If Eminem buys an NFT for $0.5m, he spends less than 0.25% of his net worth. That's not the case for the most of us. Remember that before you make any extravagant purchase.

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.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.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.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.

Submitted January 04, 2022 at 03:02AM