{"id":6279,"date":"2022-11-04T18:13:14","date_gmt":"2022-11-04T18:13:14","guid":{"rendered":"https:\/\/cyberscrilla.com\/staging\/4768\/?p=6279"},"modified":"2022-11-15T21:33:41","modified_gmt":"2022-11-15T21:33:41","slug":"how-to-become-an-nft-collector","status":"publish","type":"post","link":"https:\/\/cyberscrilla.com\/staging\/4768\/how-to-become-an-nft-collector\/","title":{"rendered":"How to Become an NFT Collector (In 9 Simple Steps)"},"content":{"rendered":"\n

NFTs have quickly become the talk of the collectibles world. Influencers like Gary Vee and Snoop Dogg have spent millions of dollars collecting these digital assets, and others have become millionaires by becoming NFT collectors. So, how can you become an NFT collector?<\/p>\n\n\n\n

Below, I walk you through nine steps that will provide you with a solid foundation to get started collecting NFTs.<\/p>\n\n\n\n

How to Become an NFT Collector<\/h2>\n\n\n\n
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How to become an NFT Collector<\/figcaption><\/figure>\n\n\n\n

1. Learn About NFT Technology<\/h3>\n\n\n\n

Before you can begin collecting NFTs, you need to learn about the underlying technology including what an NFT is<\/a>. In short, an NFT is a digital asset that is stored on a decentralized public ledger<\/a> called the blockchain.<\/p>\n\n\n\n

The blockchain is an immutable record, meaning it can\u2019t be changed, and it can be viewed by anyone. An NFT\u2019s data is stored on the blockchain which gives it the ability to be owned since anyone can verify whose wallet the asset is stored in.<\/p>\n\n\n\n

Furthermore, an NFT isn\u2019t simply an image on your screen. Smart contract technology<\/a> enables NFTs to store additional perks, hence providing more value to the holders. <\/p>\n\n\n\n

For example, an NFT\u2019s smart contract could give you access to an exclusive event like a concert or conference.<\/p>\n\n\n\n

Beyond its smart contract technology, NFTs remain a proof of record. Therefore, we can assume that brands which started as NFTs such as Bored Ape Yacht Club and VeeFriends<\/a>, might be valuable in the future as the brand continues to grow.<\/p>\n\n\n\n

Similar to how original sketches of the iconic Mickey Mouse have sold for thousands to millions of dollars, certain NFTs that mark the beginning of legendary brands could be worth big bucks in the future.<\/p>\n\n\n\n

2. Find Your Niche<\/h3>\n\n\n\n

Every collector has a niche or even multiple niches they enjoy dabbling in. Sports cards, sneakers, and stamps are all examples of collectible niches. Also, most niches have sub-niches.<\/p>\n\n\n\n

Do you like MLB or NBA sports cards? Do you collect Jordans or Nikes? Perhaps you enjoy the over-arching niche and collect everything that falls under it. <\/p>\n\n\n\n

Regardless, you have to find a niche before you can start collecting NFTs.<\/p>\n\n\n\n

Generally, your niche is something you\u2019re genuinely interested in and have some knowledge of. <\/p>\n\n\n\n

Or, you might find a new niche that has sparked your interest. In that case, you will have to put in the time to educate yourself about the topic if you\u2019re trying to build a solid collection.<\/p>\n\n\n\n

Just like IRL collectibles, the digital collectibles space has plenty of niches to choose from. Many of which are in the same realm as popular physical collectibles. <\/p>\n\n\n\n

Below are some examples of popular niches NFT collectors have taken a liking to.<\/strong><\/p>\n\n\n\n

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  • Art<\/strong><\/li>\n\n\n\n
  • Profile Pic Projects (PFP)<\/strong><\/li>\n\n\n\n
  • Historical NFTs<\/strong><\/li>\n\n\n\n
  • Intellectual Property<\/strong><\/li>\n\n\n\n
  • Sports Cards<\/strong><\/li>\n\n\n\n
  • In-Game Characters<\/strong><\/li>\n<\/ul>\n\n\n\n

    That said, as the NFT space continues to expand more industries are beginning to bring their brands into the space. As a result, we will continue to see a wider array of digital collectibles. <\/p>\n\n\n\n

    That\u2019s one reason why being knowledgeable about your niche gives you a huge advantage; you\u2019ll know when brands are making moves so that you can jump on board early.<\/p>\n\n\n\n

    3. Do Your Own Research (DYOR)<\/h3>\n\n\n\n
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