The Dangers of Trying to Get Rich Buying and Selling NFTs



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This video goes over the risks and rewards of buying and selling NFTs on marketplaces like OpenSea. While I believe there is an incredible opportunity in buying and selling NFTs right now, I’m also seeing levels of greed that make me pretty fearful over people putting in money they can’t afford to lose, and then losing everything they’ve saved up.


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When dealing with NFT sales your not only dealing with the volatility of an illiquid asset, you’re also dealing with the volatility of the cryptocurrency that NFT is being sold in. Add those two factors in, and you should really only be putting in money that you can afford to lose. Hopefully this video can help prevent some others from taking nasty losses.

Have any questions about what you’ve seen in the video? Feel free to leave a comment!

Intro – 0:00
Huge Profit Example – 0:27
Examples of Huge Losses – 2:13
Conclusion – 4:57

#NFT #Crypto #OpenSea

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39 thoughts on “The Dangers of Trying to Get Rich Buying and Selling NFTs

  • April 5, 2022 at 11:17 pm
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    I creat nft you know cheap one… Is there any risks?

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  • April 5, 2022 at 11:17 pm
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    I took an uneducated risk buying an nft for $96… 2 days later it’s worth $710. Maybe it’s just beginners luck but I plan on selling it eventually and using profits to buy more. I’m not gonna spend another dollar out of pocket but I will use all my profits to buy more so there won’t really be a loss other than the initial $96.

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  • April 5, 2022 at 11:17 pm
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    Moral of the story is stop freaking out and selling immediately When the value starts to dip hold onto to the nft and hope for an upswing

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  • April 5, 2022 at 11:17 pm
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    Thank so very helpful

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  • April 5, 2022 at 11:17 pm
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    Great video,so let's just say for example i bought a NFT for like 100 USD and it went 20 USD So i should hold it right so when it goes higher I can have a profit right?

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  • April 5, 2022 at 11:17 pm
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    I lost half my portfolio to NFTs then lost another half of my portfolio trying to make the money back trading. I wish I'd never been suckered into buying NFTs in the first place. I feel like NFTs are just a way for scammers to take people that have been holding crypto for a long time's money.

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  • April 5, 2022 at 11:17 pm
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    If they held Cool Cats, they would be up 9 ETH right now
    If they held MAYC, they would be up 17 ETH right now

    Loot average price was never more than 7 ETH, that was a bad buy no matter what

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  • April 5, 2022 at 11:17 pm
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    this video is hilarious…showing people who held for 1 day. Hope youve learned a bit since posting this.

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  • April 5, 2022 at 11:17 pm
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    Your mistake is won't keep it after a half of month

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  • April 5, 2022 at 11:17 pm
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    That's why I guess at this stage I should ape in and hold on that for years. I am not confident about the idea of trading NFTs but rather hold on them, especially the BAYC where seems the most promising I guess.

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  • April 5, 2022 at 11:17 pm
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    No offense man but I don’t think JPEGs worth some crypto currency are as revolutionary as the internet itself

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  • April 5, 2022 at 11:17 pm
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    Does that include gas fees?

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  • April 5, 2022 at 11:17 pm
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    This video really opened my eyes. I feel like it helped a bunch of people, to understand what really is going on. Keep doing amazing content like this!

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  • April 5, 2022 at 11:17 pm
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    Appreciate you sharing the potential loses of the NFT market

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  • April 5, 2022 at 11:17 pm
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    If you look at all of the losses they have one thing in common: Extremely low holding time. If you are not prepared to hold for months, even years, it's probably best you stay away from NFTs

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  • April 5, 2022 at 11:17 pm
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    this is a dumb question but is it possible to lose more money than you originally put into an NFT?

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  • April 5, 2022 at 11:17 pm
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    Buying NFT is 100% risk, unless you can find another dumber people than you.

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  • April 5, 2022 at 11:17 pm
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    If created an nft, and tried to sell it for 1 million dollars, is that a risk?

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  • April 5, 2022 at 11:17 pm
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    You really got to know what you’re getting into

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  • April 5, 2022 at 11:17 pm
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    Matt Borchert makes the best videos ever!

    Reply
  • April 5, 2022 at 11:17 pm
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    Hello sir , which quality of gif is used in dytopunks ???
    If i want to make gif as same as dytopunks V2 , which width (px) and height( px) should i use ????
    ( eg. 480Ă—480)
    Please tell
    ????????

    Reply
  • April 5, 2022 at 11:17 pm
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    That's why I plan to just create my own NFT art and sell it in auctions. Not doing anything else with my time and it's free to create, no need to flip.

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  • April 5, 2022 at 11:17 pm
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    I bought my first NFT for 350$ and now is at 150$ and I can’t sell it cause the gas prize 300$. I really taught I could make money but look is okay I will move on

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  • April 5, 2022 at 11:17 pm
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    Well I’m not buying no nft lol thank you

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  • April 5, 2022 at 11:17 pm
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    so if the nft is going down do you wait? and how do i figure out the newest nft to get on it faster

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  • April 5, 2022 at 11:17 pm
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    great info thanksss

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  • April 5, 2022 at 11:17 pm
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    why you're not posting? have you lost a lot with NFT recently?

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  • April 5, 2022 at 11:17 pm
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    Great video. This need to circulate so I'm commenting. It a huge learning curve to becoming profitable with these.

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  • April 5, 2022 at 11:17 pm
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    <— NFTs for believers

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  • April 5, 2022 at 11:17 pm
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    hi Matt, do you also cover NFT play2earn? i think that space is gonna be a game changer in the future

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  • April 5, 2022 at 11:17 pm
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    Does the calc include the gas fees?

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  • April 5, 2022 at 11:17 pm
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    You lose when you sell. Long as the project is good…I’m ok with price fluctuations

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  • April 5, 2022 at 11:17 pm
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    Congrats on the insane mint with NFB!

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  • April 5, 2022 at 11:17 pm
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    I am one of those who jumped in with both feet without a clue. I've lost quite a bit of money in the space. My biggest mistake was minting too many free NFTs that didn't take off. Spent thousands minting free NFTs thinking that they would explode. It was a Loot derivative. I did that a few additional times as well. But I'm also holding on to some really nice NFT pieces. I think that some of the top tier ones that I hold will eventually pump and I'm willing to wait until it does. I won't be panic selling any of my NFTs. But I've learned quite a bit albeit from losing money but still I've been learning.

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  • April 5, 2022 at 11:17 pm
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    Good video. That's why I think that a person should at least like what they are buying, especially at the higher valuations. If the project crashes, you are still left with art that you like. Also, when you buy the higher priced NFTs, you should be willing to hodl it long term in case the market dumps. The more expensive an NFT, the more illiquid the market. Another option is to simply avoid buying projects that pump up too quickly.

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  • April 5, 2022 at 11:17 pm
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    Lots of good info here, thanks for posting!

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  • April 5, 2022 at 11:17 pm
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    when someone sells at a loss they haven't lost the $ amount unless they also sell the reduced eth, if they held onto that eth (which most do) they could make a better investment and easily make up for those losses in one trade, plus all these losses are people who chose to sell at a loss and they only held for a few days. It's just as risky as crypto but it's really only risky for paper hands.

    Reply

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