BeesSocialTV, a crypto education system, has uploaded a series of videos in a Youtube playlist titled “NFT Sniper”. The series contains a thorough explanation of NFTs and is a great resource for anyone who is curious about investing in or minting NFTs or is looking to understand the excitement surrounding them.
The first video in the series titled “Basic Explanation of NFT Rarity” gives its viewers a basic understanding of what makes NFTs rare and how their value is determined. Ray and Tim from BeesSocialTV are joined by Dusty Ray, an NFT collector. The video begins with Dusty giving an initial explanation of rarity and how it plays out in the cryptocurrency space of NFTs. Dusty then transitions into giving the viewers an understanding of how rarity is affected by the minting process. He also explains the mechanisms of the minting process to those that need help to visualize it. At one point in the video, Dusty compares the nature of minting to being a “crypto lottery” with the odds of getting a very rare NFT to be not very good. Dusty then transitions into explaining his approach to buying NFTs which is called sniping. The episode concludes with an explanation of how mass minting of NFTs at the start of a launch can see gas fees increase rapidly and, therefore, hurt the chances of making money when the NFT is sold.
In the second video in the series, “Explanation of Minting NFT's and Rarity”, the trio reviews some of the potential uses for NFTs. Dusty explains why it is important to thoroughly research a project before buying an NFT. They then discuss liquidity where Dusty explains that a person should never invest in a DeFi (Decentralised Finance) crypto project that doesn’t have liquidity. However, according to Dusty, the liquidity in the NFT space of cryptocurrency is the project’s community. Dusty then transitions into an explanation of the different types of NFTs and concludes by telling the audience that viewing the source code of each NFT before it is minted is possible and could be quite lucrative for those that can do it.
The rest of the videos in the playlist from BeesSocialTV discuss a myriad of other relevant topics such as “Explanation of the Floor Price of NFTs”, “Reviewing the Traits of an NFT”, “What Happens When the Project Sells Out”, “Picking NFT Rarities Using The Sidebar”, “How to Use Traits to Determine Rarity”, “How To Make An Offer to Buy an NFT”, “How To Use Attributes to Determine Price Of A NFT”, “What Is The Biggest Difference Between Sniping vs. Minting NFTs”, “What Types of NFT Buyers Are There”, “How NFT Projects Give Rewards”, “How To Search NFT’s and Sniping by Using Discord”, and “How To Use Discord Analytics”
BEES.Social is the world’s first Decentralized Autonomous Organization (DAO) solely focused on empowering people with the education needed to take advantage of the crypto revolution. A spokesperson for the company explains the concept of a DAO by saying, “We are not an investment club, an LLC, a charity, or anything of that nature. We are a Decentralized Autonomous Organization which means that there is no physical location or address, there is no board of directors, we have no president, VP, CEO, or any other trappings of a traditional organization. There is not a single institution or entity that controls us. We are an autonomous and self-governing group of normal people.”
When asked about the goals of BEES.Social, the spokesperson says, “We are a community that recognizes that effective communication, respect, transparency, and sharing of information build a strong community. We are essentially a group of people that have invited friends and family to participate so that we can grow together. The foundation of the BEES.Social community is to help regular folk understand what constitutes a digital asset and how to profit from it in a safe manner. We are here to help you understand the benefits and the dangers of this new and decentralized ecosystem so that you can make informed decisions for your own financial wellbeing.”
SOURCE: Press Advantage [Link]
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