• NFT market with a weak year 2022
• “NFT Pope” Mike Hager advocates simpler structures
• Comparison with internet boom and bitcoin
NFT expert publishes first NFT print magazine
Mike Hager is not only active as a radio presenter, but is also the author of several guidebooks. It was not until February 2022 that the money expert published a book on the subject of non-fungible tokens (NFTs), and in autumn he also published what he claims to be the world’s first NFT print magazine. According to the online medium “Clap”, Hager printed the first edition in a print run of 20,000 copies, each costing 9.80 euros. The print edition also came with its own NFT, which entitles the holder to four print editions of the magazine throughout the year. To do this, buyers must link their wallets on a website that is due to go online soon.
advertising
Trade Bitcoin and other cryptos with leverage via CFD (long and short)
Bitcoin and other cryptocurrencies have recently corrected significantly. Trade cryptos like Bitcoin or Ethereum with leverage at Plus500 and participate in rising and falling prices.
You asked how you will get the 4 issues of the NFT magazine with the NFT in 2023.
In Feb/March we will have a website. You connect ur wallet.
With the English or German NFT you will be able to enter your address and get the English or German version, free of cost, shipped to you pic.twitter.com/t06hFly187– warrenhimself ⌐◨-◨ ? (@nullinger) December 19, 2022
The mint of magazine NFTs has now ended, but these can now be traded on the OpenSea marketplace. The NFT magazine is still available in digital form – even free of charge.
NFTs as a “life-changing opportunity” for artists
In an interview with the “Deutsche Unternehmer Platform” (DUP), Hager recently talked about his other projects in the NFT sector, such as an NFT collection that he started with photographer Rainer Hosch and entrepreneur Alexander Sachs. According to Hager, owners of one of the 52 collectibles in the form of portrait photos of celebrities such as Jennifer Lopez and Meryl Streep can also look forward to a photo shoot with Hosch in Los Angeles. The initial sale of the NFT collection brought in more than half a million US dollars. “In times when artists often live without a living and can only occasionally sell pictures, NFTs represent a life-changing opportunity,” explained the self-proclaimed “NFT Pope”.
Cryptocurrency regulations also apply to NFTs
Nevertheless, the sector is still partly dominated by a “wild west mentality”, as Hager admitted to the platform. “There are projects that make sense as well as wasteful ones that have no use,” admitted the expert. “But we mustn’t pretend that there are no rules at all.” In Germany in particular there are some regulations relating to cryptocurrencies that also apply to NFTs, such as the one-year holding period before a tax-free sale. “All transactions can be viewed transparently on the blockchain, which does not apply to cash or many account movements,” he said.
NFT market still in “early phase”
Nevertheless, he still sees significant potential for improvement on the NFT market, especially with regard to the effort involved in trading with digital collectibles. “The current structural complexity of NFTs and blockchain is comparable to the early days of the Internet in the 1990s, when you had to struggle with cables, providers and complex registrations,” Hager criticized. “NFTs raise questions about a wallet, how to buy cryptocurrencies, transfer them to the wallet, and so on.” However, this is due to the fact that the NFT market is still in an “early phase”, as only between 250,000 and one million people have NFTs. “That puts us where Bitcoin 2011 was.”
Bright future ahead
Nevertheless, it is already clear that big things are in store for the NFT sector, after all, large corporations like adidas have already jumped on the bandwagon. Not only do blockchain applications score with transparency and protection against counterfeiting, NFTs are also an important tool for customer loyalty, according to Hager. Point systems, such as those already used by bonus systems such as Payback, are conceivable here. According to the NFT expert, however, the digital collections offer the greatest potential in the context of events. “Artists could, for example, design FC Bayern Munich football tickets as NFTs, which would then be absolutely forgery-proof,” Hager continued. Even if these are resold without permission, you can earn a percentage from the marketplace fee. In addition, buyers can be lured with exclusive bonuses, including meet and greets with players, singers or actors.
NFT crash comparable to dot-com bubble
Even if the NFT market has lost significant value in 2022, according to Hager, this should be a short-term dry spell. “The current cycles of crypto crashes and sudden hype periods are quite normal for the current experimental phase,” the author is certain. “Look at the Internet: 1990’s rapid rise, 2000’s crash during the dot-com bubble, and finally its successful resurrection.” Similar to the online mail order company Amazon in 1994, the NFT market is now ahead of its time. However, those who already acquire the necessary background knowledge can benefit when NFTs reach market maturity in a few years. According to Hager, in 10 to 15 years entire professional fields are likely to emerge around blockchain technology in general and NFTs in particular.
Editorial office finanzen.net
This text is for informational purposes only and does not constitute an investment recommendation. finanzen.net GmbH excludes any claims for recourse.
Leverage must be between 2 and 20
No data
Image sources: Lucas Agr / Shutterstock.com, archy13 / Shutterstock.com