:59 | 00:01:05 | for up to 7.5 million dollars the |
| 00:01:02 | 00:01:08 | cheapest punk you can buy right now is |
| 00:01:05 | 00:01:10 | 370 000 us dollars now i don't plan on |
| 00:01:08 | 00:01:12 | buying any crypto punks but this |
| 00:01:10 | 00:01:15 | marketplace is too big to not give this |
| 00:01:12 | 00:01:17 | a try so let's see what i can do |
| 00:01:15 | 00:01:19 | all right i just bought my second nft |
| 00:01:17 | 00:01:20 | the first one i bought was to try |
| 00:01:19 | 00:01:22 | everything out and understand the system |
| 00:01:20 | 00:01:24 | and i was actually able to flip that |
| 00:01:22 | 00:01:26 | first one for around a ten percent gain |
| 00:01:24 | 00:01:28 | but because of all the fees i actually |
| 00:01:26 | 00:01:30 | didn't end up making any money so this |
| 00:01:28 | 00:01:32 | one is the one i feel like i'll make my |
| 00:01:30 | 00:01:34 | first profit on so this right here is |
| 00:01:32 | 00:01:36 | the nft i bought this is a project that |
| 00:01:34 | 00:01:38 | launched around two days ago and it's |
| 00:01:36 | 00:01:40 | been going extremely viral on twitter |
| 00:01:38 | 00:01:42 | and i think it has a lot of potential to |
| 00:01:40 | 00:01:44 | grow if you look at the top nfts in the |
| 00:01:42 | 00:01:47 | last 24 hours you can see it's right |
| 00:01:44 | 00:01:48 | there at number 11 and this thing just |
| 00:01:47 | 00:01:50 | launched i literally have no idea what |
| 00:01:48 | 00:01:52 | i'm doing but i think this is a good |
| 00:01:50 | 00:01:54 | idea so i'm gonna shop around i'll |
| 00:01:52 | 00:01:55 | probably buy another one tonight and |
| 00:01:54 | 00:01:58 | i'll update you guys tomorrow it's |
| 00:01:55 | 00:02:01 | literally 3 a.m i'm still up studying |
| 00:01:58 | 00:02:04 | this but i just bought another nft i |
| 00:02:01 | 00:02:07 | just purchased this al cabone which is a |
| 00:02:04 | 00:02:09 | new project that just came out and this |
| 00:02:07 | 00:02:11 | picture has still yet to render so i |
| 00:02:09 | 00:02:13 | have no idea what the actual nft will be |
| 00:02:11 | 00:02:17 | and when it launches there is a |
| 00:02:13 | 00:02:20 | potential for this value to go way up or |
| 00:02:17 | 00:02:23 | it can go way down even if i lose all my |
| 00:02:20 | 00:02:24 | money i am not too stressed about it if |
| 00:02:23 | 00:02:26 | you're going to do something like this |
| 00:02:24 | 00:02:28 | make sure you only invest money that |
| 00:02:26 | 00:02:30 | you're totally comfortable with losing |
| 00:02:28 | 00:02:31 | this is the way to do it is i'm having |
| 00:02:30 | 00:02:33 | fun |
| 00:02:31 | 00:02:35 | it's the next morning i'm actually about |
| 00:02:33 | 00:02:37 | to head to the gym and i checked my |
| 00:02:35 | 00:02:40 | gmail and i'm super hyped both of the |
| 00:02:37 | 00:02:42 | nfts i bought last night actually ended |
| 00:02:40 | 00:02:44 | up selling while i was asleep which made |
| 00:02:42 | 00:02:47 | me a total of |
| 00:02:44 | 00:02:48 | 953 dollars in profit now of course |
| 00:02:47 | 00:02:50 | there's a lot of fees and stuff on the |
| 00:02:48 | 00:02:53 | back end but i would say i made at least |
| 00:02:50 | 00:02:55 | 500 profit off these two sales and i |
| 00:02:53 | 00:02:57 | literally bought these last night at the |
| 00:02:55 | 00:02:59 | last minute put them up and they sell |
| 00:02:57 | 00:03:01 | while i was asleep so i'm gonna try to |
| 00:02:59 | 00:03:03 | take these profits now and roll them |
| 00:03:01 | 00:03:06 | into something else and also there's a |
| 00:03:03 | 00:03:08 | new project that's launching today and |
| 00:03:06 | 00:03:10 | it's going to be minted which means i |
| 00:03:08 | 00:03:12 | can be one of the very first people to |
| 00:03:10 | 00:03:14 | buy the project so i think i'm going to |
| 00:03:12 | 00:03:17 | do that for this one and that will be a |
| 00:03:14 | 00:03:19 | big w or it won't so far so good though |
| 00:03:17 | 00:03:21 | i'm about to go work out i came home and |
| 00:03:19 | 00:03:24 | made a crazy play let me show you what i |
| 00:03:21 | 00:03:26 | did i went through and minted this new |
| 00:03:24 | 00:03:28 | project which is these right here so i |
| 00:03:26 | 00:03:30 | bought it early and once it releases |
| 00:03:28 | 00:03:32 | these are gonna become different |
| 00:03:30 | 00:03:34 | characters and if they're rare i'll be |
| 00:03:32 | 00:03:36 | able to make good money off them even if |
| 00:03:34 | 00:03:38 | they're not rare because i bought it for |
| 00:03:36 | 00:03:41 | such a cheap price i will be able to |
| 00:03:38 | 00:03:42 | flip these for a profit this is a bigger |
| 00:03:41 | 00:03:44 | project probably one of the more |
| 00:03:42 | 00:03:47 | expensive nfts i bought you see with |
| 00:03:44 | 00:03:49 | 0.68 but i think it's pretty cool and |
| 00:03:47 | 00:03:51 | it'll probably sell in the next couple |
| 00:03:49 | 00:03:53 | of days and then this is another one |
| 00:03:51 | 00:03:56 | that i minted and as you can see it has |
| 00:03:53 | 00:03:59 | yet to release yet so once these six |
| 00:03:56 | 00:04:02 | nfts release i think my portfolio should |
| 00:03:59 | 00:04:04 | go up significantly but at the same time |
| 00:04:02 | 00:04:05 | i have no idea what i'm toking about so |
| 00:04:04 | 00:04:08 | let's see what happens and i'll update |
| 00:04:05 | 00:04:08 | you guys very soon |
| 00:04:10 | 00:04:16 | i just took three massive l's in one day |
| 00:04:13 | 00:04:18 | i'm toking about my momentum is gone |
| 00:04:16 | 00:04:19 | let me show y'all what happened so these |
| 00:04:18 | 00:04:21 | two were actually the ones that i was |
| 00:04:19 | 00:04:24 | the most excited for this is a brand new |
| 00:04:21 | 00:04:26 | project that i bought early before the |
| 00:04:24 | 00:04:28 | actual art has even been revealed just |
| 00:04:26 | 00:04:30 | because it was super hyped and i knew |
| 00:04:28 | 00:04:32 | that people were interested so i spent |
| 00:04:30 | 00:04:34 | around five thousand dollars on two of |
| 00:04:32 | 00:04:37 | them today in the discord i got the news |
| 00:04:34 | 00:04:39 | that the reveal is gonna be postponed |
| 00:04:37 | 00:04:41 | for another week and once that news went |
| 00:04:39 | 00:04:42 | live the price of this thing went down |
| 00:04:41 | 00:04:44 | to the bottom i was expecting these to |
| 00:04:42 | 00:04:46 | be revealed today and double my money |
| 00:04:44 | 00:04:48 | but what actually happened was that i |
| 00:04:46 | 00:04:51 | lost all the profit i've made so far in |
| 00:04:48 | 00:04:53 | this challenge and these things are the |
| 00:04:51 | 00:04:55 | eggs that you saw before that finally |
| 00:04:53 | 00:04:57 | hatched and they look |
| 00:04:55 | 00:04:59 | so stupid |
| 00:04:57 | 00:05:01 | like look at this little hippo i'm not |
| 00:04:59 | 00:05:03 | into this art i'm not into this project |
| 00:05:01 | 00:05:06 | at all and the value of them on the |
| 00:05:03 | 00:05:08 | marketplace is less than what i paid for |
| 00:05:06 | 00:05:11 | them and i actually think this guy is |
| 00:05:08 | 00:05:14 | cool and he will eventually sell but 99 |
| 00:05:11 | 00:05:15 | of my portfolio is garbage and i don't |
| 00:05:14 | 00:05:17 | know what to do because nobody wants to |
| 00:05:15 | 00:05:20 | buy any of this stuff so at this point |
| 00:05:17 | 00:05:22 | i'm thinking about putting more money in |
| 00:05:20 | 00:05:24 | and buying a real solid project instead |
| 00:05:22 | 00:05:26 | of these little tiny projects that are |
| 00:05:24 | 00:05:28 | gonna hopefully blow up buying into |
| 00:05:26 | 00:05:30 | something that's already established |
| 00:05:28 | 00:05:31 | obviously in the nfc world that would be |
| 00:05:30 | 00:05:33 | a crypto punk but i can't afford a |
| 00:05:31 | 00:05:35 | crypto punk so i've been looking into a |
| 00:05:33 | 00:05:37 | few other options i'll let you know what |
| 00:05:35 | 00:05:39 | i decided to do it's been a full day |
| 00:05:37 | 00:05:41 | since the last update and i have some |
| 00:05:39 | 00:05:42 | news to share this nft game started to |
| 00:05:41 | 00:05:44 | stress me out so i took a small break |
| 00:05:42 | 00:05:47 | yesterday the only thing i really did |
| 00:05:44 | 00:05:49 | was i listed all those ugly hippos for |
| 00:05:47 | 00:05:52 | sale at the lowest price possible i sold |
| 00:05:49 | 00:05:54 | each of them for a loss i guess i could |
| 00:05:52 | 00:05:55 | have held them for a bit longer to make |
| 00:05:54 | 00:05:57 | some profit but i was getting tired of |
| 00:05:55 | 00:05:59 | looking at them the other two that i |
| 00:05:57 | 00:06:01 | bought before the release day have just |
| 00:05:59 | 00:06:03 | shot down in value so i'm just waiting |
| 00:06:01 | 00:06:05 | until those get revealed which is gonna |
| 00:06:03 | 00:06:07 | be after i post this video so i'm |
| 00:06:05 | 00:06:08 | basically taking an l on those last |
| 00:06:07 | 00:06:10 | night i found this project that i really |
| 00:06:08 | 00:06:12 | liked the art was super cool and the |
| 00:06:10 | 00:06:15 | price was going up and up so i bought |
| 00:06:12 | 00:06:18 | this for almost 3 000 and now it's worth |
| 00:06:15 | 00:06:20 | like 500 bucks maximum i'm really just |
| 00:06:18 | 00:06:22 | taking so many l's in this nft space i |
| 00:06:20 | 00:06:25 | have one day left of this challenge so |
| 00:06:22 | 00:06:26 | let's see if i can maybe turn it around |
| 00:06:25 | 00:06:28 | i found this one project that i really |
| 00:06:26 | 00:06:29 | like it's called the rumble kongs the |
| 00:06:28 | 00:06:31 | way i actually found out about it was |
| 00:06:29 | 00:06:34 | from steph curry because he bought one |
| 00:06:31 | 00:06:36 | and the concept is pretty dope basically |
| 00:06:34 | 00:06:39 | you can buy these characters right here |
| 00:06:36 | 00:06:41 | and enter them into a virtual basketball |
| 00:06:39 | 00:06:42 | league you can see that each of the |
| 00:06:41 | 00:06:45 | characters have their own traits like |
| 00:06:42 | 00:06:47 | defense shooting and vision and coming |
| 00:06:45 | 00:06:50 | in the next weeks are going to be live |
| 00:06:47 | 00:06:52 | leagues that you can use your kongs in |
| 00:06:50 | 00:06:53 | so this is an interesting project |
| 00:06:52 | 00:06:55 | because you could have art that looks |
| 00:06:53 | 00:06:56 | really cool but a lot of the times you |
| 00:06:55 | 00:06:58 | can't really do anything with it but |
| 00:06:56 | 00:07:00 | these guys have created a whole road map |
| 00:06:58 | 00:07:02 | on how these can be used and it's really |
| 00:07:00 | 00:07:05 | dope to me i bought this guy with the |
| 00:07:02 | 00:07:06 | top hat for around point eight nine |
| 00:07:05 | 00:07:08 | eight and i was actually able to flip it |
| 00:07:06 | 00:07:12 | for around one each which gives me a |
| 00:07:08 | 00:07:13 | profit of 0.1 each which is around 372 |
| 00:07:12 | 00:07:16 | and i was actually able to scoop this |
| 00:07:13 | 00:07:19 | one up for the low i bought this one for |
| 00:07:16 | 00:07:22 | .87 and right now the cheapest one |
| 00:07:19 | 00:07:24 | available on the market if we go to buy |
| 00:07:22 | 00:07:26 | now you can see the cheapest one |
| 00:07:24 | 00:07:28 | available is .89 if you look at the |
| 00:07:26 | 00:07:30 | activity you can see people are buying |
| 00:07:28 | 00:07:32 | these literally every couple of minutes |
| 00:07:30 | 00:07:33 | so i think that if i relist it i'll be |
| 00:07:32 | 00:07:35 | able to sell it for a profit we're gonna |
| 00:07:33 | 00:07:38 | find out very soon pray for your boy |
| 00:07:35 | 00:07:40 | this nft game got me stressed just got |
| 00:07:38 | 00:07:42 | back from the gym and today is the last |
| 00:07:40 | 00:07:44 | day of my challenge now i got this play |
| 00:07:42 | 00:07:46 | today that i think is going to change |
| 00:07:44 | 00:07:48 | the momentum of this whole challenge |
| 00:07:46 | 00:07:50 | i've been doing a ton of research and i |
| 00:07:48 | 00:07:52 | found this new nft project that is about |
| 00:07:50 | 00:07:54 | to release in the next 15 minutes i'm |
| 00:07:52 | 00:07:56 | gonna be able to jump in and buy it |
| 00:07:54 | 00:07:57 | right at the release date so i can get |
| 00:07:56 | 00:07:59 | it for the cheapest price possible this |
| 00:07:57 | 00:08:01 | is called minting the nfc and i'll be |
| 00:07:59 | 00:08:02 | one of the first owners it's not gonna |
| 00:08:01 | 00:08:04 | be easy to do it because there's only |
| 00:08:02 | 00:08:06 | three thousand of them but i got a fast |
| 00:08:04 | 00:08:08 | computer i got good internet i think |
| 00:08:06 | 00:08:09 | i'll be able to get it done if i get it |
| 00:08:08 | 00:08:11 | i'm super confident that i'll be able to |
| 00:08:09 | 00:08:13 | at least double my money so i'm gonna |
| 00:08:11 | 00:08:15 | set up my computer and wait and i'll let |
| 00:08:13 | 00:08:17 | you guys know if i succeeded i also took |
| 00:08:15 | 00:08:19 | another massive w yesterday i bought |
| 00:08:17 | 00:08:22 | this guy for |
| 00:08:19 | 00:08:24 | .84 and you can see that overnight i |
| 00:08:22 | 00:08:27 | flipped this for one each which gives me |
| 00:08:24 | 00:08:29 | a profit of 0.2 eth which as you can see |
| 00:08:27 | 00:08:31 | comes out to a profit of around 630 |
| 00:08:29 | 00:08:34 | dollars let's go baby we got five |
| 00:08:31 | 00:08:36 | minutes left until this releases so i |
| 00:08:34 | 00:08:38 | think i got it i was one of the first |
| 00:08:36 | 00:08:40 | people on the site and it looks like i |
| 00:08:38 | 00:08:42 | got it because it says thank you and it |
| 00:08:40 | 00:08:44 | looks like i was able to send them that |
| 00:08:42 | 00:08:46 | transaction right there so i think we |
| 00:08:44 | 00:08:48 | took a w on this one i'm still waiting |
| 00:08:46 | 00:08:50 | on them to send me the nft so there's |
| 00:08:48 | 00:08:52 | still a chance that i didn't get it but |
| 00:08:50 | 00:08:53 | i think i did i was really quick it's 10 |
| 00:08:52 | 00:08:56 | p.m and i've been literally waiting like |
| 00:08:53 | 00:08:58 | 11 hours to get this nft i finally got |
| 00:08:56 | 00:09:01 | it and when i checked the marketplace |
| 00:08:58 | 00:09:03 | for this i was really disappointed once |
| 00:09:01 | 00:09:05 | again my genius ideas did not go as |
| 00:09:03 | 00:09:08 | planned this is the nft that i was |
| 00:09:05 | 00:09:10 | waiting all day for and it's really |
| 00:09:08 | 00:09:12 | nothing special with this drop there was |
| 00:09:10 | 00:09:14 | a chance to get a rare or legendary card |
| 00:09:12 | 00:09:16 | which was worth up to three to five |
| 00:09:14 | 00:09:18 | thousand dollars but this one that i got |
| 00:09:16 | 00:09:19 | is worth about a thousand dollars which |
| 00:09:18 | 00:09:22 | is still so crazy to think about because |
| 00:09:19 | 00:09:23 | i only paid 800 for it but regardless |
| 00:09:22 | 00:09:25 | i'm not gonna make that much profit on |
| 00:09:23 | 00:09:27 | this at this point i'm pretty much done |
| 00:09:25 | 00:09:30 | with this so let's go calculate the |
| 00:09:27 | 00:09:32 | money that i made or lost and see where |
| 00:09:30 | 00:09:34 | i'm at with all this so here's the |
| 00:09:32 | 00:09:36 | results of my first week flipping nfts i |
| 00:09:34 | 00:09:38 | just added up the total from all the |
| 00:09:36 | 00:09:40 | wins and losses that i took from this |
| 00:09:38 | 00:09:43 | last week and the profit i came out with |
| 00:09:40 | 00:09:47 | is 0.265 each this translates to about |
| 00:09:43 | 00:09:48 | 1050 u.s dollars for seven days of work |
| 00:09:47 | 00:09:50 | that's not counting the nfts that are |
| 00:09:48 | 00:09:52 | still sitting in my wallet all of these |
| 00:09:50 | 00:09:55 | combined have a value of around 2 which |
| 00:09:52 | 00:09:57 | is close to 8 000 but nobody's buying |
| 00:09:55 | 00:10:00 | them so are they really worth 8 000 so |
| 00:09:57 | 00:10:02 | is it possible to make money with nfts |
| 00:10:00 | 00:10:04 | definitely but you have to be extremely |
| 00:10:02 | 00:10:05 | careful doing this it's honestly a |
| 00:10:04 | 00:10:07 | straight-up gamble and you can lose all |
| 00:10:05 | 00:10:09 | your money fast don't just jump onto the |
| 00:10:07 | 00:10:11 | next wave because jake paul tweeted |
| 00:10:09 | 00:10:13 | about it you have to go through and do |
| 00:10:11 | 00:10:14 | research on the company to make sure |
| 00:10:13 | 00:10:16 | that they're legit and they actually |
| 00:10:14 | 00:10:18 | have a plan to make this thing work in |
| 00:10:16 | 00:10:20 | the long term it's only been one week |
| 00:10:18 | 00:10:22 | and you can't expect to see crazy |
| 00:10:20 | 00:10:24 | results from anything in seven days but |
| 00:10:22 | 00:10:25 | i had a lot of fun so i think i'm gonna |
| 00:10:24 | 00:10:27 | continue on this journey because i know |
| 00:10:25 | 00:10:29 | it can be massive so my next update will |
| 00:10:27 | 00:10:31 | be me either showing you a hundred |
| 00:10:29 | 00:10:33 | thousand dollars a week in profit or |
| 00:10:31 | 00:10:35 | posting a gofundme donation page thanks |
| 00:10:33 | 00:10:42 | for watching |
