One day, my son asked me what is virtual currency , metaverse and NFT.
I told him that it would take a lot of time to understand these things, and it might not be possible to really understand them, but there was a way that he could quickly figure out the connection. I asked him if he was interested in hearing it. ?
He said: I'm not sure.
I said: What if I can make money by the way?
He said: Of course that’s good!
Parent-child experiment: Issuing your own NFT
That would be great. I told him that if you can issue your own NFT online, as long as someone buys it from you, you can make money.
He said: I don’t know what NFT is?
I said: It doesn’t matter, just record the process of playing video games, add dubbing and cut it into a video, or put your free graffiti content on the Internet and sell it.
He said: What if no one buys it?
I said: As long as you successfully publish, I will give you a reward of 1,000 yuan.
He said: That’s great, how do we get started?
Just like that, I spent half an hour studying the method with him, letting him know how to use the recording and editing software in Apple computers, and at the same time, I found a few computer drawing videos for him to watch.
It didn’t take long for him to come to me: Dad, I need an drawing tablet .
I said, you go online and research which one is suitable, and I will help you pay half of the money.
The drawing tablet he ordered arrived the next day, and that night he completed his first video game explanation video and electronic painting work, which looked impressive.
Okay, you can issue NFT. I told him: Please go online to find the largest platform, and then complete the registration yourself.
Soon he chose OPENSEA as the issuance platform and also selected the virtual currency exchange. After he completed all registrations, he was confused when it came to issuing NFT.
He asked me that issuing NFT requires Ethereum to pay miners GAS, but he did not have Ethereum.
Is it worthwhile to invest in Ethereum first?
I said, you can buy it with your New Year's money.
He said: This will cost 4,000 yuan, but the bonus you gave me is only 1,000 yuan.
I said: But if you sell it for more than 3,000 yuan, you will make it back.
He said: How do I know someone will buy it with me for 3,000 yuan?
I said: This involves your credit problem.
If someone thinks your painting is worth 3,000 yuan, or will rise to more than 3,000 yuan in the future, someone will buy it from you, but not vice versa.
He said: This may cost you money. Is there any way to avoid handling fees?
I said: Yes, you can choose the lazymining mode on the platform, because the NFT will not be transferred on the blockchain before the first purchase or transfer, so there is no need to pay the miner GAS, but the initial account creation still requires GAS costs of.
He said: Then I don’t have to pay the listing fee?
I said: Having said that, if you don’t have enough credit and no one is willing to buy your stuff, it doesn’t matter whether you pay the handling fee or not, because the result is that you can’t sell it.
He said: Can I choose other platforms with lower handling fees?
I say: If your focus is to be seen by the most people and sell for the highest price, then of course you should choose the most mainstream platform, because you have the greatest chance of being seen. In this case, the significance of saving some procedures is Not big.
He said: Then I’d better not release it.
I said: But if you buy ETH, Ethereum may go up.
He said: But will it fall?
I said: Of course it is possible, because these cryptocurrencies are actually assets rather than currencies, and they are not assets that can continue to generate income. The rise and fall purely depends on the confidence of participants in them.
What is important is not the form of the asset, but the credit.
He said: What if I use the money to buy the ETF you mentioned before?
I said: ETF may also fall, but because it holds a basket of companies, you can participate in income distribution. In the long run, even if you buy at a high point, as long as you leave it long enough, you should be able to recover your capital. If you buy At a relatively low point, it is possible to earn both dividends and price differences.
He said: Then I don’t want to buy Ethereum coins or issue NFTs. It’s better to use the New Year’s money to buy ETFs.
I say: This is better when you don’t have enough credit and not many people know you. But if one day you have enough credit and there are more people who know you and think highly of you, they will be willing to buy at a higher price. Your NFT, do you still want to issue it?
He said: Of course!
I said: So the form of the asset is not important, what is important is credit.
The most important credit to you is your own credit. You yourself will be the currency of the future world, because you can determine your own currency value, and you can only determine your own currency value. Of course, you can call the future world the Metaverse.
The ultimate form of wealth is credit
Finally, I told my son: The bottom layer of wealth is credit.
Your own credit is your own wealth.
My son seemed to understand, but I told him: So the ultimate form of wealth is credit.
I asked him: What kind of person do you think is the most trustworthy? A person with goals? Or someone who has no goals?
He said: Of course it is a person with goals.
I then asked him: So who do you think is more trustworthy among people who give up easily and persist to the end?
He said: Stick to it.
I said: Then what kind of person do you want to be?
He said: Be a person who has a goal and stick to it.
I said: Great, then you must be a person with credit in the future. When you have credit, wealth will just follow as rewards!
The story has been shared. If you are confused about NFT, ETH, ETF and the metaverse, I hope this article can help you.
Finally, I want to tell you:
Do you hope to be financially free one day and have the final say in your own life?
Do you want your children to grasp the trends of the future?
If so, maybe you can try this method that I have used and it is really effective.
More importantly, this principle can be understood in the human world, in the metaverse, and in the wider world.
Only those who work hard to pursue their aspirations and never give up have the most credibility.
At the beginning of the new year, let us cheer up, set goals, and realize our aspirations together!
bless you.
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