01-03-2022, 11:20 PM
If Eminem buys an NFT for $0.5m, he spends less than 0.25% of his net worth. That's
<!-- SC_OFF --><div class="md"><p>Most of the celebrities who are buying BAYC NFTs are spending less than a % of what they own because they know that NFTs are at this point a gamble. At face value, those numbers might look great ($0.5m which will appreciate with time)- but when you dig a little down- these guys are just playing with their lying around money.</p> <p>Do not get motivated by these purchases, they can afford to lose 0.20% of their net worth and still live the life that they are living. While most of us- if the purchase goes south- won't be able to survive through the episode unscathed.</p> <p>Adding to that, most of these projects would fail eventually. Terrapin (a LUNA NFT collection) was minted for 3Luna each. The floor price of them today is 0.5 LUNA.</p> <p>And so (let this post be a reminder) only invest what you can afford to lose. Only buy NFTs if you can afford to buy a minimum of 10 of them. As it's currently a game of fire, and if you're not cautious you too will burn your hands.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/tanmay1010"> /u/tanmay1010 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rvakhh/if_eminem_buys_an_nft_for_05m_he_spends_less_than/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rvakhh/if_eminem_buys_an_nft_for_05m_he_spends_less_than/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Most of the celebrities who are buying BAYC NFTs are spending less than a % of what they own because they know that NFTs are at this point a gamble. At face value, those numbers might look great ($0.5m which will appreciate with time)- but when you dig a little down- these guys are just playing with their lying around money.</p> <p>Do not get motivated by these purchases, they can afford to lose 0.20% of their net worth and still live the life that they are living. While most of us- if the purchase goes south- won't be able to survive through the episode unscathed.</p> <p>Adding to that, most of these projects would fail eventually. Terrapin (a LUNA NFT collection) was minted for 3Luna each. The floor price of them today is 0.5 LUNA.</p> <p>And so (let this post be a reminder) only invest what you can afford to lose. Only buy NFTs if you can afford to buy a minimum of 10 of them. As it's currently a game of fire, and if you're not cautious you too will burn your hands.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/tanmay1010"> /u/tanmay1010 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rvakhh/if_eminem_buys_an_nft_for_05m_he_spends_less_than/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rvakhh/if_eminem_buys_an_nft_for_05m_he_spends_less_than/">[comments]</a></span>Kind Regards R