SOME QUESTIONS ABOUT BUYING NFT’S
ABOUT THE VMAX NFT LAND TITLES OFFERED IN THE REALM™
- Why Would I Buy an NFT?
- Why Would I Own an NFT?
- What Do I Feed It?
- Where Can I Find One?
- When I Do Find It, What Does It Look Like?
- Where Do I Keep It?
- What Is An NFT Wallet?
- How Does An NFT Breathe In There?
- Do I Need An NFT To Keep Me Company?
SOME QUESTIONS ABOUT DIGITAL OWNERSHIP
WHAT IS AN E-WALLET AND CAN I GET IT IN LEATHER?
- What Is A Digital Wallet?
- What If I Already Have One?
- Where Do I Get An e-Wallet?
- What’s The Best One?
- Which e-Wallet Is Better For A Beginner?
- What Is Cold Storage?
- Can You Keep An NFT In A Wallet?
- Can I Send My e-Wallet To Someone Else?
- How Do I Transfer My NFT To My Wallet?
LET’S START AT THE NFT BEGINNING
Where every good thing starts. At the heart of every consumer transaction lies a complex interplay of human psychology, desires, and motivations. Whether a daily essential or an unconventional asset, our purchases reveal our fundamental nature. Understanding why people buy goes beyond surface-level transactions; it provides insight into the intricate threads of human behavior and motivation.
THE PSYCHOLOGY OF PURCHASING
Buying is deeply ingrained in our lives and is driven by various factors, such as fulfilling our needs and wants. Researchers have studied the psychology of purchasing, including theories like Maslow’s Hierarchy of Needs, which outlines different levels of human aspirations, ranging from basic survival to self-fulfillment. Purchases often reflect these needs as people look for products that meet their requirements and enhance their overall well-being based on these aspirations.
BASIC HUMAN NEEDS OF (THINGS) COLLECTION
Beyond the need and necessity, emotional gratification often intertwines with purchasing. This dynamic aspect acknowledges that our buying decisions are shaped by the acquisition’s joy, excitement, and satisfaction rather than being solely driven by practicality. Has anyone ever seen or heard of a HORDER? These are people with the insatiable desire to COLLECT things of future intrinsic value. Collecting has long been a natural HUMAN quality and never more illustrated by people that have come from the generation of the depression era. Understanding that in scarcity things take on a VALUE of their own. How many of us have known family members that collect Coins, Stamps, Letters, Lamps, or Classic Cars they bought for next to nothing, until someone comes along and finds these BARN FINDS of Rare things worth Millions because someone preserved them by being a collector.
THE ROLE OF IDENTITY
Moreover, the items we buy become an extension of our identity. They act as statements of personal style, interests, and affiliations. This affiliation with products communicates our individuality and serves as a mechanism for societal connection as we identify with groups with similar preferences or interests.
THE PURCHASE PROCESS
In the subsequent sections of this outline, we explore the concept of purchasing, focusing specifically on the growing culture of buying digitized assets specifically in part of WHY do people buy NFTs? By dissecting the psychological underpinnings that drive people to invest in these highly unique digital assets, we aim to uncover the intricacies of human behavior in the age of Web3 and online digital assets instead of traditional physical objects like Old Cars, Clocks, Stamps, Coins or Weird Artwork like Salvador Dalí for example.
His use of unusual object pairings has fascinated viewers for years and is still honored in significant exhibitions all around the world. In response to his interest in the unconscious mind, Dalí created his renowned paranoiac-critical process which involved using his own subconscious to produce art.
THE PERCEPTUAL SHIFT FROM PHYSICAL TO VIRTUAL OR DIGITAL OWNERSHIP
As traditional assets compete with their digital counterparts, we’re beginning to witness a shift in the perception of ownership. The convenience, security, and potential for value appreciation inherent in virtual assets have prompted many to embrace this new form of ownership. But this shift isn’t merely transactional, it reflects the evolving ways we relate to our belongings in a rapidly digitizing world.
THE RISE OF CRYPTOCURRENCIES
Cryptocurrencies stand at the forefront of this transformation, with Bitcoin being the trailblazing pioneer. However, with the advent of Ethereum NFT creation, smart contracts were born. Cryptocurrencies, Tokenization and the (NFT), now called ‘Digital Gold,’ has unlocked a new value storage and transfer dimension. The allure of decentralization, security, and the potential to bypass intermediaries has propelled these virtual currencies into mainstream consciousness. So, reflecting back to the previous section, you no longer must store up a warehouse full of bygone era STUFF to hold onto THINGS that may become valuable in the near or distant future, because you can hold them in your DIGITAL WALLET for safekeeping taking up a BLOCK section of the (BLOCKCHAIN) where rust, water, animals or thieves cannot take them or damage them in any way.
PAVING THE WAY FOR NFT’S
NFTs differ from cryptocurrencies like Bitcoin or Ethereum because they represent UNIQUE ITEMS or content on a decentralized PUBLIC ledger. These tokens act as distinct digital assets that signify ownership of specific items or artistic creations, challenging traditional possession rights and creating endless opportunities for their use and future value.
The allure of NFTs lies in their innate uniqueness and scarcity. Each NFT is distinct, carrying a digital imprint that separates it from every other token. This inherent scarcity refers to the age-old concept of RARITY, where limited quantities amplify perceived value as defined as SCARCITY.
AT THE HEART OF IT ALL
is the process of tokenization, wherein an item is transformed into a unique, indivisible token on a Blockchain. This process imbues the item with a secure and traceable computer-generated and PROVEABLE identity. Ownership of an NFT is Verifiable, Transparent, and Unalterable, a stark departure from the ambiguities of ownership that often plague the physical world. In a world accustomed to infinite digital reproduction, NFTs introduce an exciting paradox being digitally certified scarcity.
DETERMINING WHERE TO BUY YOUR LAND TITLE
In this case, our Land Titles within The Realm or sold through VMax Brokers, the same is true. Land Titles and Virtual Properties will become rarer and rarer leading to SCARCITY in the surrounding areas on each individual Island Location. Example:
A property on one Island may in fact be more valuable than another due to factors that may include:
- Venues
- Business Type
- Casinos and Hotels
- Entertainment
- Amenities
- Influencers and Sponsorship
- Social Events and VIP Access
- Entertainers
- Neighboring Land Proximity Zoning
WHAT YOU NEED TO KNOW
- The Smart contracts referred to are contracts that are self-executing contracts, and the terms of the agreement are written lines of code in hexadecimal between buyer and seller on the Blockchain.
- They have been defined as computerized transaction protocols that execute the terms of a specific contract. Simply put, they do not require 3rd party legal authority or a regulatory body to execute.
- They become transactions that are traceable, transparent, verifiable, permanent and irreversible
