over 170 million followers on Instagram,  tweeted that he had just purchased the  

picture of this ape (Bored Apes #6633) How much do you think he paid for it? 

$10, $50, or how about $100. The answer might shock you. If you  

are not ready for such an answer, please turn  off the video because the picture of his ape  

cost probably more than your house. Neymar paid  159.99 Ethereum (ETH), or $449,739, for a pink  

ape outfitted with flashy futuristic glasses. But that's not all. He also bought Ape #5269,  

which is an ape with lasers coming out  of his eyes, for 189.69 ETH or $533,228.  

Even for a celebrity like Neymar Jr, spending a  million dollars on 2 digital arts that you can  

literally copy and paste is considered a lot. However, a million dollars in the world of NFTs  

is peanuts. Checkout Everyday: the First  5000 Days. It's a 5000 art collection of  

Beeple's artwork which was sold for $69.3m.  Yes, you heard that right, almost 70 million  

dollars. But the most expensive NFT ever, was  sold on the 2nd of December 2021 for $91.8m. 

So if you are wondering how much money can be made  with NFTs, the answer is pretty simple - a lot! 

Why are investors willing to pay that much money  for these paintings? Why could they potentially  

be worth much more in the future? And how are  teenagers making millions of dollars through NFTs? 

We will answer all of these questions  and many more. If you are ready, smash  

that like button and subscribe.

Paying millions of dollars for some digital art  sounds insane, but in the age of the internet,  

paying so much money for any kind of art is  insane. Let's take a look at the most famous  

piece of art, Mona-Lisa. It's believed  to be worth more than $850 million, 9  

times more than the most expensive NFT ever sold. We can debate forever why physical art is worth  

the money while digital one doesn't, but  the fact is, in the age of the internet,  

we can make a perfect copy of anything. Even  the Mona Lisa. So, that begs the question - if  

we can create as many copies as we want, why  is Mona Lisa still worth 850 million dollars. 

The answer is simple - Scarcity. It was drawn by  Da Vinci in 1503. While you can create a copy,  

the Mona-Lisa that was painted by Da Vinic over  500 years is only one, and there is not going  

to be a second one because, first of all,  Da Vinci is no longer around, and secondly,  

you can't claim that your copy of  Mona-Lisa is ove r 500 years old. 

In other words, we humans are very irrational  creatures, and we are ready to overpay to  

have things that others don't to show our  status in society. That's why some people  

pay hundreds if not millions of dollars  for a Rolex watch that does exactly what  

any other watch does - tells the time. Or pay thousands of dollars for a t-shirt  

that were only a limited number of them  produced. Whether you think that's dumb or not,  

that's a topic for another video, bu t that's  a fact. That's exactly what NFTs are for. 

After the French Revolution, Mona Lisa was  moved to the Louvre and changed hands multiple  

times. On 21 of August 1911, the painting was  stolen but was returned back a few years later.  

After running dozens of tests, they confirmed tha  t this painting is most probably the one that was  

drawn by Da Vinci. However, if, back in 1503,  Da Vinci had turned his painting into an NTF,  

we would have known every owner of the Mona  Lisa since it was created and how it moved hands  

over the centuries. Of course, NFT's didn't exist  back then, but that's the point. NFTs are based on  

blockchain. A blockchain is a distributed database  and stores information electronically in digital  

format. So the entire network knows that Neymar  Jr is the owner of Ape #5269. You can create a  

copy and pretend like it's the original, but  no one is going to believe you because it's  

all there in the records, and we don't need the  middle man to confirm it. The public confirms it. 

If you are not interested in Art, NFTs probably  don't make sense to you, but if you are,  

this is a game-changer. We no longer need  experts and historians to verify whether this  

is the Mona Lisa that was drawn by Da Vinci.  The moment it's recorded in the blockchain,  

no one can steal it or create another copy.  I mean, they can create a copy, but everyone  

will know which one is the original and which  one is a copy because it's being tracked by  

thousands if not millions of computers all  across the globe whenever it changes hands.  

If your favorite Artis designs art for you,  the entire world is going to know that this art  

was designed for you and it belongs to you,  and no one can steal it or claim otherwise. 

But what makes NFTs even more exciting is the  Metaverse. Metaverse is believed to be web 3.0.  

If you want to know what is metaverse and why  is it a big deal? Then check out our vidoe on  

Metaverse! It's one of my favorite videos on the  channel. But in short, in the last two decades, we  

have been building a virtual identity, and instead  of smartphones, we will be walking with smart  

glasses where our virtual identities will have  an entire world of their own. This is, of course,  

an oversimplification, but there in the Metaverse,  the only way to own things will be through NFTs.  

That's why they are going to be a big deal. I mean, they are already a big deal.  

An NFT was sold for over 90 million  dollars. Isn't that a big deal already?! 

The main question is, how  do you make money with NFTs? 

There are essentially 3 ways to make money with  NFTs. The first one is of course to create your  

own collection. You don't necessarily have to  be the artist. You can come up with the idea  

and let someone else paint it for you. I have a  friend who is doing exactly that. The question is  

why would people buy your NFT? That's where  marketing comes into the picture. Your job  

is to create as much hype as possible around  them. If you convince a celebrity to buy one,  

that will create some buzz and will definitely  attract attention. Other times, they keep  

reselling them among each other to the point  where it becomes so expensive and hits the news.

But most people make m oney with NFTs by flipping. An NFT starts getting attention. You sell it,  

someone else buys it in the hopes of reselling  it for a higher price. Eventually, someone buys  

it with the exact same hope. At the end of the  day, it's overpriced. It's like a ticking bomb.  

Everyone is just passing it  to the other, hoping that  

it won't explode in their hands, but the  fact is, it will explode sooner or later! 

You can play this game, but you have  to know that the moment it explodes,  

over 90 percent or probably 99 percent  of all NFTs will become worthless. 

There are people who are going to make  fortunes, but the vast majority will lose. 

Who really makes money with NFTs are marketplaces  such as Opensea or Looksrare where NFTs are  

traded. These people make millions regardless of  which NFTs are getting the attention, and once  

the bubble burst, they won't lose anything.  They will just stop making so much money.  

They charge around 5 percent per trade. That's  a lot! $5 billion worth of NFTs has been sold  

on OpenSea alone as of January 2022, which means  the platform has earned over 250 million dollars. 

NFTs probably have a bright future. But in the  short run, some people will make fortunes, and  

most people will lose money. Especially since we  are heading into a recession. During recessions,  

risky industries suffer the most because  people simply have less money to spend. 

Thats why its important to consider  the stock market. If you are new to  

the stock makret. Checkout my course on  skillshare. You can try skillshare for free  

using the link in the descrioption or get at  least 2 free stocks by signing up to webull,  

the link is also in the description. Thanks for watching and until next time.