Bitcoin is booming - My first ever NFT Buy and Plans

Hello Everyone

I hope that you guys are doing well and staying safe at the place you are. Covid is still going on but the crypto market is reaching heights and that also bringing many new things in this segment. This year in 2020 along with DeFi (decentralized finance), NFT has also got more attention from the people.

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I have been studying NFT for the last few weeks and I got to know about one of the NFT that was recently created in the rarible platform. I have been following @moneyguruu who is a youtube and he is steemian as well however not active at all for long. He created this NFT a few days back and I got to know about his video.

What is NFT (Non-Fungible Tokens)

If you are aware of NFT then its great else I share an insight here for you guys to understand a bit about NFT.

A non-fungible token is a special type of cryptographic token which represents something unique; non-fungible tokens are thus not mutually interchangeable. This is in contrast to cryptocurrencies like bitcoin, and many networks or utility tokens that are fungible in nature.
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The good thing about these NFT is that they are issued in limited quantity and this is what makes these a good option to get high value. There are so many NFTs available in rarible platform for the various price range. Its up to you the one you like can go for it to buy.

Why did I chose this NFT

NFT are some unique artistic cards that can have huge value is gets more attention but as far as I know, then there is hardly any NFT having use case however this is very different in this case. It has multiple use case that I am sharing here-

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• Everyone who buys this NFT will get almost 40 airdrops throughout the year and each airdrop will be between 2-3k USD worth value that will be distributed equally.
• All the rewards will continue until the end of Dec 2021 so from now it will be valid for 13 months period.
• There is an option to sell this NFT anytime and there is no such restriction.
• Moneyguruu has very good knowledge about crypto and trading so there is a group formed only for NFT holders and they will get the support and suggestion for the entire year.

so these are some of the great use cases and benefits and that's why I chose this NFT to buy.

What do you think of its prospects

I think that its one of the great NFT so far because the kind of use case it has is unique and makes it way different than others. This was created just a week back with 200 quantities in total and each one cost about 600 USD in value. 103 NFT out of 200 are already sold that more than 50% in a week time and hope that more of it should be sold soon.

As per my opinion, I can say that its a success, and in this case, there is a possibility that Sumit will create another one but that will be more than 1 ETH for sure. In that case, existing holders would have the option to sell their NFT at a high price or hold to get the benefits along with airdrops.

I believe that it would a nice future and for sure it will make me earn more than what I invested that's the value of $600. I have got 2 airdrops already that's worth 50$ in total and 3rd airdrop will be coming in the next 2-3 days. There is also one Jet bot service that will be given to all the holders for Free and its worth $50. So altogether we have got more than 100$ worth of value in just 10 days.

Do I wish to buy more, hold or sell?

I have purchased one NFT and I won't be buying anymore but I am going to hold it for the next year to grab all the benefits it provides. So I can say that neither I am planning to buy more nor selling the one I am holding.
He will be sharing trading tips as well so I am looking forward to learning that since trading is a vast area and this learning would help me in long run.

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Many of you might say that this is quite expensive and it could not be a wise decision to spend USD 600 approx (1 ETH) in 1 NFT but I have already gone through this aspect and after all the consideration I did buy it. I am quite hopeful that it will help me to earn the money that I invested along with some trading knowledge and even much more with this NFT.

Since I have a long-term vision in crypto so its in my best interest to learn more about it and that will help me fr sure to gain better returns and understand this market even better.

In my crypto journey of 3 years, I have seen many cases where early joiners have been benefitted a lot and even in bitcoin the same has happened. No one wants to lose money but taking risks is needed to do well in this crypto world and the same I did. I have taken this risk with the hope that I will be able to recover the cost of money in any case and you never know that it can even give more than that.

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Thank you so much everyone for reading my post.

have a great day.