Raising hype about Metaverse, NFTs and their price has not just encouraged artists to accumulate value for art; but has also led scammers and frauds to play in the market.
Here are some reasons elaborating why and how an NFT owner could be trustless. These include Inferior NFTs, Stolen Artwork, Less Knowledge About their Own NFT, or Unable to Present It Professionally.
1. Have Less Understanding About Their Own NFT
The NFT owner could have no or low knowledge of what he or she is selling in the marketplace. And there could be several factors behind this:
A. The seller is neither the original creator nor the copyright holder of the NFT.
B. It is a stolen project.
C. NFT has been bought from an anonymous seller who doesn’t have any digital identity.
Actions You Can PossiblyTake:
- Try finding their website to see whether they are genuine or not
- See how active are they on Twitter or Discord
- Find if the name of the creator or copyright owner is being displayed on their NFT landing page
2. They Don’t Know How To Pitch, And Present Their NFTs To The World
Some NFT owners could be really hard and smart working; and creative too. Somehow they fail in convincing potential buyers or future owners to buy the item. These have clear signs that the NFT seller doesn’t know how to describe or elaborate on what they’ve to offer.
Moreover, they fail in presenting their NFTs in an effective way.
Or the NFT owner could be a lazy seller, who wants to do a lot, but actually doesn’t do a lot!
3. The NFT Itself Is Dull
Not all NFTs on the showcase are lucrative. Most of them could be dull.
Having a dull and worthless NFT has no point in being in the marketplace, as they can’t covert.
However, there’s always a solution to make your NFT worthwhile:
- Create a Hype About Your NFTs On Social Media
- Add a Storyline To Make Them More Lucrative
- Create a Landing Page or a Website To Present Your NFT With As Much Information As Possible
Importantly, subscribe to our ‘NFT Update’ list to make smart actions ahead of the competition.
4. They Are New Into The Marketplace
This is truly a fair case where no one could actually blame saying ‘NFT owner could be trustless’. If you notice carefully, the majority of NFT sellers in the marketplace are newcomers. And most of them have no idea how to successfully sell the first NFT.
No one is perfect and not everyone is a professional. Those who’ve already been in this field for more than 2 years have the actual recipe for executing the new projects.
Simultaneously, one being a newbie could go through various complications in selling NFTs, some of those are:
- No contract underneath the NFT – saying ‘why would someone buy your NFT?’
- Unable to buy Ethereum or transfer them to the wallet when required
- No commitments or rewards to the first buyer
- Your NFT is an unrecognized painting, so it’s difficult to gain the trust
- The item you are selling ain’t rare, there are tons of similar NFTs sitting in the dead stock
- Have created and uploaded NFT, but have no idea what to do next
On The Other Way Around, This Has Been Clear What You Need To Do To Be a Trustworthy NFT Holder.
Now, how to fix the statement ‘NFT owner could be trustless’, so when you sell your NFT, the same won’t be applied to you.
And to work on so, you’ll have to learn to present your NFTs to the world.
As the NFT identification regulations and tools are coming through; in the coming days, it’ll be quite obvious to recognize which NFT item is worth what.
Did You Also Read:
- How To Promote NFT On Instagram?
- 10 Nightmare Risks And Challenges In Dealing With NFTs
- How To Create NFT And Sell It Safely?
- How to Create an NTF Art and Make Collection?
- List Most Expensive NFT Sold Till Date
- How Opensea NFT Marketplace Can Help Me Onboard?
- What Are NFTs And How Do They Work?
- How To Create NFT & Sell NFT On Binance?
- What Are 11 Racy Different Types Of NFTs You Can Create?