I Asked ChatGPT How To Make Money With NFTs

You can sell your own Nfts, such as music videos, digital artwork, and other things, according to Chat Gpt.
By holding specific Nfts, you can earn tokens according to some protocols, but the tokens' value progressively decreases to zero.
It advises being innovative, thinking outside the box, and using Nfts in novel ways, but for the majority of Nfts traders, this is not especially beneficial. In order to provide more useful suggestions, let's ask it a few more detailed questions.

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Let's focus on how I can make money trading Nfts as I've posed the most detailed inquiry. Remember that the regulatory framework for Nfts is currently developing as well.
I appreciate this response a lot since it warns you of many of the mistakes newcomers to Nfts commonly make, such believing that anything will increase in value if you simply buy it and store it for a long time.
The second recommendation from OpenC is to put money into well-known NFTS with a track record of growth and value, such Blue Chips. Azuki currently has a floor price of 60 need, however its value has fluctuated.
However, there are many things to take into account when investing in a new mint, such as the actual mint price and the size of the audience. Nfts Nexus advises making investments in emerging Nft initiatives.
Nfts #4 advises diversifying your portfolio by making investments in a variety of various Nfts. I believe you should concentrate on between one and three Nfts Collections, getting to know them thoroughly.
Use a stop loss and take profit, which is number five. With Nfts, you shouldn't really use take profit or stop loss orders, and you should sell into the pumps and purchase when the price is truly falling rather than rising.
When investing in Nfts, you want to buy when the price is low and avoid investing during periods of green candles, when the price is obviously rising.
You have the option of copying and pasting the same question or rewinding the rule to regenerate your answer. Popularity Because of their limited supply and great demand, scarce Nfts are more likely to appreciate in value.
Establish a reputation. It's a little different if you're a well-known celebrity who is unfamiliar with NFTs and then you launch an NFT that is extremely dissimilar to someone who is well-versed in NFTs.
Utility Nfts with utility and a use case have a higher chance of maintaining their worth. Progress in technology will also be beneficial.
Because the volume is still very low but there are still a lot of collections being produced, it's crucial to monitor market circumstances. This can indicate that collection values will rise.
According to Chat Gpt, the greatest NFT collection to invest in at the moment depends on a number of variables that are influenced by market swings. The new version that will be released will incorporate real-world data, making this response more precise.
The Blue Chips are a good option if you're looking for a long-term investment for quick flips, but you need to be aware of how the mint cycle operates.

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