FOMO: considering pulling the trigger on a couple of NFTs worth about 0.2 ETH after getting pulled into the hype and possibility of making some quick moneys. Is this a mistake.

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FOMO: considering pulling the trigger on a couple of NFTs worth about 0.2 ETH after getting pulled into the hype and possibility of making some quick moneys. Is this a mistake.

After reading about the potential to make 1-2 eth with very little effort. I wonder if any of you do this and if you have actually made any money/eth by signing up for a prerelease and later selling the NFT on opensea. I want to stress that I am a complete noob and I am just trying to get a small piece of the pie while it lasts. My personal opinion is that these things hold no actual value other than the fact that they are considered valuable based on their inherent statistics. Thats maybe a whole different discussion anyway. I welcome all input on this.

I am aware that it is highly speculative, which actually makes me think about what it is about a token/jpeg that renders it desirable so that others are willing to pay a higher price than what it was originally bought for. Since it does not do anything as far as my current (very limited) knowledge.

If im buying bitcoin, Im buying into currency. If im buying ethereum, Im buying into blockchain and related applications. If I'm buying NFT, im in all actuality buying ETH, since it is bought and sold for with ETH. But the sale of this isnt dictated by the price of ETH but demand (which can be said about ETH in general) but this involves a person/persons who are betting on the fact that this particular token holds some value.

submitted by /u/insightfulfrog
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