If you’re wondering “What are NFTs”, and why I’m talking about them on my travel blog, keep reading. Because although NFTs are digital assets, some include real-life assets as well, like Lucky Ape NFT’s which offer access to boutique properties around the world with your token!
Think of it like a membership card; you buy the card, and it includes certain perks and features, right? Well with Lucky Apt NFT’s, you buy the piece of digital art, and that acts as your “membership card”, which gives you access to stays at their partner hotels, plus a whole lot more!
But I’ll get to the exact details of Lucky Ape NFT’s in a sec. First, let me explain in the easiest what possible, exactly what are NFT’s, and how to buy them!
Disclaimer: This post is in collaboration with Lucky Ape NFT’s, however all opinions are on my own. Also, you should always be sure to research your NFT’s, and understand that investing comes with financial risk.
Watch the video tutorial below or read the written version!
What are NFTs?
Any website or Google search will easily tell you that NFT meaning is “non fungible token”. So what in the world does that even mean? Let’s start with the word “fungible”. The definition of fungible is something that can be replaced by another identical item, or mutually interchangeable.
Simply put, NFT’s are non fungible, which means they cannot be replaced, duplicated, or traded for another one. They are each unique, like a rare piece of art, except they are more like rare pieces of digital art. And like regular art, they can eventually be sold for a higher price!
By the way! An NFT doesn’t just have to be art! Maybe you’ve heard of the NBA video clip that sold for millions, or even Tweets that are selling for ridiculous amounts! An NFT can be anything from a photo, to a GIF, and even physical items that use NFT’s as a digital receipt.
Why Is Everyone Talking About NFTs Right Now?
NFT’s have actually been around since 2014! But they suddenly boomed with popularity in 2021, when NFT’s started selling for millions of dollars, and celebrities jumped onboard with the “rare digital art trend”.
Now, investors, fans, or even just rare collectible lovers are buying NFT’s simply either as just a hobby, or in the hopes that the value will increase, and they can profit from them in the future.
What is the Point of Just Having Digital Art?
This is a question that I initially had about NFT’s, and why I didn’t jump on the band wagon sooner. To me, if I was going to buy expensive art, I wanted to hang it in my house and show it off!
Except, I don’t have a house. I’m nomadic. So the idea of a digital art collection seemed more appealing to me, but not enough for me to invest a ton of money. Then I started hearing about NFT’s that come with tangible assets (AKA something you get IRL), and this definitely made more sense to me, not just as a collector, but as a creator as well!
Because as a collector, I would be getting my bragging rights for a cool piece of digital art, PLUS I get to do something in real life too, like travel! And as a creator, I could turn my brand and content into my own NFTs as a way to monetize from the audience members who support me! It all sounded great to me!
So in short, the point of just having digital art, is either because you enjoy collecting rare items, because you enjoy the perks that some NFTs like Lucky Ape come with, because you want to support your favorite creators/celebrities/artists, or because you want to invest with the hopes of gaining more from trading them in the future.
NFTs That Include Travel Perks
If you’re anything like me, the travel perks that come with certain NFTs are what really sold me on these things.
Let’s talk about Lucky Ape Travel Club. This is a collection of 10,000 unique NFTs, which triple as a membership card to parties around the world with other members, access to beautiful boutique properties all over the globe, and also to their metaverse in Sandbox.
So basically, you buy the Lucky Ape NFT and not only do you get your rare piece of art, but you also get a ton of travel opportunities as well!
Some of the destinations where they will have properties for starters are: Buenos Aires, Istanbul, Miami, Sosua, Tulum, Rio, and Bali! They’ll also be adding more as membership grows.
With your Lucky Ape NFT, you will be able to book up to 7 nights at one of those properties, and you can book it for as many periods as you like depending on availability. For example, if you book 7 nights at their Tulum property, and it’s still available for another 7 nights afterwards, you can book it again. And again! And again!
Of course, as the NFTs gain popularity, the reservation blocks will fill up, which is why you should get one early in order to get dibs on some of the first open spots!
If you’d like to buy a Lucky Ape NFT, you can find them on OpenSea under “the lucky ape”, and they’ll be launching publicly on March 31st.
To get in on pre-sale pricing, you can join their Discord for updates!
How to Buy NFT’s
If you’ve read this far, and are now interested in figuring out how to buy an NFT, read on! It may sound tricky, but trust me, it’s really not.
Step 1: Buy Ethereum or Other Cryptocurrency
If you know nothing about cryptocurrency, don’t worry. It’s basically like using a money exchange for foreign currency, except it’s all online, and you can even use a credit card. Below are the most popular platforms for buying Cryptocurrency:
- Coinbase: Coinbase is one of the most popular crypto platforms for buying and selling. You can simply set it up from your computer, or download the app, or both! They are also going to be starting to sell NFTs soon directly from their platform, which could be great for lower transaction fees. NOTE! You also need Coinbase Wallet in order to buy NFTs!
- MetaMask: Metamask is another popular crypto platform, and one that has been a little easier for me to figure out, especially while being abroad without access to my US phone number which Coinbase requires to log in. MetaMask is easy to set up, and you simply purchase the Crypto on the app, then connect MetaMask to your OpenSea account which I’ll get to next.
- PayPal: If you feel more safe and comfortable using a known money platform, great news! You can now buy Crypto on PayPal!
Important things to note about buying cryptocurrency:
- Always research and see what others are saying about the crypto you’re going to buy first
- Keep in mind that it may be best to watch it for a few days or even weeks, and buy it when the value is low, not high
- Also keep in mind that each of those platforms will charge you a fee for the purchase. Check each one to see which has the best pricing
- Don’t be discouraged if the value drops. It’s bound to happen, and remember, it also goes up!
- The main preferred crypto for buying NFTs is “Ethereum” and the current price of it today is 1 ETH = about $2500. You can also use Polygon, Solana, and Polkadot
- You do not have to buy an entire crypto token. You can buy “a piece of it”. For example, you can buy 0.1 ETH which would be around $250. You should check the prices of the NFT’s you’re interested in to see how much ETH you will need to buy them.
- You will be given a passcode phrase and it is CRUCIAL to save it, both somewhere physically, like a safe, and in a cloud! Because if you lose it, you will not be able to recover your account and can lose all of your money!
- Again, as with any investment, financial risk is involved!
Step 2: Buy The NFTs on an NFT Marketplace
Once you have your cryptocurrency, you are now ready to go buy your NFTs on an NFT marketplace! There are a few options, but I personally prefer and recommend OpenSea.
It may seem overwhelming at first because there are SO many NFTs, but it helps if you know the name of the one you’re interested in. For example, “Lucky Ape Travel Club”.
Otherwise you can browse through trending ones on the front page, or the many different categories! Once you find one you really like, you can click on it to read more about its description, and also any assets it may include like those travel perks I was talking about!
Finally, when you’re ready to make your purchase, you can decide to either make an offer, or buy it for the listed price. Once the transaction is complete, you will be sent your personal token code, and that NFT is your rare collectible item to keep! Well, unless you decide to sell it!
So there you have it! Hopefully this post has helped you easily understand the super trendy world of NFTs a bit more, and will encourage you to purchase your first one! Feel free to drop me a comment to share your own NFT tips or questions!